Extra Space Storage (EXR) PT Set at $99.00 by Wells Fargo & Co

Wells Fargo & Co set a $99.00 price target on Extra Space Storage (NYSE:EXR) in a research note released on Tuesday. The firm currently has a buy rating on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.

EXR has been the topic of several other reports. Bank of America upgraded Extra Space Storage from a neutral rating to a buy rating and set a $105.00 price target on the stock in a research report on Tuesday, May 8th. SunTrust Banks reiterated a hold rating and set a $88.00 price target on shares of Extra Space Storage in a research report on Friday, April 13th. Zacks Investment Research upgraded Extra Space Storage from a hold rating to a buy rating and set a $97.00 price target on the stock in a research report on Tuesday, March 6th. Cantor Fitzgerald set a $83.00 price objective on Extra Space Storage and gave the stock a hold rating in a research note on Wednesday, February 21st. Finally, BMO Capital Markets set a $84.00 price objective on Extra Space Storage and gave the stock a hold rating in a research note on Tuesday, May 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Extra Space Storage currently has a consensus rating of Hold and a consensus price target of $89.33.

Shares of Extra Space Storage opened at $95.15 on Tuesday, Marketbeat reports. Extra Space Storage has a 1 year low of $73.70 and a 1 year high of $96.18. The firm has a market cap of $11.99 billion, a PE ratio of 21.72, a PEG ratio of 4.00 and a beta of 0.19. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.50 and a current ratio of 0.50.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.55. Extra Space Storage had a return on equity of 18.85% and a net margin of 44.28%. The company had revenue of $281.84 million for the quarter, compared to analysts’ expectations of $283.74 million. research analysts expect that Extra Space Storage will post 4.62 earnings per share for the current year.

In other news, EVP James Overturf sold 880 shares of the firm’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $85.33, for a total transaction of $75,090.40. Following the completion of the sale, the executive vice president now directly owns 81,257 shares of the company’s stock, valued at approximately $6,933,659.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth M. Woolley sold 46,779 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $86.82, for a total value of $4,061,352.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,181 shares of company stock valued at $7,891,771. Corporate insiders own 3.52% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Extra Space Storage by 2.1% in the fourth quarter. BlackRock Inc. now owns 12,555,071 shares of the real estate investment trust’s stock worth $1,097,941,000 after buying an additional 254,959 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Extra Space Storage by 39.2% in the first quarter. Daiwa Securities Group Inc. now owns 3,333,071 shares of the real estate investment trust’s stock worth $291,177,000 after buying an additional 938,851 shares during the period. Deutsche Bank AG boosted its position in shares of Extra Space Storage by 2.5% in the fourth quarter. Deutsche Bank AG now owns 2,923,110 shares of the real estate investment trust’s stock worth $255,617,000 after buying an additional 71,286 shares during the period. Principal Financial Group Inc. boosted its position in shares of Extra Space Storage by 2.4% in the first quarter. Principal Financial Group Inc. now owns 2,847,149 shares of the real estate investment trust’s stock worth $248,727,000 after buying an additional 66,223 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Extra Space Storage by 59.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,209,113 shares of the real estate investment trust’s stock worth $193,186,000 after buying an additional 823,278 shares during the period.

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, 2017, the Company owned and/or operated 1,483 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,020,000 units and approximately 112 million square feet of rentable space.

Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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