Extra Space Storage Inc. (EXR) Trading Up 2.3%
Extra Space Storage Inc. (NYSE:EXR) was up 2.3% on Tuesday . The stock traded as high as $92.89 and last traded at $92.72, with a volume of 366,142 shares traded. The stock had previously closed at $90.65.
Several equities research analysts have weighed in on EXR shares. Evercore ISI increased their price target on Extra Space Storage to $88.00 in a research report on Monday, March 21st. Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Tuesday. Jefferies Group increased their price target on Extra Space Storage from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, May 31st. BMO Capital Markets reaffirmed a “buy” rating on shares of Extra Space Storage in a research report on Tuesday, May 17th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of Extra Space Storage in a research report on Sunday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $87.44.
The firm’s 50-day moving average price is $90.39 and its 200 day moving average price is $88.75. The company has a market cap of $11.58 billion and a PE ratio of 52.18.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Monday, May 2nd. The real estate investment trust reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.01. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business earned $229.40 million during the quarter, compared to analyst estimates of $204.78 million. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year. On average, equities research analysts anticipate that Extra Space Storage Inc. will post $3.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were paid a $0.78 dividend. This is a positive change from Extra Space Storage’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, June 13th. This represents a $3.12 dividend on an annualized basis and a yield of 3.37%.
In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 500 shares of Extra Space Storage stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $93.50, for a total value of $46,750.00. Following the transaction, the executive vice president now directly owns 14,484 shares in the company, valued at $1,354,254. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Grace Kunde sold 1,700 shares of Extra Space Storage stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $89.47, for a total transaction of $152,099.00. Following the completion of the transaction, the senior vice president now owns 7,008 shares in the company, valued at $627,005.76. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Ashford Investment Management LLC acquired a new position in Extra Space Storage during the fourth quarter worth approximately $2,435,000. Vanguard Group Inc. raised its position in Extra Space Storage by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 17,528,678 shares of the real estate investment trust’s stock worth $1,546,205,000 after buying an additional 974,511 shares in the last quarter. State of Wisconsin Investment Board raised its position in Extra Space Storage by 0.7% in the fourth quarter. State of Wisconsin Investment Board now owns 128,970 shares of the real estate investment trust’s stock worth $11,376,000 after buying an additional 870 shares in the last quarter. OppenheimerFunds Inc. raised its position in Extra Space Storage by 39.0% in the fourth quarter. OppenheimerFunds Inc. now owns 997,755 shares of the real estate investment trust’s stock worth $88,012,000 after buying an additional 279,739 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Extra Space Storage during the fourth quarter worth approximately $4,314,000.
Extra Space Storage Inc is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops professionally managed self-storage properties (stores). The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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