Extra Space Storage, Inc. (NYSE:EXR) shares reached a new 52-week high and low during trading on Tuesday . The company traded as low as $89.12 and last traded at $88.55, with a volume of 420418 shares traded. The stock had previously closed at $87.35.
A number of research firms have commented on EXR. SunTrust Banks restated a “hold” rating and set a $88.00 price target on shares of Extra Space Storage in a research note on Friday. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Tuesday, March 6th. Cantor Fitzgerald set a $86.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a research report on Thursday, March 8th. Jefferies Group set a $92.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a research report on Tuesday, March 6th. Finally, BMO Capital Markets set a $78.00 price objective on Extra Space Storage and gave the stock a “hold” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $87.00.
The firm has a market cap of $10,975.35, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 3.31 and a beta of 0.21. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.93 and a quick ratio of 0.93.
Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 EPS for the quarter, beating the consensus estimate of $1.08 by $0.55. The firm had revenue of $281.84 million for the quarter, compared to analyst estimates of $283.74 million. Extra Space Storage had a return on equity of 18.87% and a net margin of 44.67%. analysts anticipate that Extra Space Storage, Inc. will post 4.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.50%. The ex-dividend date was Wednesday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is presently 71.23%.
In related news, Director Diane Olmstead sold 1,436 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.04, for a total value of $124,989.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Overturf sold 880 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $81.62, for a total value of $71,825.60. Following the completion of the transaction, the executive vice president now directly owns 82,577 shares in the company, valued at approximately $6,739,934.74. The disclosure for this sale can be found here. Insiders sold 62,300 shares of company stock worth $5,388,931 in the last three months. 3.52% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EXR. Bank of New York Mellon Corp boosted its stake in Extra Space Storage by 59.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,209,113 shares of the real estate investment trust’s stock valued at $193,186,000 after acquiring an additional 823,278 shares in the last quarter. APG Asset Management N.V. boosted its stake in Extra Space Storage by 65.4% in the fourth quarter. APG Asset Management N.V. now owns 1,712,948 shares of the real estate investment trust’s stock valued at $124,748,000 after acquiring an additional 677,392 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Extra Space Storage by 92.0% during the fourth quarter. American Century Companies Inc. now owns 562,732 shares of the real estate investment trust’s stock worth $49,211,000 after buying an additional 269,603 shares during the period. BlackRock Inc. boosted its stake in shares of Extra Space Storage by 2.1% during the fourth quarter. BlackRock Inc. now owns 12,555,071 shares of the real estate investment trust’s stock worth $1,097,941,000 after buying an additional 254,959 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Extra Space Storage during the fourth quarter worth about $12,757,000.
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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.
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