Royal Bank Of Canada Raises Extra Space Storage Inc (EXR) Price Target to $84.00
Extra Space Storage Inc (NYSE:EXR) had its price objective boosted by equities research analysts at Royal Bank Of Canada from $79.00 to $84.00 in a report released on Tuesday. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price objective indicates a potential downside of 3.30% from the company’s current price.
EXR has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed a “hold” rating and set a $77.00 target price on shares of Extra Space Storage in a report on Friday, September 1st. 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 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 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. Finally, BidaskClub lowered Extra Space Storage from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $83.44.
Extra Space Storage (NYSE EXR) opened at $86.87 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $10,836.67, a PE ratio of 20.09, a price-to-earnings-growth ratio of 3.50 and a beta of 0.38. Extra Space Storage has a twelve month low of $68.09 and a twelve month high of $87.31.
Extra Space Storage (NYSE:EXR) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. The business had revenue of $284.16 million during the quarter, compared to analyst estimates of $246.85 million. Extra Space Storage had a return on equity of 14.41% and a net margin of 33.21%. The company’s quarterly 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. equities research analysts expect that Extra Space Storage will post 4.33 earnings per share for the current fiscal year.
In related news, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $75.50, for a total value of $98,150.00. Following the completion of the sale, the executive vice president now owns 86,275 shares in the company, valued at approximately $6,513,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $78.12, for a total value of $1,562,400.00. Following the completion of the sale, the director now owns 665,748 shares of the company’s stock, valued at approximately $52,008,233.76. The disclosure for this sale can be found here. Insiders have sold 63,900 shares of company stock valued at $5,089,327 in the last three months. 3.72% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in EXR. Tudor Investment Corp ET AL bought a new stake in Extra Space Storage in the 1st quarter worth approximately $245,000. HighTower Advisors LLC lifted its position in Extra Space Storage by 6.4% in the first quarter. HighTower Advisors LLC now owns 3,906 shares of the real estate investment trust’s stock valued at $288,000 after purchasing an additional 235 shares during the last quarter. Atria Investments LLC bought a new stake in Extra Space Storage in the second quarter valued at approximately $213,000. Bank of Montreal Can lifted its position in Extra Space Storage by 118.1% in the second quarter. Bank of Montreal Can now owns 188,069 shares of the real estate investment trust’s stock valued at $14,668,000 after purchasing an additional 101,839 shares during the last quarter. Finally, Creative Planning lifted its position in Extra Space Storage by 1.1% in the second quarter. Creative Planning now owns 5,912 shares of the real estate investment trust’s stock valued at $461,000 after purchasing an additional 62 shares during the last quarter.
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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