FY2019 EPS Estimates for Extra Space Storage, Inc. (EXR) Increased by Analyst

Extra Space Storage, Inc. (NYSE:EXR) – Stock analysts at Jefferies Financial Group raised their FY2019 EPS estimates for Extra Space Storage in a research note issued on Wednesday, April 10th, according to Zacks Investment Research. Jefferies Financial Group analyst O. Okusanya now forecasts that the real estate investment trust will earn $4.78 per share for the year, up from their prior forecast of $4.77. Jefferies Financial Group also issued estimates for Extra Space Storage’s FY2020 earnings at $5.09 EPS.

Several other research analysts have also weighed in on EXR. Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Wednesday, January 16th. ValuEngine downgraded Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Raymond James downgraded Extra Space Storage from an “outperform” rating to a “market perform” rating and set a $99.27 target price on the stock. in a research note on Thursday, March 21st. Finally, Evercore ISI downgraded Extra Space Storage from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $97.93.

Shares of EXR traded down $0.18 during midday trading on Friday, reaching $106.28. The stock had a trading volume of 624,293 shares, compared to its average volume of 858,256. The company has a market capitalization of $13.53 billion, a PE ratio of 22.76, a P/E/G ratio of 4.44 and a beta of 0.30. Extra Space Storage has a 52 week low of $83.70 and a 52 week high of $108.07. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.72 and a current ratio of 0.72.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. Extra Space Storage had a net margin of 37.12% and a return on equity of 16.59%. The firm had revenue of $271.00 million for the quarter, compared to analysts’ expectations of $266.01 million. During the same quarter in the previous year, the company posted $1.09 EPS. The company’s revenue was up 9.3% compared to the same quarter last year.

In other news, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $99.12, for a total value of $87,225.60. Following the completion of the sale, the executive vice president now directly owns 68,577 shares in the company, valued at $6,797,352.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Spencer Kirk sold 45,000 shares of Extra Space Storage stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $95.92, for a total transaction of $4,316,400.00. Following the completion of the sale, the director now owns 502,529 shares of the company’s stock, valued at $48,202,581.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,694 shares of company stock valued at $12,525,301. Corporate insiders own 3.29% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXR. JPMorgan Chase & Co. raised its position in Extra Space Storage by 24.7% during the third quarter. JPMorgan Chase & Co. now owns 758,261 shares of the real estate investment trust’s stock valued at $65,694,000 after purchasing an additional 150,179 shares in the last quarter. Bank of New York Mellon Corp raised its position in Extra Space Storage by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 1,361,516 shares of the real estate investment trust’s stock valued at $117,961,000 after purchasing an additional 20,319 shares in the last quarter. United Services Automobile Association raised its position in Extra Space Storage by 32.9% during the third quarter. United Services Automobile Association now owns 71,260 shares of the real estate investment trust’s stock valued at $6,174,000 after purchasing an additional 17,647 shares in the last quarter. Renaissance Technologies LLC raised its position in Extra Space Storage by 3,884.9% during the third quarter. Renaissance Technologies LLC now owns 422,400 shares of the real estate investment trust’s stock valued at $36,597,000 after purchasing an additional 411,800 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in Extra Space Storage by 24.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 3,352 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 652 shares in the last quarter. Institutional investors own 99.68% of the company’s stock.

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.

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

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