Extra Space Storage Inc (NYSE:EXR) has been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $86.00.
A number of equities research analysts have weighed in on EXR shares. BidaskClub lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) raised shares of Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 target price on the stock in a report on Monday, May 15th. Bank of America Corporation lowered shares of Extra Space Storage from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $83.00 to $81.00 in a report on Thursday, July 20th. Cantor Fitzgerald reissued a “neutral” rating and set a $77.00 target price on shares of Extra Space Storage in a report on Monday, May 22nd. Finally, Citigroup Inc. reissued a “neutral” rating on shares of Extra Space Storage in a report on Thursday, May 11th.
In other news, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $78.31, for a total value of $1,566,200.00. Following the transaction, the director now owns 665,748 shares in the company, valued at approximately $52,134,725.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $74.59, for a total transaction of $96,967.00. Following the completion of the transaction, the executive vice president now owns 89,475 shares in the company, valued at approximately $6,673,940.25. The disclosure for this sale can be found here. Insiders sold a total of 63,900 shares of company stock worth $4,957,788 in the last 90 days. Corporate insiders own 3.72% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board increased its position in Extra Space Storage by 55.2% in the second quarter. Ontario Teachers Pension Plan Board now owns 38,433 shares of the real estate investment trust’s stock worth $2,998,000 after buying an additional 13,668 shares during the last quarter. Veritable L.P. bought a new position in Extra Space Storage during the second quarter worth about $1,227,000. Dimensional Fund Advisors LP increased its position in Extra Space Storage by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,774,039 shares of the real estate investment trust’s stock worth $138,374,000 after buying an additional 65,311 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Extra Space Storage by 25.3% in the second quarter. Parametric Portfolio Associates LLC now owns 188,601 shares of the real estate investment trust’s stock worth $14,711,000 after buying an additional 38,111 shares during the last quarter. Finally, Advisor Group Inc. increased its position in Extra Space Storage by 5.2% in the second quarter. Advisor Group Inc. now owns 5,338 shares of the real estate investment trust’s stock worth $417,000 after buying an additional 266 shares during the last quarter.
Extra Space Storage (NYSE:EXR) opened at 76.31 on Friday. The stock’s 50 day moving average is $77.57 and its 200-day moving average is $76.43. Extra Space Storage has a 12 month low of $68.09 and a 12 month high of $83.88. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 26.08 and a beta of 0.34.
Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. The firm had revenue of $276 million for the quarter, compared to analyst estimates of $239.89 million. During the same period in the previous year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Extra Space Storage will post $2.67 earnings per share for the current fiscal year.
Extra Space Storage Company Profile
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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