FY2018 EPS Estimates for Extra Space Storage, Inc. Decreased by Jefferies Group (EXR)
Extra Space Storage, Inc. (NYSE:EXR) – Jefferies Group cut their FY2018 earnings per share (EPS) estimates for shares of Extra Space Storage in a report issued on Thursday, April 12th. Jefferies Group analyst G. Hoglund now expects that the real estate investment trust will post earnings of $4.63 per share for the year, down from their previous estimate of $4.64. Jefferies Group has a “Hold” rating and a $92.00 price target on the stock.
Several other equities analysts have also recently weighed in on the stock. BMO Capital Markets set a $78.00 target price on shares of Extra Space Storage and gave the company a “hold” rating in a research note on Tuesday, February 20th. Cantor Fitzgerald set a $83.00 target price on shares of Extra Space Storage and gave the company a “hold” rating in a research note on Wednesday, February 21st. 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 research note on Tuesday, March 6th. Finally, SunTrust Banks reissued a “hold” rating and issued a $88.00 target price on shares of Extra Space Storage in a research note on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $87.00.
Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.55. Extra Space Storage had a net margin of 44.67% and a return on equity of 18.87%. The business had revenue of $281.84 million during the quarter, compared to analysts’ expectations of $283.74 million.
A number of institutional investors have recently made changes to their positions in EXR. Janus Henderson Group PLC lifted its holdings in Extra Space Storage by 13.3% during the 3rd quarter. Janus Henderson Group PLC now owns 46,544 shares of the real estate investment trust’s stock valued at $3,720,000 after purchasing an additional 5,461 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Extra Space Storage during the 3rd quarter valued at $200,000. California Public Employees Retirement System lifted its holdings in Extra Space Storage by 4.0% during the 3rd quarter. California Public Employees Retirement System now owns 280,870 shares of the real estate investment trust’s stock valued at $22,447,000 after purchasing an additional 10,813 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in Extra Space Storage during the 3rd quarter valued at $348,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Extra Space Storage by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 196,543 shares of the real estate investment trust’s stock valued at $15,708,000 after purchasing an additional 1,174 shares during the last quarter.
In other Extra Space Storage news, Director Diane Olmstead sold 1,436 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.04, for a total transaction of $124,989.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Overturf sold 880 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $82.88, for a total value of $72,934.40. Following the sale, the executive vice president now directly owns 79,935 shares of the company’s stock, valued at approximately $6,625,012.80. The disclosure for this sale can be found here. Insiders have sold a total of 62,300 shares of company stock valued at $5,388,931 in the last ninety days. Insiders own 3.52% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.57%. The ex-dividend date was Wednesday, March 14th. Extra Space Storage’s dividend payout ratio is 71.23%.
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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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