Zacks: Brokerages Anticipate Extra Space Storage, Inc. (EXR) Will Post Earnings of $1.09 Per Share

Equities analysts expect that Extra Space Storage, Inc. (NYSE:EXR) will post earnings per share (EPS) of $1.09 for the current quarter, according to Zacks. Five analysts have made estimates for Extra Space Storage’s earnings, with estimates ranging from $1.08 to $1.12. Extra Space Storage posted earnings per share of $1.03 in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The firm is scheduled to issue its next earnings results after the market closes on Tuesday, May 1st.

On average, analysts expect that Extra Space Storage will report full-year earnings of $4.59 per share for the current financial year, with EPS estimates ranging from $4.46 to $4.65. For the next year, analysts expect that the business will post earnings of $4.78 per share, with EPS estimates ranging from $4.63 to $4.92. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Extra Space Storage.

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Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.55. The business had revenue of $281.84 million for the quarter, compared to analysts’ expectations of $283.74 million. Extra Space Storage had a return on equity of 18.87% and a net margin of 44.67%.



Several research firms recently commented on EXR. SunTrust Banks reissued a “hold” rating and issued a $88.00 target price on shares of Extra Space Storage in a report on Friday, April 13th. Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 price objective on the stock in a report on Tuesday, March 6th. Cantor Fitzgerald set a $86.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a report on Thursday, March 8th. Jefferies Group set a $92.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a report on Tuesday, March 6th. Finally, BMO Capital Markets set a $78.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $87.00.

Shares of NYSE EXR traded down $1.31 during mid-day trading on Friday, hitting $86.09. The company had a trading volume of 738,808 shares, compared to its average volume of 899,148. The stock has a market cap of $11,015.68, a P/E ratio of 19.66, a PEG ratio of 3.32 and a beta of 0.21. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.67. Extra Space Storage has a 1-year low of $71.34 and a 1-year high of $89.62.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Wednesday, March 14th. Extra Space Storage’s dividend payout ratio is currently 71.23%.

In related news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction dated Tuesday, April 17th. The stock was sold at an average price of $88.22, for a total transaction of $77,633.60. Following the transaction, the executive vice president now owns 80,377 shares of the company’s stock, valued at $7,090,858.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP P Scott Stubbs sold 9,250 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $85.73, for a total value of $793,002.50. Following the transaction, the vice president now directly owns 144,973 shares in the company, valued at approximately $12,428,535.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,300 shares of company stock worth $5,393,630. Corporate insiders own 3.52% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Extra Space Storage by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 1,508,360 shares of the real estate investment trust’s stock valued at $131,665,000 after purchasing an additional 59,298 shares during the period. Lourd Capital LLC acquired a new position in shares of Extra Space Storage during the 4th quarter valued at $348,000. Comerica Bank lifted its holdings in shares of 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 valued at $3,708,000 after acquiring an additional 2,388 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of 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 valued at $22,447,000 after acquiring an additional 10,813 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Extra Space Storage by 3.4% during the 4th quarter. TIAA CREF Investment Management LLC now owns 619,194 shares of the real estate investment trust’s stock valued at $54,149,000 after acquiring an additional 20,591 shares in the last quarter.

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Extra Space Storage Company Profile

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

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