Extra Space Storage Inc (EXR) Set to Announce Earnings on Tuesday
Extra Space Storage Inc (NYSE:EXR) will post its quarterly earnings results after the market closes on Tuesday, August 1st. Analysts expect Extra Space Storage to post earnings of $1.05 per share for the quarter.
Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.05. Extra Space Storage had a return on equity of 14.92% and a net margin of 36.40%. The business had revenue of $263 million during the quarter, compared to the consensus estimate of $233.12 million. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, analysts expect Extra Space Storage to post $4.25 EPS for the current fiscal year and $4.45 EPS for the next fiscal year.
Shares of Extra Space Storage Inc (NYSE:EXR) traded down 5.12% during trading on Thursday, hitting $76.19. The stock had a trading volume of 601,232 shares. The stock’s 50-day moving average price is $77.20 and its 200-day moving average price is $76.17. The company has a market cap of $9.57 billion, a P/E ratio of 26.37 and a beta of 0.35. Extra Space Storage Inc has a one year low of $68.09 and a one year high of $88.88.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were paid a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.89%. Extra Space Storage’s payout ratio is presently 108.33%.
A number of research firms have recently commented on EXR. BidaskClub upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a research note on Monday. Bank of America Corporation lowered Extra Space Storage from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $83.00 to $81.00 in a research note on Thursday, July 20th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $77.00 price objective on shares of Extra Space Storage in a research note on Monday, May 22nd. Goldman Sachs Group, Inc. (The) upgraded Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price objective on the stock in a research note on Monday, May 15th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of Extra Space Storage in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Extra Space Storage has an average rating of “Hold” and a consensus price target of $86.45.
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In other news, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $75.28, for a total value of $1,505,600.00. Following the sale, the director now directly owns 664,430 shares in the company, valued at approximately $50,018,290.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $74.59, for a total value of $96,967.00. Following the completion of the sale, the executive vice president now owns 89,475 shares in the company, valued at $6,673,940.25. The disclosure for this sale can be found here. Insiders have sold 63,900 shares of company stock worth $4,881,588 over the last 90 days. Corporate insiders own 3.72% of the company’s stock.
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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