Extra Space Storage, Inc. (NYSE:EXR) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $94.57.
A number of research analysts recently commented on EXR shares. Evercore ISI cut Essex Property Trust from an “outperform” rating to an “in-line” rating in a report on Monday, April 1st. BMO Capital Markets reissued a “hold” rating and issued a $45.00 price target on shares of SAP in a report on Wednesday, May 1st. Finally, Zacks Investment Research cut Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd.
Shares of NYSE:EXR traded down $2.40 during mid-day trading on Friday, reaching $108.69. 649,994 shares of the company traded hands, compared to its average volume of 722,093. The stock’s 50 day simple moving average is $108.48. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 4.72 and a beta of 0.23. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.80. Extra Space Storage has a 52 week low of $83.70 and a 52 week high of $112.62.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.02. The company had revenue of $271.00 million during the quarter, compared to the consensus estimate of $266.01 million. Extra Space Storage had a return on equity of 16.56% and a net margin of 37.12%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. On average, analysts forecast that Extra Space Storage will post 4.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, June 13th. This is a boost from Extra Space Storage’s previous quarterly dividend of $0.86. This represents a $3.60 dividend on an annualized basis and a yield of 3.31%. Extra Space Storage’s payout ratio is currently 77.09%.
In other news, COO Samrat Sondhi sold 4,480 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.99, for a total transaction of $479,315.20. Following the sale, the chief operating officer now directly owns 76,879 shares of the company’s stock, valued at approximately $8,225,284.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Overturf sold 880 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $111.78, for a total value of $98,366.40. Following the sale, the executive vice president now directly owns 66,969 shares in the company, valued at $7,485,794.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,805 shares of company stock worth $2,438,849. 3.29% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Extra Space Storage by 1.0% during the 1st quarter. BlackRock Inc. now owns 13,302,708 shares of the real estate investment trust’s stock worth $1,355,678,000 after acquiring an additional 135,871 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Extra Space Storage by 8.8% during the 1st quarter. Principal Financial Group Inc. now owns 3,984,402 shares of the real estate investment trust’s stock worth $406,050,000 after acquiring an additional 321,688 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Extra Space Storage by 24.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,386,588 shares of the real estate investment trust’s stock worth $345,127,000 after acquiring an additional 657,927 shares in the last quarter. FMR LLC raised its holdings in shares of Extra Space Storage by 8.0% during the 1st quarter. FMR LLC now owns 2,553,248 shares of the real estate investment trust’s stock worth $260,202,000 after acquiring an additional 189,209 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Extra Space Storage by 6.5% during the 4th quarter. Deutsche Bank AG now owns 2,488,102 shares of the real estate investment trust’s stock worth $225,117,000 after acquiring an additional 152,021 shares in the last quarter. 99.90% of the stock is currently owned by institutional investors and hedge funds.
Extra Space Storage Company Profile
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.
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