News coverage about Extra Space Storage (NYSE:EXR) has been trending somewhat positive on Monday, according to Accern Sentiment Analysis. The research firm scores the sentiment of press coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Extra Space Storage earned a news impact score of 0.17 on Accern’s scale. Accern also assigned news coverage about the real estate investment trust an impact score of 45.9306196129833 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 price target for the company in a research report on Wednesday, December 13th. Zacks Investment Research lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Wells Fargo & Co set a $93.00 price target on shares of Extra Space Storage and gave the stock a “buy” rating in a research note on Thursday, November 30th. Robert W. Baird reiterated a “buy” rating and set a $92.00 price target on shares of Extra Space Storage in a research note on Wednesday, November 29th. Finally, Jefferies Group set a $90.00 price target on shares of Extra Space Storage and gave the stock a “hold” rating in a research note on Tuesday, November 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $86.42.
Shares of Extra Space Storage (NYSE:EXR) traded down $0.31 during mid-day trading on Monday, reaching $87.45. 631,100 shares of the company traded hands, compared to its average volume of 1,001,708. Extra Space Storage has a 1 year low of $71.34 and a 1 year high of $88.56. The firm has a market capitalization of $11,019.38, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 3.37 and a beta of 0.39. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.68.
Extra Space Storage announced that its board has authorized a share buyback plan on Monday, November 13th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, December 14th. Extra Space Storage’s payout ratio is 114.71%.
In other news, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $81.38, for a total value of $1,627,600.00. Following the transaction, the director now directly owns 665,748 shares in the company, valued at approximately $54,178,572.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Grace Kunde sold 350 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $87.65, for a total transaction of $30,677.50. Following the completion of the transaction, the senior vice president now owns 11,209 shares in the company, valued at $982,468.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,250 shares of company stock valued at $3,694,071. Company insiders own 3.72% of the company’s stock.
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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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