Extra Space Storage Inc (NYSE:EXR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Monday, July 24th.
Other research analysts also recently issued reports about the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 target price on the stock in a research report on Monday, May 15th. Royal Bank Of Canada restated a “hold” rating and set a $80.00 target price on shares of Extra Space Storage in a research report on Thursday, April 27th. 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 Monday, April 3rd. Bank of America Corporation downgraded shares of Extra Space Storage from a “buy” rating to a “neutral” rating and cut their price target for the company from $83.00 to $81.00 in a research report on Thursday, July 20th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $77.00 price target on shares of Extra Space Storage in a research report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $85.67.
Extra Space Storage (NYSE EXR) traded up 0.10% during mid-day trading on Monday, hitting $76.31. 993,426 shares of the company’s stock were exchanged. Extra Space Storage has a 52 week low of $68.09 and a 52 week high of $83.88. The firm has a 50 day moving average of $77.57 and a 200 day moving average of $76.43. The stock has a market capitalization of $9.62 billion, a P/E ratio of 26.08 and a beta of 0.34.
Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. The company had revenue of $276 million for the quarter, compared to the consensus estimate of $239.89 million. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. Equities analysts forecast that Extra Space Storage will post $2.67 earnings per share for the current fiscal year.
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In related news, EVP James Overturf sold 1,300 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $77.27, for a total transaction of $100,451.00. Following the completion of the sale, the executive vice president now directly owns 87,575 shares of the company’s stock, valued at approximately $6,766,920.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Spencer Kirk sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.09, for a total value of $1,581,800.00. Following the sale, the director now directly owns 665,748 shares of the company’s stock, valued at $52,654,009.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,900 shares of company stock valued at $4,957,788. 3.72% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted its position in shares of Extra Space Storage by 4.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 417,110 shares of the real estate investment trust’s stock valued at $32,219,000 after buying an additional 18,753 shares in the last quarter. Kentucky Retirement Systems acquired a new position in shares of Extra Space Storage during the fourth quarter valued at $705,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Extra Space Storage during the fourth quarter valued at $315,000. Chevy Chase Trust Holdings Inc. boosted its position in shares of Extra Space Storage by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 108,544 shares of the real estate investment trust’s stock valued at $8,074,000 after buying an additional 3,416 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Extra Space Storage by 13.5% in the first quarter. Creative Planning now owns 5,850 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 697 shares in 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.
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