News coverage about Extra Space Storage (NYSE:EXR) has been trending somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Extra Space Storage earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 45.9306196129833 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
A number of equities analysts have issued reports on the company. Wells Fargo & Co set a $93.00 price target on Extra Space Storage and gave the company a “buy” rating in a research note on Thursday, November 30th. Jefferies Group reiterated a “hold” rating and set a $80.00 price target on shares of Extra Space Storage in a research note on Tuesday, October 24th. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Monday, November 27th. Cantor Fitzgerald reiterated a “hold” rating and set a $77.00 price target on shares of Extra Space Storage in a research note on Wednesday, November 1st. Finally, Robert W. Baird restated a “buy” rating and issued a $92.00 target price on shares of Extra Space Storage in a research note on Wednesday, November 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $86.42.
Shares of Extra Space Storage (EXR) traded down $0.11 during midday trading on Friday, hitting $82.25. The stock had a trading volume of 838,300 shares, compared to its average volume of 929,550. Extra Space Storage has a 12-month low of $71.34 and a 12-month high of $88.56. The stock has a market cap of $10,340.00, a P/E ratio of 30.24, a PEG ratio of 3.15 and a beta of 0.39. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.75 and a quick ratio of 0.75.
Extra Space Storage (NYSE:EXR) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. Extra Space Storage had a return on equity of 16.92% and a net margin of 35.57%. The firm had revenue of $284.16 million for the quarter, compared to the consensus estimate of $246.85 million. During the same quarter in the previous year, the business earned $1.02 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. research analysts expect that Extra Space Storage will post 4.35 earnings per share for the current fiscal year.
Extra Space Storage declared that its board has approved a stock repurchase plan on Monday, November 13th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $3.12 annualized dividend and a yield of 3.79%. Extra Space Storage’s payout ratio is 114.71%.
In related news, Director Spencer Kirk sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $81.38, for a total value of $1,627,600.00. Following the transaction, the director now owns 665,748 shares in the company, valued at $54,178,572.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Grace Kunde sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $87.65, for a total value of $30,677.50. Following the completion of the transaction, the senior vice president now owns 11,209 shares in the company, valued at approximately $982,468.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,250 shares of company stock worth $3,694,071. 3.72% of the stock is owned by company insiders.
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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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