Extra Space Storage Inc (EXR) Receives Hold Rating from KeyCorp
Extra Space Storage Inc (NYSE:EXR)‘s stock had its “hold” rating restated by analysts at KeyCorp in a research note issued to investors on Wednesday.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Wednesday. Evercore ISI reiterated an “in-line” rating and issued a $80.00 price target (up previously from $78.00) on shares of Extra Space Storage in a research note on Thursday, September 14th. BMO Capital Markets began coverage on shares of Extra Space Storage in a research note on Monday, September 11th. They issued a “market perform” rating and a $78.00 price target for the company. Cantor Fitzgerald reiterated a “hold” rating and issued a $77.00 price target on shares of Extra Space Storage in a research note on Friday, September 1st. Finally, BidaskClub downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $82.56.
Extra Space Storage (NYSE EXR) traded up 1.09% on Wednesday, hitting $81.45. 751,558 shares of the company traded hands. The stock’s 50-day moving average is $79.04 and its 200 day moving average is $77.31. The firm has a market capitalization of $10.26 billion, a P/E ratio of 27.84 and a beta of 0.36. Extra Space Storage has a 12 month low of $68.09 and a 12 month high of $83.23.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. The company had revenue of $276.00 million during the quarter, compared to the consensus estimate of $239.89 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts forecast that Extra Space Storage will post $2.76 EPS for the current fiscal year.
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In other Extra Space Storage news, EVP James Overturf sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $75.50, for a total transaction of $98,150.00. Following the sale, the executive vice president now owns 86,275 shares of the company’s stock, valued at $6,513,762.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $79.09, for a total transaction of $1,581,800.00. Following the sale, the director now directly owns 665,748 shares in the company, valued at approximately $52,654,009.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,900 shares of company stock worth $5,037,638. 3.72% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in EXR. Global X Management Co. LLC raised its holdings in Extra Space Storage by 42.4% during the first quarter. Global X Management Co. LLC now owns 2,830 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 842 shares in the last quarter. Atria Investments LLC acquired a new stake in Extra Space Storage during the second quarter worth approximately $213,000. Achmea Investment Management B.V. acquired a new stake in Extra Space Storage during the first quarter worth approximately $216,000. Mackenzie Financial Corp acquired a new stake in Extra Space Storage during the first quarter worth approximately $218,000. Finally, Federated Investors Inc. PA acquired a new stake in Extra Space Storage during the second quarter worth approximately $218,000.
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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