Extra Space Storage, Inc. (NYSE:EXR)’s share price reached a new 52-week high and low on Tuesday . The company traded as low as $89.12 and last traded at $88.55, with a volume of 420418 shares trading hands. The stock had previously closed at $87.35.
Several equities analysts recently weighed in on EXR shares. SunTrust Banks restated a “hold” rating and issued a $88.00 price target on shares of Extra Space Storage in a research note on Friday. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Tuesday, March 6th. Cantor Fitzgerald set a $86.00 price target on Extra Space Storage and gave the company a “hold” rating in a research note on Thursday, March 8th. Jefferies Group set a $92.00 price target on Extra Space Storage and gave the company a “hold” rating in a research note on Tuesday, March 6th. Finally, BMO Capital Markets set a $78.00 price target on Extra Space Storage and gave the company a “hold” rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Extra Space Storage has an average rating of “Hold” and an average target price of $87.00.
The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $10,975.35, a P/E ratio of 20.21, a P/E/G ratio of 3.31 and a beta of 0.21.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $1.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.55. The company had revenue of $281.84 million during the quarter, compared to analyst estimates of $283.74 million. Extra Space Storage had a return on equity of 18.87% and a net margin of 44.67%. analysts expect that Extra Space Storage, Inc. will post 4.59 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Wednesday, March 14th. Extra Space Storage’s dividend payout ratio is currently 71.23%.
In other news, EVP James Overturf sold 880 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $81.62, for a total transaction of $71,825.60. Following the transaction, the executive vice president now directly owns 82,577 shares in the company, valued at approximately $6,739,934.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Diane Olmstead sold 1,436 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.04, for a total value of $124,989.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,300 shares of company stock worth $5,388,931. Insiders own 3.52% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Extra Space Storage by 2.1% in the fourth quarter. BlackRock Inc. now owns 12,555,071 shares of the real estate investment trust’s stock valued at $1,097,941,000 after acquiring an additional 254,959 shares during the last quarter. Deutsche Bank AG lifted its holdings in Extra Space Storage by 2.5% in the fourth quarter. Deutsche Bank AG now owns 2,923,110 shares of the real estate investment trust’s stock valued at $255,617,000 after acquiring an additional 71,286 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Extra Space Storage by 59.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,209,113 shares of the real estate investment trust’s stock valued at $193,186,000 after acquiring an additional 823,278 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Extra Space Storage by 65.4% in the fourth quarter. APG Asset Management N.V. now owns 1,712,948 shares of the real estate investment trust’s stock valued at $124,748,000 after acquiring an additional 677,392 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Extra Space Storage by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 1,508,360 shares of the real estate investment trust’s stock valued at $131,665,000 after acquiring an additional 59,298 shares during the last quarter.
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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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