Extra Space Storage (NYSE:EXR) Issues FY 2020 After-Hours Earnings Guidance

Extra Space Storage (NYSE:EXR) issued an update on its FY 2020
After-Hours earnings guidance on Tuesday morning. The company provided EPS guidance of 4.99-5.08 for the period.

Extra Space Storage stock traded down $0.03 during trading hours on Tuesday, reaching $115.40. 857,166 shares of the stock were exchanged, compared to its average volume of 776,311. The company has a market cap of $14.95 billion, a P/E ratio of 36.29, a price-to-earnings-growth ratio of 4.65 and a beta of 0.17. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.65. Extra Space Storage has a twelve month low of $91.00 and a twelve month high of $124.46. The stock has a 50 day moving average of $109.78 and a two-hundred day moving average of $112.11.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, March 13th. This represents a $3.60 dividend on an annualized basis and a yield of 3.12%. Extra Space Storage’s payout ratio is 77.09%.

A number of equities research analysts have issued reports on EXR shares. Morgan Stanley reduced their price objective on shares of Extra Space Storage from $105.00 to $94.00 and set an underweight rating on the stock in a research note on Tuesday, December 17th. Wells Fargo & Co reduced their price objective on shares of Extra Space Storage from $130.00 to $117.00 and set an overweight rating on the stock in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. started coverage on shares of Extra Space Storage in a research note on Wednesday, January 22nd. They set a neutral rating and a $115.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $112.81.

In other Extra Space Storage news, insider Byambasaikhan Bayanjargal 5,000,000 shares of Extra Space Storage stock in a transaction that occurred on Monday, November 25th. Also, COO Samrat Sondhi sold 10,144 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $107.33, for a total transaction of $1,088,755.52. Following the completion of the sale, the chief operating officer now owns 76,143 shares in the company, valued at $8,172,428.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,190 shares of company stock worth $1,627,338. 3.29% of the stock is currently owned by corporate insiders.

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 December 31, 2018, the Company owned and/or operated 1,647 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.2 million units and approximately 125.7 million square feet of rentable space.

See Also: Cost of Goods Sold (COGS)

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

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