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.
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
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