$283.36 Million in Sales Expected for Extra Space Storage, Inc. (EXR) This Quarter

Equities analysts predict that Extra Space Storage, Inc. (NYSE:EXR) will post sales of $283.36 million for the current quarter, according to Zacks. Five analysts have made estimates for Extra Space Storage’s earnings, with the highest sales estimate coming in at $291.90 million and the lowest estimate coming in at $271.15 million. Extra Space Storage posted sales of $263.01 million in the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The firm is expected to issue its next earnings report on Wednesday, April 25th.

On average, analysts expect that Extra Space Storage will report full year sales of $283.36 million for the current financial year, with estimates ranging from $1.13 billion to $1.21 billion. For the next year, analysts anticipate that the firm will post sales of $1.25 billion per share, with estimates ranging from $1.19 billion to $1.29 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Extra Space Storage.

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Extra Space Storage (NYSE:EXR) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.55. The company had revenue of $281.84 million during the quarter, compared to analysts’ expectations of $283.74 million. Extra Space Storage had a net margin of 44.67% and a return on equity of 18.87%.

Several research firms recently weighed in on EXR. BMO Capital Markets set a $78.00 target price on shares of Extra Space Storage and gave the company a “hold” rating in a research note on Tuesday, February 20th. Cantor Fitzgerald set a $86.00 target price on shares of Extra Space Storage and gave the company a “hold” rating in a research note on Thursday, March 8th. Morgan Stanley raised shares of Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 target price for the company in a research note on Wednesday, December 13th. Zacks Investment Research raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Tuesday, March 6th. Finally, Jefferies Group set a $92.00 price objective on shares of Extra Space Storage and gave the company a “hold” rating in a research report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Extra Space Storage currently has an average rating of “Hold” and an average price target of $86.92.

In other Extra Space Storage news, VP P Scott Stubbs sold 9,250 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $85.73, for a total transaction of $793,002.50. Following the completion of the transaction, the vice president now owns 144,973 shares in the company, valued at $12,428,535.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Overturf sold 880 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $81.62, for a total transaction of $71,825.60. Following the transaction, the executive vice president now owns 82,577 shares of the company’s stock, valued at approximately $6,739,934.74. The disclosure for this sale can be found here. Insiders have sold 62,300 shares of company stock valued at $5,388,931 in the last quarter. 3.72% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in EXR. JPMorgan Chase & Co. lifted its holdings in shares of Extra Space Storage by 65.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,178,691 shares of the real estate investment trust’s stock worth $172,290,000 after acquiring an additional 859,212 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Extra Space Storage by 59.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,209,113 shares of the real estate investment trust’s stock valued at $193,186,000 after buying an additional 823,278 shares in the last quarter. APG Asset Management N.V. lifted its holdings in Extra Space Storage by 65.4% during the 4th quarter. APG Asset Management N.V. now owns 1,712,948 shares of the real estate investment trust’s stock valued at $124,748,000 after buying an additional 677,392 shares in the last quarter. American Century Companies Inc. lifted its holdings in Extra Space Storage by 92.0% during the 4th quarter. American Century Companies Inc. now owns 562,732 shares of the real estate investment trust’s stock valued at $49,211,000 after buying an additional 269,603 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Extra Space Storage by 2.1% during the 4th quarter. BlackRock Inc. now owns 12,555,071 shares of the real estate investment trust’s stock valued at $1,097,941,000 after buying an additional 254,959 shares in the last quarter.

EXR opened at $87.36 on Friday. The firm has a market cap of $11,010.64, a P/E ratio of 19.99, a P/E/G ratio of 3.32 and a beta of 0.21. Extra Space Storage has a fifty-two week low of $71.34 and a fifty-two week high of $88.56. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.93 and a quick ratio of 0.93.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $3.12 annualized dividend and a yield of 3.57%. Extra Space Storage’s dividend payout ratio (DPR) is currently 71.23%.

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About Extra Space Storage

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

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