Extra Space Storage Inc (EXR) Sets New 52-Week High at $82.72
Extra Space Storage Inc (NYSE:EXR) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $82.72 and last traded at $82.69, with a volume of 548,569 shares. The stock had previously closed at $81.24.
EXR has been the topic of several research analyst reports. Citigroup Inc. restated a “neutral” rating on shares of Extra Space Storage in a research note on Thursday, May 11th. Goldman Sachs Group, Inc. (The) upgraded shares of Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price objective on the stock in a research note on Monday, May 15th. Cantor Fitzgerald restated a “neutral” rating and issued a $77.00 price objective on shares of Extra Space Storage in a research note on Monday, May 22nd. BidaskClub upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Bank of America Corporation downgraded shares of Extra Space Storage from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $83.00 to $81.00 in a research note on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Extra Space Storage currently has a consensus rating of “Hold” and a consensus price target of $82.25.
The company has a 50-day moving average of $77.66 and a 200 day moving average of $76.90. The stock has a market capitalization of $10.40 billion, a PE ratio of 28.20 and a beta of 0.35.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The firm had revenue of $276 million for the quarter, compared to analyst estimates of $239.89 million. During the same period in the prior year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities analysts predict that Extra Space Storage Inc will post $2.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Thursday, September 14th. Extra Space Storage’s dividend payout ratio is 107.22%.
In other Extra Space Storage news, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $77.27, for a total value of $100,451.00. Following the transaction, the executive vice president now directly owns 87,575 shares of the company’s stock, valued at approximately $6,766,920.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $78.31, for a total value of $1,566,200.00. Following the completion of the transaction, the director now directly owns 665,748 shares in the company, valued at $52,134,725.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,600 shares of company stock worth $4,909,001. Insiders own 3.72% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new position in Extra Space Storage in the 1st quarter valued at $204,000. Pacer Advisors Inc. grew its holdings in Extra Space Storage by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 2,810 shares of the real estate investment trust’s stock valued at $209,000 after buying an additional 88 shares in the last quarter. Global X Management Co. LLC grew its holdings in Extra Space Storage by 42.4% in the 1st quarter. Global X Management Co. LLC now owns 2,830 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 842 shares in the last quarter. Atria Investments LLC acquired a new position in Extra Space Storage in the 2nd quarter valued at $213,000. Finally, Achmea Investment Management B.V. acquired a new position in Extra Space Storage in the 1st quarter valued at $216,000.
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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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