Extra Space Storage Inc (NYSE:EXR) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.25 to $4.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.25.
Extra Space Storage Inc (NYSE EXR) traded down 2.69% during mid-day trading on Thursday, hitting $77.13. 1,212,906 shares of the company’s stock were exchanged. The stock has a market capitalization of $9.69 billion, a P/E ratio of 26.70 and a beta of 0.34. Extra Space Storage Inc has a 52 week low of $68.09 and a 52 week high of $85.12. The firm has a 50 day moving average of $77.55 and a 200 day moving average of $76.27.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.04. The business had revenue of $276 million for the quarter, compared to the consensus estimate of $239.89 million. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.21%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. Equities analysts forecast that Extra Space Storage Inc will post $2.66 earnings per share for the current fiscal year.
EXR has been the topic of several research reports. Goldman Sachs Group, Inc. (The) upgraded shares of Extra Space Storage from a buy rating to a conviction-buy rating and set a $95.00 price target on the stock in a research report on Monday, May 15th. BidaskClub upgraded shares of Extra Space Storage from a hold rating to a buy rating in a research report on Saturday, June 17th. Royal Bank Of Canada reiterated a hold rating and set a $80.00 price target on shares of Extra Space Storage in a research report on Thursday, April 27th. Bank of America Corporation downgraded shares of Extra Space Storage from a buy rating to a neutral rating and reduced their price target for the stock from $83.00 to $81.00 in a research report on Thursday, July 20th. Finally, Cantor Fitzgerald reiterated a neutral rating and set a $77.00 price target on shares of Extra Space Storage in a research report on Monday, May 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $85.67.
In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.09, for a total transaction of $1,581,800.00. Following the transaction, the director now directly owns 665,748 shares in the company, valued at approximately $52,654,009.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $77.27, for a total transaction of $100,451.00. Following the transaction, the executive vice president now owns 87,575 shares in the company, valued at $6,766,920.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,900 shares of company stock worth $4,957,788. Corporate 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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