Shares of Extra Space Storage, Inc. (NYSE:EXR) have been given a consensus rating of “Hold” by the thirteen analysts that are covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $93.90.
Several research firms have recently commented on EXR. Jefferies Financial Group reissued a “hold” rating and issued a $104.00 price target on shares of Extra Space Storage in a research report on Wednesday, July 18th. Bank of America boosted their price target on Extra Space Storage from $107.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. ValuEngine lowered Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. BMO Capital Markets set a $93.00 price target on Extra Space Storage and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Finally, Citigroup reduced their price target on Extra Space Storage from $103.00 to $92.00 and set a “hold” rating for the company in a research report on Friday, October 5th.
In related news, EVP James Overturf sold 880 shares of the company’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $86.24, for a total transaction of $75,891.20. Following the transaction, the executive vice president now directly owns 72,097 shares of the company’s stock, valued at approximately $6,217,645.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 2,640 shares of company stock worth $235,849 over the last ninety days. 3.52% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Korea Investment CORP increased its position in Extra Space Storage by 10.4% during the 2nd quarter. Korea Investment CORP now owns 75,291 shares of the real estate investment trust’s stock valued at $7,515,000 after buying an additional 7,100 shares in the last quarter. Soros Fund Management LLC acquired a new position in Extra Space Storage during the 2nd quarter valued at about $17,002,000. United Services Automobile Association increased its position in Extra Space Storage by 36.0% during the 2nd quarter. United Services Automobile Association now owns 53,613 shares of the real estate investment trust’s stock valued at $5,351,000 after buying an additional 14,200 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Extra Space Storage during the 2nd quarter valued at about $533,000. Finally, Glen Harbor Capital Management LLC increased its position in Extra Space Storage by 92.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 17,442 shares of the real estate investment trust’s stock valued at $1,741,000 after buying an additional 8,398 shares in the last quarter.
Shares of EXR stock traded up $0.47 during mid-day trading on Monday, hitting $90.75. The stock had a trading volume of 673,551 shares, compared to its average volume of 999,994. Extra Space Storage has a 12-month low of $77.53 and a 12-month high of $101.96. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 3.53 and a beta of 0.07. The company has a current ratio of 0.53, a quick ratio of 0.64 and a debt-to-equity ratio of 1.72.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.17). The company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $266.81 million. Extra Space Storage had a return on equity of 20.11% and a net margin of 47.29%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. Research analysts predict that Extra Space Storage will post 4.64 EPS for the current fiscal year.
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 June 30, 2018, the Company owned and/or operated 1,568 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,090,000 units and approximately 119 million square feet of rentable space.
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