RBC Capital Increases Extra Space Storage Price Target to $58.00 (EXR)
Investment analysts at RBC Capital increased their target price on shares of Extra Space Storage (NYSE:EXR) from $54.00 to $58.00 in a note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price suggests a potential upside of 7.53% from the company’s current price.
EXR has been the subject of a number of other recent research reports. Analysts at ISI Group raised their price target on shares of Extra Space Storage from $54.00 to $57.00 in a research note on Thursday, July 31st. 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $53.39.
Shares of Extra Space Storage (NYSE:EXR) traded down 0.17% on Friday, hitting $53.85. The stock had a trading volume of 782,260 shares. Extra Space Storage has a 1-year low of $39.98 and a 1-year high of $54.44. The stock’s 50-day moving average is $53.03 and its 200-day moving average is $50.56. The company has a market cap of $6.248 billion and a P/E ratio of 33.48.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.63 by $0.01. 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 prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was up 26.9% on a year-over-year basis. Analysts expect that Extra Space Storage will post $2.48 EPS for the current fiscal year.
In other Extra Space Storage news, CMO James Overturf sold 1,975 shares of the company’s stock on the open market in a transaction dated Thursday, August 7th. The stock was sold at an average price of $52.17, for a total transaction of $103,035.75. The sale was disclosed in a document filed with the SEC, 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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