Extra Space Storage Inc (NYSE:EXR) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.25 to $4.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.25.
Several research firms have recently issued reports on EXR. 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) 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 report on Monday, May 15th. Cantor Fitzgerald reiterated a neutral rating and set a $77.00 price objective on shares of Extra Space Storage in a report on Monday, May 22nd. Citigroup Inc. reiterated a neutral rating on shares of Extra Space Storage in a report on Thursday, May 11th. Finally, Bank of America Corporation lowered shares of Extra Space Storage from a buy rating to a neutral rating and reduced their price target for the company from $83.00 to $81.00 in a report on Thursday, July 20th. 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 issued a strong buy rating to the company’s stock. Extra Space Storage has a consensus rating of Hold and an average price target of $83.13.
Extra Space Storage Inc (NYSE:EXR) traded down 1.90% during mid-day trading on Friday, hitting $74.74. 858,825 shares of the stock traded hands. Extra Space Storage Inc has a 12-month low of $68.09 and a 12-month high of $82.82. The company has a 50 day moving average of $77.25 and a 200-day moving average of $76.51. The stock has a market cap of $9.42 billion, a PE ratio of 25.54 and a beta of 0.34.
Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.04. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The company had revenue of $276 million for the quarter, compared to analyst estimates of $239.89 million. During the same period in the prior year, the company posted $0.94 EPS. Extra Space Storage’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts forecast that Extra Space Storage Inc will post $2.82 earnings per share for the current year.
In related news, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $75.75, for a total transaction of $1,515,000.00. Following the sale, the director now directly owns 665,748 shares of the company’s stock, valued at approximately $50,430,411. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $77.27, for a total value of $100,451.00. Following the sale, the executive vice president now directly owns 87,575 shares in the company, valued at $6,766,920.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,600 shares of company stock worth $4,860,821. Corporate insiders own 3.72% of the company’s stock.
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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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