Extra Space Storage Inc (EXR) Given “Hold” Rating at BMO Capital Markets

BMO Capital Markets restated their hold rating on shares of Extra Space Storage Inc (NYSE:EXR) in a research report report published on Thursday. The brokerage currently has a $78.00 price target on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the company. BidaskClub lowered Extra Space Storage from a hold rating to a sell rating in a research report on Wednesday, August 23rd. Bank of America Corporation lowered Extra Space Storage from a buy rating to a neutral rating and dropped their price target for the stock from $83.00 to $81.00 in a research report on Thursday, July 20th. Cantor Fitzgerald reiterated a hold rating and issued a $77.00 price target on shares of Extra Space Storage in a research report on Wednesday. Jefferies Group LLC reiterated a hold rating and issued a $80.00 price target on shares of Extra Space Storage in a research report on Tuesday, October 24th. Finally, KeyCorp reiterated a buy rating and issued a $82.00 price target on shares of Extra Space Storage in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $82.56.

Shares of Extra Space Storage (NYSE EXR) traded up $3.44 during trading hours on Thursday, hitting $85.04. 1,248,258 shares of the company’s stock were exchanged, compared to its average volume of 963,819. Extra Space Storage has a 52 week low of $68.09 and a 52 week high of $85.92. The company has a quick ratio of 0.57, a current ratio of 0.75 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $10.72 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 3.39 and a beta of 0.38.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.03. The company had revenue of $284.16 million during the quarter, compared to analyst estimates of $246.85 million. Extra Space Storage had a return on equity of 14.41% and a net margin of 33.21%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $1.02 earnings per share. sell-side analysts predict that Extra Space Storage will post 4.32 earnings per share for the current fiscal year.

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In related news, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $75.50, for a total value of $98,150.00. Following the completion of the sale, the executive vice president now owns 86,275 shares of the company’s stock, valued at approximately $6,513,762.50. The disclosure for this sale can be found here. Insiders have sold 63,900 shares of company stock valued at $5,089,327 in the last 90 days. Company insiders own 3.72% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in EXR. Cbre Clarion Securities LLC purchased a new stake in shares of Extra Space Storage in the second quarter valued at approximately $304,239,000. Capital Research Global Investors boosted its holdings in shares of 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 period. APG Asset Management N.V. boosted its holdings in shares of Extra Space Storage by 2,889.7% in the third quarter. APG Asset Management N.V. now owns 1,035,556 shares of the real estate investment trust’s stock valued at $82,762,000 after purchasing an additional 1,000,919 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of 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 period. Finally, BlackRock Inc. boosted its holdings in shares of 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 period.

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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