Extra Space Storage Inc (NYSE:EXR) – Stock analysts at DA Davidson cut their Q3 2017 EPS estimates for Extra Space Storage in a report released on Thursday. DA Davidson analyst B. Oxford now forecasts that the real estate investment trust will post earnings per share of $1.07 for the quarter, down from their previous estimate of $1.08. DA Davidson also issued estimates for Extra Space Storage’s Q4 2017 earnings at $1.11 EPS, Q1 2018 earnings at $1.06 EPS, Q2 2018 earnings at $1.10 EPS, Q3 2018 earnings at $1.13 EPS, Q4 2018 earnings at $1.16 EPS and FY2018 earnings at $4.45 EPS.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The business had revenue of $276 million during the quarter, compared to analysts’ expectations of $239.89 million. During the same period in the previous year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Analysts Offer Predictions for Extra Space Storage Inc’s Q3 2017 Earnings (NYSE:EXR)” was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/08/07/analysts-offer-predictions-for-extra-space-storage-incs-q3-2017-earnings-nyseexr.html.

Other research analysts have also issued reports about the company. Citigroup Inc. reaffirmed a “neutral” rating on shares of Extra Space Storage in a research report on Thursday, May 11th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $80.00 target price on shares of Extra Space Storage in a research report on Thursday, April 27th. Bank of America Corporation lowered Extra Space Storage from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $83.00 to $81.00 in a research report on Thursday, July 20th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $77.00 target price on shares of Extra Space Storage in a research report on Monday, May 22nd. Finally, BidaskClub raised Extra Space Storage from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $85.67.

Shares of Extra Space Storage (NYSE:EXR) opened at 77.75 on Monday. Extra Space Storage has a 52 week low of $68.09 and a 52 week high of $85.12. The firm has a market capitalization of $9.77 billion, a PE ratio of 26.65 and a beta of 0.34. The company’s 50 day moving average price is $77.55 and its 200-day moving average price is $76.27.

Hedge funds have recently modified their holdings of the company. Cleararc Capital Inc. increased its stake in shares of Extra Space Storage by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,095 shares of the real estate investment trust’s stock worth $230,000 after buying an additional 22 shares during the last quarter. Creative Planning increased its stake in shares of Extra Space Storage by 1.1% in the second quarter. Creative Planning now owns 5,912 shares of the real estate investment trust’s stock worth $461,000 after buying an additional 62 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Extra Space Storage by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,810 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 88 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Extra Space Storage by 0.3% in the first quarter. Arizona State Retirement System now owns 36,400 shares of the real estate investment trust’s stock worth $2,708,000 after buying an additional 100 shares during the last quarter. Finally, Kissinger Financial Services LLC increased its stake in shares of Extra Space Storage by 0.9% in the second quarter. Kissinger Financial Services LLC now owns 10,709 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 100 shares during the last quarter.

In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was 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 in the company, valued at approximately $52,134,725.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Overturf sold 1,300 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $74.59, for a total value of $96,967.00. Following the sale, the executive vice president now owns 89,475 shares of the company’s stock, valued at $6,673,940.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,900 shares of company stock valued at $4,957,788. Company insiders own 3.72% of the company’s stock.

Extra Space Storage Company Profile

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.

Earnings History and Estimates for Extra Space Storage (NYSE:EXR)

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