Jefferies Group Increases Extra Space Storage Price Target to $52.00 (EXR)
Equities researchers at Jefferies Group boosted their target price on shares of Extra Space Storage (NYSE:EXR) from $49.00 to $52.00 in a research report issued on Wednesday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 12.92% from the stock’s previous close.
Shares of Extra Space Storage (NYSE:EXR) traded up 4.26% on Wednesday, hitting $46.05. The stock had a trading volume of 677,643 shares. Extra Space Storage has a 52-week low of $32.59 and a 52-week high of $45.29. The stock has a 50-day moving average of $42.50 and a 200-day moving average of $42.03. The company has a market cap of $5.122 billion and a price-to-earnings ratio of 34.13.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The company had revenue of $126.20 million for the quarter, compared to the consensus estimate of $123.77 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 33.0% on a year-over-year basis. On average, analysts predict that Extra Space Storage will post $2.00 earnings per share for the current fiscal year.
A number of other firms have also recently commented on EXR. Analysts at Goldman Sachs Group Inc. downgraded shares of Extra Space Storage (NYSE:EXR) from a “conviction-buy” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at Macquarie initiated coverage on shares of Extra Space Storage (NYSE:EXR) in a research note to investors on Tuesday, September 10th. They set an “outperform” rating on the stock. Finally, analysts at RBC Capital raised their price target on shares of Extra Space Storage (NYSE:EXR) from $46.00 to $47.00 in a research note to investors on Friday, August 16th. They now have an “outperform” rating on the stock.
One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Extra Space Storage currently has a consensus rating of “Buy” and a consensus target price of $41.58.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, September 12th.
In other Extra Space Storage news, VP Grace Kunde unloaded 1,700 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $44.35, for a total transaction of $75,395.00. Following the completion of the sale, the vice president now directly owns 7,146 shares in the company. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (NYSE:EXR).
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