Brokers Issue Forecasts for Extra Space Storage, Inc.’s Q1 2019 Earnings (EXR)
Extra Space Storage, Inc. (NYSE:EXR) – Equities researchers at SunTrust Banks issued their Q1 2019 earnings estimates for Extra Space Storage in a research report issued on Monday, March 18th. SunTrust Banks analyst K. Kim expects that the real estate investment trust will earn $1.13 per share for the quarter. SunTrust Banks also issued estimates for Extra Space Storage’s Q2 2019 earnings at $1.18 EPS, Q3 2019 earnings at $1.23 EPS and Q4 2019 earnings at $1.24 EPS.
Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.02. The business had revenue of $266.60 million during the quarter, compared to analysts’ expectations of $265.39 million. Extra Space Storage had a net margin of 37.36% and a return on equity of 16.40%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS.
Extra Space Storage stock opened at $99.27 on Thursday. The firm has a market cap of $12.59 billion, a PE ratio of 21.26, a PEG ratio of 4.52 and a beta of 0.29. Extra Space Storage has a 12-month low of $82.80 and a 12-month high of $101.96. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.72 and a quick ratio of 0.72.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.44 dividend on an annualized basis and a yield of 3.47%. Extra Space Storage’s dividend payout ratio is presently 73.66%.
In other Extra Space Storage news, CFO P Scott Stubbs sold 15,600 shares of Extra Space Storage stock in a transaction on Monday, March 11th. The shares were sold at an average price of $98.58, for a total value of $1,537,848.00. Following the transaction, the chief financial officer now directly owns 160,612 shares in the company, valued at $15,833,130.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Overturf sold 880 shares of Extra Space Storage stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $99.12, for a total transaction of $87,225.60. Following the completion of the transaction, the executive vice president now owns 68,577 shares in the company, valued at $6,797,352.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,874 shares of company stock worth $12,139,229. 3.52% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group increased its stake in shares of Extra Space Storage by 22.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 566 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 104 shares during the period. Atlas Capital Advisors LLC acquired a new position in shares of Extra Space Storage during the third quarter worth about $125,000. ING Groep NV acquired a new position in shares of Extra Space Storage during the third quarter worth about $208,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Extra Space Storage during the fourth quarter worth about $226,000. Finally, Matthew Goff Investment Advisor LLC acquired a new position in shares of Extra Space Storage during the third quarter worth about $242,000. Institutional investors own 97.65% of the company’s stock.
Extra Space Storage Company Profile
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 December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.
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