Extra Space Storage (NYSE:EXR – Get Free Report) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.07, Zacks reports. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%. The company had revenue of $889.79 million for the quarter, compared to analysts’ expectations of $886.61 million. During the same quarter in the prior year, the business posted $2.08 EPS. The business’s revenue was up 3.6% compared to the same quarter last year.
Extra Space Storage Stock Up 0.9%
EXR stock traded up $1.30 during trading on Tuesday, reaching $144.67. 1,032,977 shares of the stock were exchanged, compared to its average volume of 1,257,126. The firm has a market cap of $30.56 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 4.25 and a beta of 1.15. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. Extra Space Storage has a twelve month low of $125.71 and a twelve month high of $158.88. The firm’s 50 day moving average is $138.49 and its 200 day moving average is $142.20.
Extra Space Storage Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. Extra Space Storage’s dividend payout ratio is presently 143.05%.
Wall Street Analysts Forecast Growth
EXR has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada boosted their price objective on shares of Extra Space Storage from $153.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, July 30th. Wells Fargo & Company decreased their target price on Extra Space Storage from $158.00 to $157.00 and set an “overweight” rating for the company in a research note on Tuesday, September 1st. Finally, Truist Financial raised Extra Space Storage from a “hold” rating to a “buy” rating and decreased their target price for the company from $148.00 to $147.00 in a research report on Thursday, October 1st. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.67.
Check Out Our Latest Analysis on Extra Space Storage
Extra Space Storage Company Profile
Extra Space Storage Inc is a real estate investment trust that owns, operates, manages and develops self-storage properties in the United States. The company provides storage units for residential, business and vehicle-storage customers, with facilities offering a range of unit sizes and access options.
In addition to operating properties under the Extra Space Storage brand, the company provides third-party property management, acquisition and development services for self-storage owners.
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