Shares of Extra Space Storage Inc (NYSE:EXR) have received a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $85.70.

A number of research analysts have commented on EXR shares. Cantor Fitzgerald restated a “hold” rating and issued a $77.00 target price on shares of Extra Space Storage in a research note on Friday, September 1st. Evercore ISI reaffirmed 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 report on Thursday, September 14th. BMO Capital Markets initiated coverage on Extra Space Storage in a research report on Monday, September 11th. They issued a “market perform” rating and a $78.00 price target for the company. Zacks Investment Research raised Extra Space Storage from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Wednesday, October 11th. Finally, Royal Bank of Canada boosted their price target on Extra Space Storage from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 14th.

Extra Space Storage (EXR) opened at $86.60 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.75 and a quick ratio of 0.75. Extra Space Storage has a 52 week low of $71.34 and a 52 week high of $88.56. The company has a market capitalization of $10,940.00, a PE ratio of 20.53, a price-to-earnings-growth ratio of 3.38 and a beta of 0.39.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Extra Space Storage had a return on equity of 14.41% and a net margin of 33.21%. The firm had revenue of $284.16 million for the quarter, compared to the consensus estimate of $246.85 million. During the same quarter in the previous year, the company posted $1.02 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. equities research analysts forecast that Extra Space Storage will post 4.34 EPS for the current fiscal year.

Extra Space Storage declared that its board has authorized a stock repurchase program on Monday, November 13th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.78 per share. The ex-dividend date is Thursday, December 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.60%. Extra Space Storage’s dividend payout ratio is presently 114.71%.

In other Extra Space Storage news, SVP Grace Kunde sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $87.65, for a total value of $30,677.50. Following the completion of the transaction, the senior vice president now owns 11,209 shares of the company’s stock, valued at approximately $982,468.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $81.80, for a total value of $106,340.00. Following the completion of the transaction, the executive vice president now directly owns 83,675 shares of the company’s stock, valued at approximately $6,844,615. The disclosure for this sale can be found here. Insiders have sold a total of 62,950 shares of company stock valued at $5,174,733 in the last three months. 3.72% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of EXR. Retirement Systems of Alabama raised its holdings in Extra Space Storage by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 61,049 shares of the real estate investment trust’s stock valued at $4,762,000 after acquiring an additional 184 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in Extra Space Storage by 1.2% in the 2nd quarter. Pictet Asset Management Ltd. now owns 66,200 shares of the real estate investment trust’s stock valued at $5,129,000 after acquiring an additional 800 shares in the last quarter. Global X Management Co. LLC raised its holdings in Extra Space Storage by 15.6% in the 2nd quarter. Global X Management Co. LLC now owns 3,272 shares of the real estate investment trust’s stock valued at $255,000 after acquiring an additional 442 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Extra Space Storage by 10.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,263,858 shares of the real estate investment trust’s stock valued at $98,581,000 after acquiring an additional 115,731 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Extra Space Storage by 1.2% in the 2nd quarter. Rhumbline Advisers now owns 283,918 shares of the real estate investment trust’s stock valued at $22,146,000 after acquiring an additional 3,234 shares in the last quarter.

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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.

Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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