Extra Space Storage (EXR) Given Consensus Recommendation of “Hold” by Brokerages

Extra Space Storage (NYSE:EXR) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $88.70.

EXR has been the topic of a number of recent research reports. Bank of America upgraded Extra Space Storage from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Tuesday, May 8th. Jefferies Group set a $92.00 target price on Extra Space Storage and gave the company a “hold” rating in a research note on Tuesday, March 6th. SunTrust Banks reiterated a “hold” rating and issued a $88.00 target price on shares of Extra Space Storage in a research note on Friday, April 13th. ValuEngine upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Tuesday, May 1st. Finally, Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Tuesday, March 6th.

EXR stock traded down $0.04 during mid-day trading on Monday, reaching $91.98. The company had a trading volume of 563,586 shares, compared to its average volume of 869,732. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 3.87 and a beta of 0.19. Extra Space Storage has a one year low of $73.70 and a one year high of $95.96.

Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.55. The company had revenue of $281.84 million for the quarter, compared to analysts’ expectations of $283.74 million. Extra Space Storage had a return on equity of 18.85% and a net margin of 44.28%. analysts predict that Extra Space Storage will post 4.62 EPS for the current fiscal year.

In other news, insider Kenneth M. Woolley sold 46,779 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $86.82, for a total transaction of $4,061,352.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO P Scott Stubbs sold 9,250 shares of the firm’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $93.40, for a total value of $863,950.00. Following the transaction, the chief financial officer now directly owns 144,973 shares in the company, valued at $13,540,478.20. The disclosure for this sale can be found here. Insiders have sold 87,863 shares of company stock worth $7,770,515 over the last three months. Corporate insiders own 3.52% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of EXR. Lee Financial Co grew its holdings in Extra Space Storage by 100.0% during the first quarter. Lee Financial Co now owns 2,100 shares of the real estate investment trust’s stock worth $183,000 after acquiring an additional 1,050 shares during the period. Conning Inc. acquired a new position in Extra Space Storage during the fourth quarter worth about $202,000. IBM Retirement Fund acquired a new position in Extra Space Storage during the first quarter worth about $234,000. Cambridge Investment Research Advisors Inc. acquired a new position in Extra Space Storage during the fourth quarter worth about $245,000. Finally, Fox Run Management L.L.C. acquired a new position in Extra Space Storage during the fourth quarter worth about $250,000.

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, 2017, the Company owned and/or operated 1,483 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,020,000 units and approximately 112 million square feet of rentable space.

Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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