Extra Space Storage (NYSE:EXR) is set to release its earnings data after the market closes on Tuesday, February 20th. Analysts expect Extra Space Storage to post earnings of $0.73 per share for the quarter.
Shares of Extra Space Storage (NYSE:EXR) opened at $82.20 on Monday. The company has a market cap of $10,357.86, a PE ratio of 30.22, a price-to-earnings-growth ratio of 3.39 and a beta of 0.26. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.68. Extra Space Storage has a 1-year low of $71.34 and a 1-year high of $88.56.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.80%. Extra Space Storage’s payout ratio is 114.71%.
Extra Space Storage announced that its board has approved a share buyback plan on Monday, November 13th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
A number of research firms have commented on EXR. Jefferies Group set a $90.00 price objective on shares of Extra Space Storage and gave the company a “hold” rating in a report on Tuesday, November 28th. Wells Fargo & Co set a $93.00 price objective on shares of Extra Space Storage and gave the company a “buy” rating in a report on Thursday, November 30th. Zacks Investment Research downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Robert W. Baird reiterated a “buy” rating and issued a $92.00 price objective on shares of Extra Space Storage in a report on Wednesday, November 29th. Finally, Cantor Fitzgerald increased their price objective on shares of Extra Space Storage from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $86.42.
In other news, SVP Grace Kunde sold 350 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $87.65, for a total transaction of $30,677.50. Following the completion of the sale, the senior vice president now owns 11,209 shares in the company, valued at approximately $982,468.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $85.24, for a total transaction of $1,704,800.00. Following the sale, the director now owns 578,748 shares of the company’s stock, valued at approximately $49,332,479.52. The disclosure for this sale can be found here. Insiders have sold a total of 23,410 shares of company stock valued at $1,992,376 in the last 90 days. Insiders own 3.72% of the company’s stock.
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About Extra Space Storage
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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