Extra Space Storage, Inc. (NYSE:EXR) – Stock analysts at Cantor Fitzgerald issued their FY2019 EPS estimates for Extra Space Storage in a research report issued on Sunday. Cantor Fitzgerald analyst G. Mehta expects that the real estate investment trust will earn $4.84 per share for the year. Cantor Fitzgerald currently has a “Hold” rating and a $86.00 price objective on the stock.
Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Monday, November 27th. Wells Fargo & Co set a $93.00 price target on shares of Extra Space Storage and gave the company a “buy” rating in a research report on Thursday, November 30th. Robert W. Baird reissued a “buy” rating and set a $92.00 price target on shares of Extra Space Storage in a research report on Wednesday, November 29th. Morgan Stanley raised shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 price target for the company in a research report on Wednesday, December 13th. Finally, Jefferies Group set a $92.00 price target on shares of Extra Space Storage and gave the company a “hold” rating in a research report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $86.92.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.55. The business had revenue of $281.84 million during the quarter, compared to analyst estimates of $283.74 million. Extra Space Storage had a net margin of 44.67% and a return on equity of 18.87%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Santa Barbara Asset Management LLC raised its position in Extra Space Storage by 2.2% during the 3rd quarter. Santa Barbara Asset Management LLC now owns 1,145,411 shares of the real estate investment trust’s stock worth $91,541,000 after buying an additional 24,250 shares during the last quarter. Lourd Capital LLC purchased a new position in Extra Space Storage during the 4th quarter worth approximately $348,000. Comerica Bank raised its position in Extra Space Storage by 5.8% during the 4th quarter. Comerica Bank now owns 43,351 shares of the real estate investment trust’s stock worth $3,708,000 after buying an additional 2,388 shares during the last quarter. California Public Employees Retirement System raised its position in Extra Space Storage by 4.0% during the 3rd quarter. California Public Employees Retirement System now owns 280,870 shares of the real estate investment trust’s stock worth $22,447,000 after buying an additional 10,813 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Extra Space Storage by 13.3% during the 3rd quarter. Janus Henderson Group PLC now owns 46,544 shares of the real estate investment trust’s stock worth $3,720,000 after buying an additional 5,461 shares during the last quarter.
In other Extra Space Storage news, Director Diane Olmstead sold 1,436 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.04, for a total transaction of $124,989.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $86.26, for a total transaction of $112,138.00. Following the transaction, the executive vice president now directly owns 81,075 shares of the company’s stock, valued at $6,993,529.50. The disclosure for this sale can be found here. Insiders sold a total of 53,470 shares of company stock valued at $4,632,976 over the last ninety days. 3.72% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, March 14th. Extra Space Storage’s payout ratio is currently 82.98%.
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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