Extra Space Storage (EXR) Posts Quarterly Results
Extra Space Storage (NYSE:EXR) announced its earnings results on Wednesday. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01, American Banking News reports. The company had revenue of $160.20 million for the quarter, compared to the consensus estimate of $153.02 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 26.9% on a year-over-year basis.
Extra Space Storage (NYSE:EXR) traded up 0.19% on Wednesday, hitting $53.04. The stock had a trading volume of 612,671 shares. Extra Space Storage has a 1-year low of $39.98 and a 1-year high of $54.44. The stock has a 50-day moving average of $53.25 and a 200-day moving average of $49.97. The company has a market cap of $6.150 billion and a price-to-earnings ratio of 33.72.
Several analysts have recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Extra Space Storage from $53.00 to $57.00 in a research note on Tuesday, July 22nd. Finally, 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. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $51.42.
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (NYSE:EXR).
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