Brokerages Set Extra Space Storage, Inc. (NYSE:EXR) PT at $96.47

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Extra Space Storage, Inc. (NYSE:EXR) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $94.21.

A number of brokerages have recently issued reports on EXR. Evercore ISI lowered shares of Essex Property Trust from an “outperform” rating to an “in-line” rating in a research note on Monday, April 1st. Raymond James set a $28.00 target price on shares of Wheaton Precious Metals and gave the company a “buy” rating in a research note on Thursday, March 21st. BMO Capital Markets reissued a “hold” rating and set a $45.00 target price on shares of SAP in a research note on Wednesday, May 1st. Finally, Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd.

In other Extra Space Storage news, VP P Scott Stubbs sold 8,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.92, for a total value of $855,360.00. Following the completion of the transaction, the vice president now directly owns 153,012 shares in the company, valued at $16,360,043.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Grace Kunde sold 623 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $106.23, for a total transaction of $66,181.29. Following the completion of the transaction, the senior vice president now owns 8,940 shares of the company’s stock, valued at $949,696.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,805 shares of company stock valued at $2,438,849. 3.29% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Extra Space Storage by 1.0% during the first quarter. BlackRock Inc. now owns 13,302,708 shares of the real estate investment trust’s stock valued at $1,355,678,000 after acquiring an additional 135,871 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Extra Space Storage by 8.8% in the 1st quarter. Principal Financial Group Inc. now owns 3,984,402 shares of the real estate investment trust’s stock worth $406,050,000 after buying an additional 321,688 shares during the period. Daiwa Securities Group Inc. increased its holdings in Extra Space Storage by 24.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,386,588 shares of the real estate investment trust’s stock worth $345,127,000 after buying an additional 657,927 shares during the period. FMR LLC increased its holdings in Extra Space Storage by 8.0% in the 1st quarter. FMR LLC now owns 2,553,248 shares of the real estate investment trust’s stock worth $260,202,000 after buying an additional 189,209 shares during the period. Finally, Deutsche Bank AG increased its holdings in Extra Space Storage by 6.5% in the 4th quarter. Deutsche Bank AG now owns 2,488,102 shares of the real estate investment trust’s stock worth $225,117,000 after buying an additional 152,021 shares during the period. Institutional investors and hedge funds own 99.90% of the company’s stock.

Shares of EXR traded down $0.24 during trading hours on Friday, reaching $111.10. 32,030 shares of the company traded hands, compared to its average volume of 757,567. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 4.73 and a beta of 0.23. Extra Space Storage has a 12-month low of $83.70 and a 12-month high of $112.62. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average of $108.28.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.02. The firm had revenue of $271.00 million during the quarter, compared to analyst estimates of $266.01 million. Extra Space Storage had a net margin of 37.12% and a return on equity of 16.56%. The business’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, equities analysts expect that Extra Space Storage will post 4.82 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This is a positive change from Extra Space Storage’s previous quarterly dividend of $0.86. This represents a $3.60 dividend on an annualized basis and a yield of 3.24%. Extra Space Storage’s dividend payout ratio is 77.09%.

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 December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.

Further Reading: Current Ratio

Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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