Extra Space Storage Receives Consensus Recommendation of “Hold” from Analysts (NYSE:EXR)
Shares of Extra Space Storage (NYSE:EXR) have received an average rating of “Hold” from the twelve brokerages that are currently covering the stock, American Banking and Market News reports. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $50.65.
In other Extra Space Storage news, SVP Grace Kunde sold 1,543 shares of Extra Space Storage stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $52.50, for a total value of $81,007.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Extra Space Storage (NYSE:EXR) opened at 54.12 on Friday. Extra Space Storage has a 52-week low of $39.98 and a 52-week high of $54.19. The stock has a 50-day moving average of $51.71 and a 200-day moving average of $46.85. The company has a market cap of $6.275 billion and a price-to-earnings ratio of 34.47.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.02. The company had revenue of $152.20 million for the quarter, compared to the consensus estimate of $142.90 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. On average, analysts predict that Extra Space Storage will post $2.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Wednesday, June 11th. This is a positive change from Extra Space Storage’s previous quarterly dividend of $0.40.
A number of analysts have recently weighed in on EXR shares. Analysts at Jefferies Group downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. They now have a $53.00 price target on the stock. Separately, analysts at KeyCorp downgraded shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. They now have a $50.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Extra Space Storage in a research note on Thursday, May 1st. They now have a $51.00 price target on the stock.
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (NYSE:EXR).
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