News headlines about Extra Space Storage (NYSE:EXR) have trended somewhat positive recently, according to Accern. The research group identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Extra Space Storage earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned news stories about the real estate investment trust an impact score of 45.9695561412518 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Extra Space Storage (EXR) remained flat at $$82.25 during mid-day trading on Friday. 835,116 shares of the company traded hands, compared to its average volume of 916,328. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $10,360.00, a PE ratio of 30.24, a price-to-earnings-growth ratio of 3.08 and a beta of 0.39. Extra Space Storage has a 52 week low of $71.34 and a 52 week high of $88.56.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $284.16 million during the quarter, compared to analyst estimates of $246.85 million. Extra Space Storage had a return on equity of 14.41% and a net margin of 33.21%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 earnings per share. equities research analysts anticipate that Extra Space Storage will post 4.35 earnings per share for the current year.
Extra Space Storage announced that its board has initiated a share repurchase plan on Monday, November 13th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have commented on the company. Morgan Stanley raised Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 target price for the company in a report on Wednesday, December 13th. Zacks Investment Research cut Extra Space Storage from a “buy” rating to a “hold” rating in a report on Thursday, November 23rd. Royal Bank of Canada increased their target price on Extra Space Storage from $79.00 to $84.00 and gave the company a “sector perform” rating in a report on Tuesday, November 14th. Jefferies Group set a $90.00 target price on Extra Space Storage and gave the company a “hold” rating in a report on Tuesday, November 28th. Finally, Cantor Fitzgerald increased their target price on Extra Space Storage from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $86.42.
In other news, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $81.38, for a total value of $1,627,600.00. Following the completion of the sale, the director now directly owns 665,748 shares in the company, valued at $54,178,572.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $86.55, for a total value of $112,515.00. Following the completion of the sale, the executive vice president now owns 82,375 shares of the company’s stock, valued at $7,129,556.25. The disclosure for this sale can be found here. Insiders sold 44,250 shares of company stock valued at $3,694,071 over the last 90 days. Company insiders own 3.72% of the company’s stock.
About Extra Space Storage
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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