Extra Space Storage, Inc. (EXR) Expected to Announce Earnings of $1.08 Per Share
Equities research analysts expect Extra Space Storage, Inc. (NYSE:EXR) to report earnings per share of $1.08 for the current quarter, Zacks reports. Five analysts have made estimates for Extra Space Storage’s earnings, with the highest EPS estimate coming in at $1.10 and the lowest estimate coming in at $1.06. Extra Space Storage posted earnings of $1.03 per share during the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The business is expected to report its next quarterly earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that Extra Space Storage will report full-year earnings of $4.35 per share for the current year, with EPS estimates ranging from $4.33 to $4.35. For the next financial year, analysts forecast that the firm will report earnings of $4.48 per share, with EPS estimates ranging from $4.44 to $4.53. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Extra Space Storage.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Extra Space Storage had a net margin of 33.21% and a return on equity of 14.41%. The firm had revenue of $284.16 million during the quarter, compared to the consensus estimate of $246.85 million. During the same quarter in the previous year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year.
Shares of Extra Space Storage (NYSE:EXR) traded up $0.94 during mid-day trading on Friday, hitting $83.64. 1,011,564 shares of the stock were exchanged, compared to its average volume of 955,915. Extra Space Storage has a 12-month low of $71.34 and a 12-month high of $88.56. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $10,540.00, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 3.13 and a beta of 0.39.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Thursday, December 14th. Extra Space Storage’s dividend payout ratio is currently 114.71%.
Extra Space Storage declared that its Board of Directors has authorized a stock repurchase program on Monday, November 13th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
In other Extra Space Storage news, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $81.38, for a total value of $1,627,600.00. Following the sale, the director now owns 665,748 shares in the company, valued at approximately $54,178,572.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $86.55, for a total transaction of $112,515.00. Following the completion of the sale, the executive vice president now owns 82,375 shares in the company, valued at approximately $7,129,556.25. The disclosure for this sale can be found here. Insiders sold a total of 43,830 shares of company stock valued at $3,660,665 in the last ninety days. 3.72% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in EXR. Fieldpoint Private Securities LLC purchased a new stake in Extra Space Storage in the 3rd quarter worth $103,000. Penserra Capital Management LLC purchased a new stake in Extra Space Storage in the 3rd quarter worth $131,000. Janney Montgomery Scott LLC purchased a new stake in Extra Space Storage in the 3rd quarter worth $200,000. Federated Investors Inc. PA purchased a new stake in Extra Space Storage in the 2nd quarter worth $218,000. Finally, Mackenzie Financial Corp purchased a new stake in Extra Space Storage in the 3rd quarter worth $237,000.
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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.
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