Equities research analysts expect that Extra Space Storage, Inc. (NYSE:EXR) will report $330.81 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Extra Space Storage’s earnings, with the highest sales estimate coming in at $333.70 million and the lowest estimate coming in at $327.73 million. Extra Space Storage posted sales of $306.95 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.8%. The business is expected to issue its next quarterly earnings results on Tuesday, October 29th.
On average, analysts expect that Extra Space Storage will report full-year sales of $1.28 billion for the current fiscal year, with estimates ranging from $1.25 billion to $1.31 billion. For the next year, analysts anticipate that the firm will post sales of $1.34 billion, with estimates ranging from $1.29 billion to $1.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Extra Space Storage.
A number of equities analysts have recently commented on the company. Stifel Nicolaus assumed coverage on Extra Space Storage in a report on Monday. They issued a “buy” rating and a $131.00 target price for the company. Wells Fargo & Co boosted their price objective on Extra Space Storage from $114.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $94.00 target price on shares of Extra Space Storage in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Extra Space Storage has an average rating of “Hold” and a consensus target price of $109.38.
Shares of Extra Space Storage stock traded down $0.33 on Monday, reaching $120.44. The company had a trading volume of 10,565 shares, compared to its average volume of 771,402. The firm has a market cap of $15.64 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 5.45 and a beta of 0.22. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.48 and a quick ratio of 0.48. The firm’s 50-day moving average price is $113.47 and its two-hundred day moving average price is $105.31. Extra Space Storage has a 1 year low of $83.70 and a 1 year high of $122.87.
In other Extra Space Storage news, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction on Friday, May 24th. The stock was sold at an average price of $106.85, for a total transaction of $94,028.00. Following the completion of the sale, the executive vice president now directly owns 68,729 shares of the company’s stock, valued at approximately $7,343,693.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Spencer Kirk sold 248,103 shares of Extra Space Storage stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $121.33, for a total value of $30,102,336.99. Following the sale, the director now directly owns 153,069 shares of the company’s stock, valued at $18,571,861.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,346 shares of company stock valued at $31,027,811. 3.29% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC boosted its holdings in Extra Space Storage by 103.4% in the 2nd quarter. Signaturefd LLC now owns 240 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 122 shares in the last quarter. FinTrust Capital Advisors LLC boosted its position in Extra Space Storage by 116.7% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 234 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 126 shares during the last quarter. Bessemer Group Inc. boosted its position in Extra Space Storage by 2,577.8% in the 2nd quarter. Bessemer Group Inc. now owns 241 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 232 shares during the last quarter. CSat Investment Advisory L.P. boosted its position in Extra Space Storage by 68.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 406 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 165 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in Extra Space Storage by 87.1% in the 2nd quarter. Advisory Services Network LLC now owns 593 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 276 shares during the last quarter. 98.59% of the stock is owned by institutional investors and hedge funds.
About Extra Space Storage
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, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.
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