Wall Street brokerages forecast that Extra Space Storage Inc (NYSE:EXR) will post sales of $271.79 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Extra Space Storage’s earnings, with the lowest sales estimate coming in at $260.10 million and the highest estimate coming in at $282.69 million. Extra Space Storage posted sales of $244.27 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.3%. The business is expected to announce its next earnings report after the market closes on Tuesday, August 1st.

On average, analysts expect that Extra Space Storage will report full-year sales of $271.79 million for the current financial year, with estimates ranging from $1.06 billion to $1.12 billion. For the next year, analysts anticipate that the company will report sales of $1.17 billion per share, with estimates ranging from $1.09 billion to $1.21 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Extra Space Storage.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. Extra Space Storage had a net margin of 36.40% and a return on equity of 14.92%. The firm had revenue of $263 million for the quarter, compared to the consensus estimate of $233.12 million. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year.

Several brokerages have issued reports on EXR. Bank of America Corporation cut shares of Extra Space Storage from a “buy” rating to a “neutral” rating in a research note on Thursday. BidaskClub lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Cantor Fitzgerald restated a “neutral” rating and set a $77.00 target price on shares of Extra Space Storage in a research report on Monday, May 22nd. Goldman Sachs Group, Inc. (The) upgraded shares of Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 target price on the stock in a research report on Monday, May 15th. Finally, Citigroup Inc. restated a “neutral” rating on shares of Extra Space Storage in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Extra Space Storage presently has a consensus rating of “Hold” and a consensus target price of $88.18.

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In other Extra Space Storage news, EVP James Overturf sold 1,300 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $77.27, for a total value of $100,451.00. Following the completion of the sale, the executive vice president now owns 87,575 shares of the company’s stock, valued at $6,766,920.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Spencer Kirk sold 20,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $78.31, for a total transaction of $1,566,200.00. Following the completion of the sale, the director now directly owns 665,748 shares of the company’s stock, valued at approximately $52,134,725.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,900 shares of company stock valued at $4,881,588. Corporate insiders own 3.72% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Creative Planning increased its stake in shares of Extra Space Storage by 13.5% in the first quarter. Creative Planning now owns 5,850 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 697 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Extra Space Storage by 7.9% in the first quarter. Mutual of America Capital Management LLC now owns 20,050 shares of the real estate investment trust’s stock valued at $1,492,000 after buying an additional 1,469 shares during the period. Legal & General Group Plc boosted its position in Extra Space Storage by 5.8% in the first quarter. Legal & General Group Plc now owns 789,162 shares of the real estate investment trust’s stock valued at $58,706,000 after buying an additional 43,409 shares during the period. State of Wisconsin Investment Board boosted its position in Extra Space Storage by 14.8% in the first quarter. State of Wisconsin Investment Board now owns 122,734 shares of the real estate investment trust’s stock valued at $9,130,000 after buying an additional 15,867 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Extra Space Storage by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 108,544 shares of the real estate investment trust’s stock valued at $8,074,000 after buying an additional 3,416 shares during the period.

Shares of Extra Space Storage (EXR) traded up 0.95% during mid-day trading on Friday, reaching $78.97. 668,674 shares of the company were exchanged. Extra Space Storage has a 12 month low of $68.09 and a 12 month high of $93.93. The stock has a market capitalization of $9.92 billion, a P/E ratio of 27.33 and a beta of 0.35. The stock has a 50 day moving average price of $76.77 and a 200-day moving average price of $76.14.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 15th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Tuesday, June 13th. Extra Space Storage’s dividend payout ratio (DPR) is presently 108.33%.

About Extra Space Storage

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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