Analysts expect Extra Space Storage, Inc. (NYSE:EXR) to report $1.20 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Extra Space Storage’s earnings. The highest EPS estimate is $1.22 and the lowest is $1.19. Extra Space Storage reported earnings per share of $1.12 in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.1%. The business is scheduled to report its next earnings report on Tuesday, February 19th.
On average, analysts expect that Extra Space Storage will report full year earnings of $4.64 per share for the current fiscal year, with EPS estimates ranging from $4.61 to $4.66. For the next fiscal year, analysts expect that the company will report earnings of $4.87 per share, with EPS estimates ranging from $4.77 to $4.96. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Extra Space Storage.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.17). Extra Space Storage had a net margin of 47.29% and a return on equity of 20.11%. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $266.81 million. During the same period last year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis.
Several research firms have commented on EXR. ValuEngine raised shares of Extra Space Storage from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Citigroup dropped their price objective on shares of Extra Space Storage from $103.00 to $92.00 and set a “hold” rating for the company in a report on Friday, October 5th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $96.40.
In related news, EVP James Overturf sold 880 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $87.19, for a total value of $76,727.20. Following the completion of the transaction, the executive vice president now owns 72,977 shares of the company’s stock, valued at approximately $6,362,864.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 2,640 shares of company stock valued at $234,256. 3.52% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in EXR. First Hawaiian Bank bought a new position in shares of Extra Space Storage in the 3rd quarter valued at about $120,000. Assetmark Inc. lifted its holdings in shares of Extra Space Storage by 7,612.5% in the 2nd quarter. Assetmark Inc. now owns 1,234 shares of the real estate investment trust’s stock valued at $123,000 after acquiring an additional 1,218 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in shares of Extra Space Storage in the 3rd quarter valued at about $125,000. Meeder Asset Management Inc. bought a new position in shares of Extra Space Storage in the 3rd quarter valued at about $137,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Extra Space Storage in the 2nd quarter valued at about $143,000.
EXR opened at $98.70 on Friday. Extra Space Storage has a 52 week low of $77.53 and a 52 week high of $101.96. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 3.81 and a beta of 0.13. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.72.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Thursday, December 13th. Extra Space Storage’s payout ratio is 78.54%.
About Extra Space Storage
Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2018, the Company owned and/or operated 1,606 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.1 million units and approximately 122 million square feet of rentable space.
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