Brokerages expect Extra Space Storage, Inc. (NYSE:EXR) to announce $1.20 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Extra Space Storage’s earnings. The lowest EPS estimate is $1.19 and the highest is $1.22. Extra Space Storage reported earnings per share of $1.12 in the same quarter last year, which suggests a positive year-over-year growth rate of 7.1%. The business is scheduled to announce its next quarterly earnings results on Tuesday, February 19th.

On average, analysts expect that Extra Space Storage will report full-year earnings of $4.63 per share for the current fiscal year, with EPS estimates ranging from $4.59 to $4.66. For the next year, analysts anticipate that the company will report earnings of $4.87 per share, with EPS estimates ranging from $4.77 to $4.96. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Extra Space Storage.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.17). Extra Space Storage had a return on equity of 20.11% and a net margin of 47.29%. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $266.81 million. During the same period in the previous year, the firm earned $1.13 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year.

Several brokerages have weighed in on EXR. SunTrust Banks reissued a “hold” rating and set a $93.00 price objective on shares of Extra Space Storage in a research note on Wednesday, August 8th. BMO Capital Markets set a $93.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a research note on Tuesday, July 31st. ValuEngine raised Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Citigroup reduced their price objective on Extra Space Storage from $103.00 to $92.00 and set a “hold” rating on the stock in a research note on Friday, October 5th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $96.40.

NYSE EXR traded down $1.17 during trading hours on Thursday, hitting $94.24. 525,341 shares of the company were exchanged, compared to its average volume of 1,102,441. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.53 and a quick ratio of 0.53. Extra Space Storage has a 52 week low of $77.53 and a 52 week high of $101.96. The stock has a market capitalization of $12.01 billion, a P/E ratio of 21.51, a PEG ratio of 3.74 and a beta of 0.07.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.65%. Extra Space Storage’s dividend payout ratio is 78.54%.

In other news, EVP James Overturf sold 880 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $87.19, for a total transaction of $76,727.20. Following the transaction, the executive vice president now owns 72,977 shares of the company’s stock, valued at $6,362,864.63. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.52% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EXR. First Hawaiian Bank bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $120,000. Assetmark Inc. grew its stake in shares of Extra Space Storage by 7,612.5% during the second quarter. Assetmark Inc. now owns 1,234 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 1,218 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $125,000. Meeder Asset Management Inc. bought a new position in shares of Extra Space Storage during the third quarter valued at approximately $137,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Extra Space Storage during the second quarter valued at approximately $143,000.

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 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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Earnings History and Estimates for Extra Space Storage (NYSE:EXR)

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