Wall Street analysts expect Extra Space Storage Inc (NYSE:EXR) to announce sales of $278.47 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Extra Space Storage’s earnings. The lowest sales estimate is $269.63 million and the highest is $286.70 million. Extra Space Storage posted sales of $257.18 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.3%. The business is scheduled to report its next earnings report on Wednesday, October 25th.

According to Zacks, analysts expect that Extra Space Storage will report full year sales of $278.47 million for the current financial year, with estimates ranging from $1.05 billion to $1.22 billion. For the next year, analysts forecast that the company will report sales of $1.17 billion per share, with estimates ranging from $1.07 billion to $1.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Extra Space Storage.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. The business had revenue of $276 million during the quarter, compared to the consensus estimate of $239.89 million. Extra Space Storage had a net margin of 36.35% and a return on equity of 15.20%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share.

Several analysts recently weighed in on EXR shares. BidaskClub downgraded Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) upgraded Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price objective for the company in a research report on Monday, May 15th. Cantor Fitzgerald restated a “hold” rating and set a $77.00 price objective on shares of Extra Space Storage in a research report on Sunday, August 20th. KeyCorp restated a “buy” rating and set a $82.00 price objective on shares of Extra Space Storage in a research report on Friday. Finally, Bank of America Corporation downgraded Extra Space Storage from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $83.00 to $81.00 in a research report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $82.25.

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In other Extra Space Storage news, EVP James Overturf sold 1,300 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $74.90, for a total value of $97,370.00. Following the completion of the transaction, the executive vice president now owns 88,875 shares of the company’s stock, valued at approximately $6,656,737.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $79.09, for a total value of $1,581,800.00. Following the completion of the transaction, the director now directly owns 665,748 shares of the company’s stock, valued at approximately $52,654,009.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,900 shares of company stock valued at $4,958,971. Insiders own 3.72% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Extra Space Storage by 0.8% in the second quarter. Vanguard Group Inc. now owns 21,666,355 shares of the real estate investment trust’s stock worth $1,689,976,000 after buying an additional 171,897 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Extra Space Storage by 3.0% in the second quarter. BlackRock Inc. now owns 12,091,401 shares of the real estate investment trust’s stock valued at $943,130,000 after buying an additional 348,554 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Extra Space Storage by 11.2% in the first quarter. Daiwa Securities Group Inc. now owns 5,327,021 shares of the real estate investment trust’s stock valued at $396,278,000 after buying an additional 536,392 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Extra Space Storage by 56.2% in the second quarter. Capital Research Global Investors now owns 5,161,305 shares of the real estate investment trust’s stock valued at $402,582,000 after buying an additional 1,857,594 shares during the last quarter. Finally, Cbre Clarion Securities LLC bought a new stake in shares of Extra Space Storage during the second quarter valued at $304,239,000.

Shares of Extra Space Storage (NYSE:EXR) opened at 76.90 on Monday. The firm has a market cap of $9.69 billion, a P/E ratio of 26.28 and a beta of 0.34. Extra Space Storage has a 12-month low of $68.09 and a 12-month high of $82.82. The company has a 50-day moving average of $77.15 and a 200 day moving average of $76.66.

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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Earnings History and Estimates for Extra Space Storage (NYSE:EXR)

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