Extra Space Storage, Inc. (NYSE:EXR) – Research analysts at Cantor Fitzgerald issued their FY2018 earnings estimates for Extra Space Storage in a report issued on Sunday. Cantor Fitzgerald analyst G. Mehta expects that the real estate investment trust will post earnings of $4.59 per share for the year. Cantor Fitzgerald has a “Hold” rating and a $86.00 price objective on the stock.
Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 EPS for the quarter, topping the consensus estimate of $1.08 by $0.55. Extra Space Storage had a net margin of 44.67% and a return on equity of 18.87%. The firm had revenue of $281.84 million for the quarter, compared to the consensus estimate of $283.74 million.
Extra Space Storage (NYSE EXR) traded down $0.01 during mid-day trading on Wednesday, hitting $87.12. 24,254 shares of the stock traded hands, compared to its average volume of 1,168,329. Extra Space Storage has a 1 year low of $71.34 and a 1 year high of $88.56. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $11,035.84, a P/E ratio of 23.38, a PEG ratio of 3.33 and a beta of 0.25.
A number of institutional investors and hedge funds have recently made changes to their positions in EXR. JPMorgan Chase & Co. increased its position in Extra Space Storage by 65.1% in the third quarter. JPMorgan Chase & Co. now owns 2,178,691 shares of the real estate investment trust’s stock worth $172,290,000 after purchasing an additional 859,212 shares during the last quarter. Bank of New York Mellon Corp increased its position in Extra Space Storage by 59.4% during 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 during the last quarter. APG Asset Management N.V. increased its position in Extra Space Storage by 65.4% during 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 during the last quarter. Russell Investments Group Ltd. increased its position in Extra Space Storage by 66.1% during the third quarter. Russell Investments Group Ltd. now owns 770,381 shares of the real estate investment trust’s stock valued at $61,558,000 after acquiring an additional 306,650 shares during the last quarter. Finally, American Century Companies Inc. increased its position in 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 valued at $49,211,000 after acquiring an additional 269,603 shares during the last quarter.
In related news, Director Diane Olmstead sold 1,436 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $87.04, for a total value of $124,989.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Overturf sold 880 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $82.88, for a total transaction of $72,934.40. Following the completion of the sale, the executive vice president now owns 79,935 shares in the company, valued at approximately $6,625,012.80. The disclosure for this sale can be found here. Insiders sold 53,470 shares of company stock worth $4,632,976 in the last 90 days. 3.72% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.58%. The ex-dividend date is Wednesday, March 14th. Extra Space Storage’s dividend payout ratio is presently 82.98%.
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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