Extra Space Storage Inc (NYSE:EXR) Stock Rating Lowered by BidaskClub

Extra Space Storage Inc (NYSE:EXR) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Sunday, July 30th.

A number of other equities analysts also recently commented on the stock. Bank of America Corporation downgraded shares of Extra Space Storage from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $83.00 to $81.00 in a research report on Thursday, July 20th. Cantor Fitzgerald restated a “neutral” rating and set a $77.00 price objective on shares of Extra Space Storage in a research report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) upgraded shares of Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price objective for the company in a research report on Monday, May 15th. Citigroup Inc. restated a “neutral” rating on shares of Extra Space Storage in a research report on Thursday, May 11th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $80.00 price target on shares of Extra Space Storage in a report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $83.13.

Extra Space Storage (EXR) traded down 1.90% on Friday, reaching $74.74. 858,825 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $77.25 and a 200-day moving average price of $76.51. The company has a market capitalization of $9.42 billion, a P/E ratio of 25.54 and a beta of 0.34. Extra Space Storage has a 1-year low of $68.09 and a 1-year high of $82.82.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The company had revenue of $276 million during the quarter, compared to the consensus estimate of $239.89 million. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. Extra Space Storage’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. Equities research analysts expect that Extra Space Storage will post $2.82 earnings per share for the current year.

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In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.09, for a total transaction of $1,581,800.00. Following the completion of the transaction, the director now directly owns 665,748 shares in the company, valued at approximately $52,654,009.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $77.27, for a total transaction of $100,451.00. Following the transaction, the executive vice president now owns 87,575 shares of the company’s stock, valued at $6,766,920.25. The disclosure for this sale can be found here. Insiders have sold a total of 62,600 shares of company stock valued at $4,860,821 over the last 90 days. 3.72% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. increased its position in Extra Space Storage by 4.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 417,110 shares of the real estate investment trust’s stock valued at $32,219,000 after buying an additional 18,753 shares during the period. Kentucky Retirement Systems acquired a new position in Extra Space Storage during the fourth quarter valued at $705,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Extra Space Storage during the fourth quarter valued at $315,000. Chevy Chase Trust Holdings Inc. increased its position in Extra Space Storage by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 108,544 shares of the real estate investment trust’s stock valued at $8,074,000 after buying an additional 3,416 shares during the period. Finally, Creative Planning increased its position in Extra Space Storage by 13.5% in the first quarter. Creative Planning now owns 5,850 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 697 shares during the period.

About Extra Space Storage

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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