Equities analysts forecast that Extra Space Storage, Inc. (NYSE:EXR) will post $1.20 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Extra Space Storage’s earnings, with estimates ranging from $1.17 to $1.23. Extra Space Storage posted earnings of $1.15 per share during the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The business is scheduled to issue its next quarterly earnings report on Tuesday, July 30th.
On average, analysts expect that Extra Space Storage will report full year earnings of $4.81 per share for the current fiscal year, with EPS estimates ranging from $4.76 to $4.85. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.04 per share, with EPS estimates ranging from $4.95 to $5.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Extra Space Storage.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.02. The company had revenue of $271.00 million during the quarter, compared to the consensus estimate of $266.01 million. Extra Space Storage had a net margin of 37.12% and a return on equity of 16.56%. Extra Space Storage’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS.
A number of research firms have recently weighed in on EXR. BMO Capital Markets reaffirmed a “hold” rating and set a $94.00 price target on shares of Extra Space Storage in a research note on Wednesday, May 1st. Evercore ISI cut shares of Extra Space Storage from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. Zacks Investment Research cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Raymond James cut shares of Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 price target on the stock. in a research note on Thursday, March 21st. Finally, ValuEngine raised shares of Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $97.93.
In other Extra Space Storage news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $99.64, for a total transaction of $87,683.20. Following the sale, the executive vice president now directly owns 70,489 shares of the company’s stock, valued at approximately $7,023,523.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Samrat Sondhi sold 4,480 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.99, for a total transaction of $479,315.20. Following the sale, the chief operating officer now directly owns 76,879 shares in the company, valued at $8,225,284.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,856 shares of company stock worth $14,260,018. 3.29% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc grew its position in shares of Extra Space Storage by 0.9% during the third quarter. Vanguard Group Inc now owns 20,515,679 shares of the real estate investment trust’s stock worth $1,777,479,000 after buying an additional 175,852 shares in the last quarter. BlackRock Inc. increased its stake in Extra Space Storage by 1.0% in the 1st quarter. BlackRock Inc. now owns 13,302,708 shares of the real estate investment trust’s stock worth $1,355,678,000 after purchasing an additional 135,871 shares in the last quarter. Cohen & Steers Inc. grew its stake in Extra Space Storage by 2.3% during the 4th quarter. Cohen & Steers Inc. now owns 8,158,274 shares of the real estate investment trust’s stock valued at $738,161,000 after acquiring an additional 185,762 shares in the last quarter. Principal Financial Group Inc. grew its stake in Extra Space Storage by 8.8% during the 1st quarter. Principal Financial Group Inc. now owns 3,984,402 shares of the real estate investment trust’s stock valued at $406,050,000 after acquiring an additional 321,688 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Extra Space Storage by 24.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,386,588 shares of the real estate investment trust’s stock valued at $345,127,000 after acquiring an additional 657,927 shares in the last quarter. Institutional investors and hedge funds own 98.23% of the company’s stock.
Extra Space Storage stock traded up $0.59 during trading hours on Friday, reaching $106.84. 28,900 shares of the stock were exchanged, compared to its average volume of 965,168. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.47 and a current ratio of 0.47. Extra Space Storage has a 52-week low of $83.70 and a 52-week high of $108.20. The company has a market cap of $13.58 billion, a P/E ratio of 22.88, a PEG ratio of 4.69 and a beta of 0.30.
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, 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.
Recommended Story: How do candlesticks reflect price movement?
Get a free copy of the Zacks research report on Extra Space Storage (EXR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Extra Space Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extra Space Storage and related companies with MarketBeat.com's FREE daily email newsletter.