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.
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%.
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%.
ILLEGAL ACTIVITY NOTICE: “$283.36 Million in Sales Expected for Extra Space Storage, Inc. (EXR) This Quarter” was first published by WKRB News and is the sole property of of WKRB News. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.wkrb13.com/2018/04/02/283-36-million-in-sales-expected-for-extra-space-storage-inc-exr-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.