Extra Space Storage Inc. (NYSE: EXR) given the average recommendation of “Hold” by Analysts

Shares of Extra Space Storage Inc. (NYSE: EXR – Get Rating) has earned an average recommendation of “Hold” from the seventeen research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $ 199.13.

Several equities analysts have weighed in on EXR shares. JPMorgan Chase & Co. raised their price target on Extra Space Storage from $ 220.00 to $ 224.00 and gave the company a “neutral” rating in a report on Monday, April 4th. StockNews.com upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Truist Financial raised their price objective on Extra Space Storage from $ 213.00 to $ 220.00 in a research note on Tuesday, January 18th. Finally, Morgan Stanley lowered their price objective on Extra Space Storage from $ 175.00 to $ 172.00 and set an “underweight” rating for a research note on the company on Wednesday, March 2nd.

NYSE: EXR opened at $ 178.96 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.54 and a debt-to-equity ratio of 1.55. Extra Space Storage has a 12-month low of $ 142.51 and a 12-month high of $ 228.84. The stock has a 50-day moving average price of $ 199.45 and a 200 day moving average price of $ 201.70. The stock has a market capitalization of $ 24.03 billion, a P / E ratio of 29.05, a P / E / G ratio of 2.88 and a beta of 0.45.

Extra Space Storage (NYSE: EXR – Get Rating) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported $ 1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $ 1.86 by ($ 0.35). Extra Space Storage had a return on equity of 23.42% and a net margin of 50.76%. The business had revenue of $ 379.81 million for the quarter, compared to analysts’ expectations of $ 368.88 million. During the same quarter in the prior year, the business posted $ 1.50 EPS. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. On average, research analysts predict that Extra Space Storage will post 8.31 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were given a dividend of $ 1.50 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $ 6.00 dividend on an annualized basis and a yield of 3.35%. This is a boost from Extra Space Storage’s previous quarterly dividend of $ 1.25. Extra Space Storage’s payout ratio is currently 97.40%.

In other news, CEO Joseph D. Margolis sold 5,000 shares of the business’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $ 208.34, for a total value of $ 1,041,700.00. Following the completion of the transaction, the CEO now owns 62,035 shares of the company’s stock, valued at approximately $ 12,924,371.90. The sale was disclosed in a legal filing with the SEC, which is accessible via this link. Also, EVP Gwyn Goodson Mcneal sold 3,125 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $ 192.00, for a total value of $ 600,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,625 shares of company stock valued at $ 2,314,085. 1.52% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zullo Investment Group Inc. acquired a new position in Extra Space Storage in the 4th quarter worth about $ 25,000. Riverview Trust Co purchased a new stake in Extra Space Storage during the 1st quarter worth approximately $ 32,000. Huntington National Bank increased its stake in Extra Space Storage by 35.3% during the 4th quarter. Huntington National Bank now owns 203 shares of the real estate investment trust’s stock worth $ 46,000 after purchasing an additional 53 shares in the last quarter. TAP Consulting LLC purchased a new stake in Extra Space Storage during the 4th quarter worth approximately $ 51,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Extra Space Storage during the 1st quarter worth approximately $ 55,000. 95.44% of the stock is owned by institutional investors.

Extra Space Storage Company Profile (Get Rating)

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, 2020, the company owned and / or operated 1,906 self-storage stores. in 40 states, Washington, DC and Puerto Rico. The Company’s stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.

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Analyst Recommendations for Extra Space Storage (NYSE: EXR)

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