Brokerages expect Extra Space Storage, Inc. (NYSE:EXR) to post earnings per share (EPS) of $1.24 for the current quarter, Zacks reports. Four analysts have provided estimates for Extra Space Storage’s earnings. The lowest EPS estimate is $1.23 and the highest is $1.25. Extra Space Storage reported earnings of $1.20 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The business is expected to report its next earnings results after the market closes on Tuesday, October 29th.

On average, analysts expect that Extra Space Storage will report full-year earnings of $4.87 per share for the current financial year, with EPS estimates ranging from $4.83 to $4.89. For the next year, analysts anticipate that the business will report earnings of $5.05 per share, with EPS estimates ranging from $4.97 to $5.14. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Extra Space Storage.

A number of brokerages recently commented on EXR. Stifel Nicolaus began coverage on Extra Space Storage in a report on Monday, August 19th. They set a “buy” rating and a $131.00 target price for the company. Zacks Investment Research downgraded Extra Space Storage from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Tuesday, September 10th. Robert W. Baird set a $121.00 target price on Extra Space Storage and gave the company a “hold” rating in a report on Wednesday, August 21st. Wells Fargo & Co upped their target price on Extra Space Storage from $114.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Finally, ValuEngine downgraded Extra Space Storage from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Extra Space Storage has a consensus rating of “Hold” and an average price target of $115.53.

Shares of Extra Space Storage stock traded down $0.16 during midday trading on Wednesday, reaching $116.86. 381,028 shares of the company’s stock traded hands, compared to its average volume of 843,071. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $15.20 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 5.04 and a beta of 0.18. The stock has a 50 day moving average of $118.60 and a 200-day moving average of $110.27. Extra Space Storage has a 12 month low of $84.49 and a 12 month high of $124.46.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.08%. Extra Space Storage’s dividend payout ratio is presently 77.09%.

In other Extra Space Storage news, EVP James Overturf sold 880 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $111.78, for a total value of $98,366.40. Following the completion of the transaction, the executive vice president now owns 66,969 shares in the company, valued at $7,485,794.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joseph D. Margolis sold 2,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $114.44, for a total value of $286,100.00. Following the completion of the transaction, the chief executive officer now owns 108,732 shares of the company’s stock, valued at approximately $12,443,290.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 265,964 shares of company stock valued at $32,234,558. 3.29% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of EXR. Nuveen Asset Management LLC raised its holdings in Extra Space Storage by 2,311.2% in the second quarter. Nuveen Asset Management LLC now owns 1,292,383 shares of the real estate investment trust’s stock worth $137,122,000 after purchasing an additional 1,238,784 shares in the last quarter. Cohen & Steers Inc. raised its holdings in Extra Space Storage by 9.5% in the second quarter. Cohen & Steers Inc. now owns 10,717,434 shares of the real estate investment trust’s stock worth $1,137,120,000 after purchasing an additional 934,146 shares in the last quarter. BlackRock Inc. raised its holdings in Extra Space Storage by 6.1% in the second quarter. BlackRock Inc. now owns 14,115,936 shares of the real estate investment trust’s stock worth $1,497,702,000 after purchasing an additional 813,228 shares in the last quarter. APG Asset Management US Inc. raised its holdings in Extra Space Storage by 61.3% in the second quarter. APG Asset Management US Inc. now owns 2,072,941 shares of the real estate investment trust’s stock worth $219,939,000 after purchasing an additional 787,468 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Extra Space Storage by 10.3% in the second quarter. Daiwa Securities Group Inc. now owns 3,734,660 shares of the real estate investment trust’s stock worth $396,247,000 after purchasing an additional 348,072 shares in the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.

About Extra Space Storage

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.

Read More: What is net income?

Get a free copy of the Zacks research report on Extra Space Storage (EXR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Extra Space Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extra Space Storage and related companies with MarketBeat.com's FREE daily email newsletter.