SunTrust Banks reissued their hold rating on shares of Extra Space Storage (NYSE:EXR) in a research report released on Friday morning. SunTrust Banks currently has a $88.00 target price on the real estate investment trust’s stock.
A number of other research analysts have also weighed in on EXR. Zacks Investment Research raised shares of Extra Space Storage from a hold rating to a buy rating and set a $97.00 target price for the company in a report on Tuesday, March 6th. Cantor Fitzgerald set a $86.00 target price on shares of Extra Space Storage and gave the company a hold rating in a report on Thursday, March 8th. Jefferies Group set a $92.00 target price on shares of Extra Space Storage and gave the company a hold rating in a report on Tuesday, March 6th. Finally, BMO Capital Markets set a $78.00 target price on shares of Extra Space Storage and gave the company a hold rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $87.00.
Extra Space Storage stock opened at $87.35 on Friday. The company has a market cap of $10,975.35, a PE ratio of 19.94, a P/E/G ratio of 3.31 and a beta of 0.21. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.67. Extra Space Storage has a 1 year low of $71.34 and a 1 year high of $88.56.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.55. The firm had revenue of $281.84 million for the quarter, compared to analysts’ expectations of $283.74 million. Extra Space Storage had a net margin of 44.67% and a return on equity of 18.87%. analysts anticipate that Extra Space Storage will post 4.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Wednesday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 71.23%.
In other Extra Space Storage news, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $81.62, for a total transaction of $71,825.60. Following the completion of the transaction, the executive vice president now directly owns 82,577 shares of the company’s stock, valued at $6,739,934.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP P Scott Stubbs sold 9,250 shares of Extra Space Storage stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $85.73, for a total transaction of $793,002.50. Following the transaction, the vice president now directly owns 144,973 shares of the company’s stock, valued at $12,428,535.29. The disclosure for this sale can be found here. Insiders have sold 62,300 shares of company stock valued at $5,388,931 over the last ninety days. 3.52% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Fieldpoint Private Securities LLC purchased a new position in Extra Space Storage during the third quarter worth $103,000. Conning Inc. purchased a new position in Extra Space Storage during the fourth quarter worth $202,000. Janney Montgomery Scott LLC purchased a new position in Extra Space Storage during the third quarter worth $200,000. Cambridge Investment Research Advisors Inc. purchased a new position in Extra Space Storage during the fourth quarter worth $245,000. Finally, Fox Run Management L.L.C. purchased a new position in Extra Space Storage during the fourth quarter worth $250,000.
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Extra Space Storage Company Profile
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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