Analysts expect that Extra Space Storage, Inc. (NYSE:EXR) will announce earnings of $1.19 per share for the current quarter, according to Zacks. Five analysts have provided estimates for Extra Space Storage’s earnings. The highest EPS estimate is $1.21 and the lowest is $1.18. Extra Space Storage posted earnings per share of $1.13 during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The firm is scheduled to report its next earnings results after the market closes on Tuesday, October 30th.

According to Zacks, analysts expect that Extra Space Storage will report full-year earnings of $4.63 per share for the current financial year, with EPS estimates ranging from $4.59 to $4.66. For the next fiscal year, analysts expect that the business will post earnings of $4.87 per share, with EPS estimates ranging from $4.80 to $4.95. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Extra Space Storage.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $258.13 million during the quarter, compared to analysts’ expectations of $257.14 million. Extra Space Storage had a return on equity of 18.93% and a net margin of 44.23%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.09 earnings per share.

EXR has been the topic of a number of recent analyst reports. ValuEngine downgraded Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Citigroup decreased their target price on Extra Space Storage from $103.00 to $92.00 and set a “hold” rating on the stock in a research report on Friday, October 5th. Robert W. Baird downgraded Extra Space Storage from an “outperform” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Wednesday, July 18th. Goldman Sachs Group downgraded Extra Space Storage from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, July 12th. Finally, Zacks Investment Research downgraded Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $95.27.

In other Extra Space Storage news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $86.24, for a total transaction of $75,891.20. Following the completion of the sale, the executive vice president now owns 72,097 shares of the company’s stock, valued at $6,217,645.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 2,640 shares of company stock valued at $235,849. 3.52% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of EXR. Massachusetts Financial Services Co. MA grew its stake in shares of Extra Space Storage by 205.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,059,696 shares of the real estate investment trust’s stock valued at $205,577,000 after buying an additional 1,385,706 shares in the last quarter. Cbre Clarion Securities LLC grew its stake in shares of Extra Space Storage by 20.6% in the second quarter. Cbre Clarion Securities LLC now owns 4,585,475 shares of the real estate investment trust’s stock valued at $457,676,000 after buying an additional 781,758 shares in the last quarter. Barings LLC grew its stake in shares of Extra Space Storage by 7,994.1% in the third quarter. Barings LLC now owns 639,431 shares of the real estate investment trust’s stock valued at $55,400,000 after buying an additional 631,531 shares in the last quarter. Millennium Management LLC grew its stake in shares of Extra Space Storage by 1,286.2% in the first quarter. Millennium Management LLC now owns 412,538 shares of the real estate investment trust’s stock valued at $36,039,000 after buying an additional 382,778 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Extra Space Storage by 203.5% in the second quarter. Morgan Stanley now owns 492,182 shares of the real estate investment trust’s stock valued at $49,124,000 after buying an additional 330,022 shares in the last quarter.

EXR stock traded down $0.58 during mid-day trading on Friday, reaching $87.69. 1,486,503 shares of the company’s stock were exchanged, compared to its average volume of 828,807. The company has a market capitalization of $11.09 billion, a P/E ratio of 20.02, a P/E/G ratio of 3.68 and a beta of 0.11. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.76. Extra Space Storage has a 12-month low of $77.53 and a 12-month high of $101.96.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $3.44 annualized dividend and a yield of 3.92%. Extra Space Storage’s dividend payout ratio (DPR) is 78.54%.

About Extra Space Storage

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 June 30, 2018, the Company owned and/or operated 1,568 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,090,000 units and approximately 119 million square feet of rentable space.

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