EXR has been the topic of several other research reports. Zacks Investment Research raised Extra Space Storage from a hold rating to a buy rating and set a $90.00 price target on the stock in a research note on Wednesday. BidaskClub lowered Extra Space Storage from a hold rating to a sell rating in a research note on Wednesday, August 23rd. Cantor Fitzgerald reaffirmed a hold rating and issued a $77.00 price target on shares of Extra Space Storage in a research note on Friday, September 1st. Bank of America Corporation lowered Extra Space Storage from a buy rating to a neutral rating and reduced their price objective for the stock from $83.00 to $81.00 in a research note on Thursday, July 20th. Finally, Evercore ISI reissued an in-line rating and issued a $80.00 price objective (up previously from $78.00) on shares of Extra Space Storage in a research note on Thursday, September 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $82.56.
Shares of Extra Space Storage (EXR) traded up 1.061% during midday trading on Wednesday, reaching $81.425. The company’s stock had a trading volume of 761,219 shares. Extra Space Storage has a 52-week low of $68.09 and a 52-week high of $83.23. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 27.828 and a beta of 0.36. The stock has a 50 day moving average price of $79.04 and a 200-day moving average price of $77.31.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. The business had revenue of $276.00 million for the quarter, compared to analyst estimates of $239.89 million. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. Extra Space Storage’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS. Equities research analysts expect that Extra Space Storage will post $2.76 EPS for the current year.
TRADEMARK VIOLATION NOTICE: “Extra Space Storage Inc (EXR) Given Hold Rating at KeyCorp” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://www.com-unik.info/2017/10/12/extra-space-storage-inc-exr-given-hold-rating-at-keycorp.html.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.87%. Extra Space Storage’s payout ratio is currently 107.22%.
In other news, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $75.50, for a total transaction of $98,150.00. Following the completion of the sale, the executive vice president now owns 86,275 shares in the company, valued at $6,513,762.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $79.64, for a total value of $1,592,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,900 shares of company stock valued at $5,037,638. 3.72% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXR. Cbre Clarion Securities LLC bought a new stake in Extra Space Storage in the second quarter valued at about $304,239,000. Capital Research Global Investors increased its holdings in Extra Space Storage by 56.2% in the second quarter. Capital Research Global Investors now owns 5,161,305 shares of the real estate investment trust’s stock valued at $402,582,000 after purchasing an additional 1,857,594 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Extra Space Storage by 161.6% in the second quarter. JPMorgan Chase & Co. now owns 1,319,479 shares of the real estate investment trust’s stock valued at $102,921,000 after purchasing an additional 815,051 shares during the last quarter. BlackRock Inc. increased its holdings in Extra Space Storage by 3.0% in the second quarter. BlackRock Inc. now owns 12,091,401 shares of the real estate investment trust’s stock valued at $943,130,000 after purchasing an additional 348,554 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Extra Space Storage by 112.6% in the second quarter. American Century Companies Inc. now owns 632,684 shares of the real estate investment trust’s stock valued at $49,349,000 after purchasing an additional 335,139 shares during the last quarter.
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.
What are top analysts saying about Extra Space Storage Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Extra Space Storage Inc and related companies.