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.
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