Extra Space Storage Inc. (NYSE:EXR) – Analysts at Jefferies Financial Group upped their Q1 2021 EPS estimates for shares of Extra Space Storage in a research note issued to investors on Wednesday, January 13th. Jefferies Financial Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings per share of $1.40 for the quarter, up from their prior forecast of $1.39. Jefferies Financial Group has a “Buy” rating and a $135.00 price target on the stock. Jefferies Financial Group also issued estimates for Extra Space Storage’s Q2 2021 earnings at $1.41 EPS, Q3 2021 earnings at $1.43 EPS, Q4 2021 earnings at $1.42 EPS, FY2021 earnings at $5.65 EPS, Q1 2022 earnings at $1.44 EPS, Q2 2022 earnings at $1.48 EPS, Q3 2022 earnings at $1.50 EPS, Q4 2022 earnings at $1.48 EPS, FY2022 earnings at $5.90 EPS and FY2023 earnings at $6.14 EPS.

Extra Space Storage (NYSE:EXR) last released its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.36). The business had revenue of $290.42 million for the quarter, compared to analysts’ expectations of $286.55 million. Extra Space Storage had a net margin of 34.54% and a return on equity of 16.54%. The company’s revenue was down .2% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS.

Other equities research analysts have also issued reports about the company. KeyCorp upgraded Extra Space Storage from a “sector weight” rating to an “overweight” rating and set a $124.00 target price for the company in a report on Friday, November 13th. Zacks Investment Research lowered Extra Space Storage from a “buy” rating to a “hold” rating and set a $118.00 target price for the company. in a report on Tuesday. Raymond James upgraded Extra Space Storage from an “underperform” rating to a “market perform” rating in a report on Tuesday, October 6th. Citigroup lowered Extra Space Storage from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $105.00 to $112.00 in a report on Monday, September 21st. Finally, JPMorgan Chase & Co. raised Extra Space Storage from a “neutral” rating to an “overweight” rating and set a $124.00 price target on the stock in a research report on Monday, December 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Extra Space Storage presently has a consensus rating of “Hold” and an average target price of $115.25.

Shares of Extra Space Storage stock opened at $111.86 on Thursday. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 33.19, a P/E/G ratio of 7.12 and a beta of 0.15. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.52 and a quick ratio of 0.52. Extra Space Storage has a 52-week low of $72.70 and a 52-week high of $121.07. The stock has a 50-day simple moving average of $112.48 and a 200-day simple moving average of $108.47.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Monday, December 14th. Extra Space Storage’s dividend payout ratio is currently 73.77%.

In other Extra Space Storage news, CEO Joseph D. Margolis sold 2,500 shares of the stock in a transaction dated Wednesday, December 23rd. The stock was sold at an average price of $115.10, for a total value of $287,750.00. Following the transaction, the chief executive officer now owns 115,300 shares of the company’s stock, valued at $13,271,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William N. Springer sold 812 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $117.30, for a total value of $95,247.60. Following the completion of the transaction, the executive vice president now directly owns 2,722 shares in the company, valued at approximately $319,290.60. The disclosure for this sale can be found here. In the last three months, insiders sold 28,627 shares of company stock worth $3,233,973. Insiders own 2.64% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC bought a new stake in shares of Extra Space Storage in the second quarter worth about $25,000. CWM LLC increased its holdings in shares of Extra Space Storage by 53.3% in the third quarter. CWM LLC now owns 259 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 90 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Extra Space Storage in the third quarter worth about $38,000. Capital Analysts LLC increased its holdings in shares of Extra Space Storage by 84.4% in the third quarter. Capital Analysts LLC now owns 426 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 195 shares in the last quarter. Finally, HM Payson & Co. bought a new position in shares of Extra Space Storage during the third quarter worth about $49,000. Institutional investors own 92.82% 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 September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.

Further Reading: Momentum Investing

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

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