Extra Space Storage Inc (EXR) Price Target Increased to $81.00 by Analysts at Cantor Fitzgerald
Extra Space Storage Inc (NYSE:EXR) had its price target raised by Cantor Fitzgerald from $77.00 to $81.00 in a research note released on Thursday. They currently have a neutral rating on the real estate investment trust’s stock.
“Cantor Estimates. We are raising our ’17 and ’18 core FFO/sh. estimates to $4.34 and $4.52 from $4.31 and $4.51, respectively. Our ’17 and ’18 FFO/sh. estimates are unchanged at $4.27 and $4.48. Our NAV/sh. estimate is $76.90 from $73.60. Our 2017 and 2018 SSNOI estimates are 6.2% and 3.7% from 5.5% and 3.0% prior. EXR ’17 SS revenue growth outlook is 4.75%, SS expense guidance +1.5%, leading to SSNOI growth guidance of 6.1% MP.”,” the firm’s analyst commented.
EXR has been the subject of a number of other research reports. Evercore ISI reaffirmed an in-line rating and set a $80.00 target price (up previously from $78.00) on shares of Extra Space Storage in a report on Thursday, September 14th. BMO Capital Markets initiated coverage on shares of Extra Space Storage in a report on Monday, September 11th. They set a market perform rating and a $78.00 target price for the company. Zacks Investment Research raised shares of Extra Space Storage from a hold rating to a buy rating and set a $90.00 target price for the company in a report on Wednesday, October 11th. BidaskClub lowered shares of Extra Space Storage from a buy rating to a hold rating in a report on Sunday, July 30th. Finally, KeyCorp reaffirmed a hold rating on shares of Extra Space Storage in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Extra Space Storage presently has an average rating of Hold and an average price target of $83.00.
Shares of Extra Space Storage (NYSE:EXR) traded up $0.55 during midday trading on Thursday, reaching $86.00. 647,868 shares of the company traded hands, compared to its average volume of 1,011,519. The stock has a market cap of $10,830.00, a price-to-earnings ratio of 20.10, a PEG ratio of 3.50 and a beta of 0.38. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.57 and a current ratio of 0.75. Extra Space Storage has a 12 month low of $68.09 and a 12 month high of $87.31.
Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 EPS for the quarter, topping the consensus estimate of $1.10 by $0.03. The company had revenue of $284.16 million during the quarter, compared to analyst estimates of $246.85 million. Extra Space Storage had a net margin of 33.21% and a return on equity of 14.41%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 EPS. research analysts predict that Extra Space Storage will post 4.33 EPS for the current fiscal year.
In other news, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $79.64, for a total transaction of $1,592,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $75.50, for a total transaction of $98,150.00. Following the transaction, the executive vice president now directly owns 86,275 shares in the company, valued at approximately $6,513,762.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,900 shares of company stock worth $5,089,327. Corporate insiders own 3.72% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in shares of Extra Space Storage during the 3rd quarter valued at about $131,000. Atria Investments LLC acquired a new position in shares of Extra Space Storage during the 2nd quarter valued at about $213,000. Federated Investors Inc. PA acquired a new position in shares of Extra Space Storage during the 2nd quarter valued at about $218,000. Donaldson Capital Management LLC acquired a new position in shares of Extra Space Storage during the 2nd quarter valued at about $231,000. Finally, Pacer Advisors Inc. boosted its position in shares of Extra Space Storage by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 3,042 shares of the real estate investment trust’s stock valued at $237,000 after acquiring an additional 232 shares during the last quarter.
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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