Extra Space Storage Inc (NYSE:EXR)‘s stock had its “hold” rating reissued by equities research analysts at KeyCorp in a research report issued on Wednesday.
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Bank of America Corporation cut Extra Space Storage from a “buy” rating to a “neutral” rating and cut their target price for the stock from $83.00 to $81.00 in a research note on Thursday, July 20th. Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Wednesday. Cantor Fitzgerald reissued a “hold” rating and issued a $77.00 target price on shares of Extra Space Storage in a research note on Sunday, August 20th. Finally, Evercore ISI reissued an “in-line” rating and issued a $80.00 target price (up from $78.00) on shares of Extra Space Storage in a research note on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $82.56.
Extra Space Storage (EXR) opened at 81.61 on Wednesday. The firm’s 50-day moving average price is $79.16 and its 200 day moving average price is $77.34. The company has a market capitalization of $10.28 billion, a PE ratio of 27.89 and a beta of 0.36. Extra Space Storage has a 52 week low of $68.09 and a 52 week high of $83.23.
Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The firm had revenue of $276.00 million for the quarter, compared to analysts’ expectations of $239.89 million. During the same period in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts expect that Extra Space Storage will post $2.76 earnings per share for the current fiscal year.
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In other Extra Space Storage news, EVP James Overturf sold 1,300 shares of the stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $77.27, for a total value of $100,451.00. Following the transaction, the executive vice president now owns 87,575 shares of the company’s stock, valued at $6,766,920.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Spencer Kirk sold 20,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.09, for a total value of $1,581,800.00. Following the completion of the transaction, the director now directly owns 665,748 shares in the company, valued at approximately $52,654,009.32. The disclosure for this sale can be found here. Insiders have sold 63,900 shares of company stock worth $5,037,638 over the last ninety days. 3.72% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Global X Management Co. LLC lifted its holdings in Extra Space Storage by 42.4% in the first quarter. Global X Management Co. LLC now owns 2,830 shares of the real estate investment trust’s stock valued at $211,000 after acquiring an additional 842 shares during the period. Atria Investments LLC bought a new position in Extra Space Storage in the second quarter valued at about $213,000. Achmea Investment Management B.V. bought a new position in Extra Space Storage in the first quarter valued at about $216,000. Mackenzie Financial Corp bought a new position in Extra Space Storage in the first quarter valued at about $218,000. Finally, Federated Investors Inc. PA bought a new position in Extra Space Storage in the second quarter valued at about $218,000.
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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