Wall Street analysts predict that Extra Space Storage Inc. (NYSE:EXR – Get Rating) will report $1.98 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Extra Space Storage’s earnings, with estimates ranging from $1.90 to $2.07. Extra Space Storage reported earnings per share of $1.64 in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.7%. The company is expected to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Extra Space Storage will report full year earnings of $7.98 per share for the current fiscal year, with EPS estimates ranging from $7.70 to $8.37. For the next financial year, analysts anticipate that the firm will post earnings of $8.49 per share, with EPS estimates ranging from $8.13 to $9.16. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Extra Space Storage.
Extra Space Storage (NYSE:EXR – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.35). Extra Space Storage had a net margin of 50.76% and a return on equity of 23.42%. The company had revenue of $379.81 million for the quarter, compared to analyst estimates of $368.88 million. During the same period in the prior year, the company earned $1.50 EPS. The company’s revenue was up 25.1% compared to the same quarter last year.
Shares of NYSE EXR traded up $4.24 on Friday, reaching $178.96. 567,892 shares of the company traded hands, compared to its average volume of 822,931. The company has a 50 day moving average of $199.45 and a 200 day moving average of $201.58. The stock has a market capitalization of $24.03 billion, a PE ratio of 29.05, a P/E/G ratio of 2.88 and a beta of 0.45. Extra Space Storage has a fifty-two week low of $142.51 and a fifty-two week high of $228.84. The company has a current ratio of 0.53, a quick ratio of 0.54 and a debt-to-equity ratio of 1.55.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were issued a $1.50 dividend. This is an increase from Extra Space Storage’s previous quarterly dividend of $1.25. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, March 14th. Extra Space Storage’s payout ratio is presently 97.40%.
In other news, Director Kenneth M. Woolley acquired 10,500 shares of Extra Space Storage stock in a transaction that occurred on Monday, March 7th. The stock was purchased at an average price of $200.75 per share, with a total value of $2,107,875.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 5,000 shares of Extra Space Storage stock in a transaction on Friday, April 1st. The shares were sold at an average price of $208.34, for a total value of $1,041,700.00. Following the sale, the chief executive officer now directly owns 62,035 shares of the company’s stock, valued at approximately $12,924,371.90. The disclosure for this sale can be found here. Insiders have sold 11,625 shares of company stock worth $2,314,085 in the last 90 days. 1.52% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of Extra Space Storage by 183.3% in the first quarter. Renaissance Technologies LLC now owns 385,000 shares of the real estate investment trust’s stock worth $79,156,000 after purchasing an additional 249,100 shares during the period. ING Groep NV increased its stake in Extra Space Storage by 21.6% during the first quarter. ING Groep NV now owns 21,243 shares of the real estate investment trust’s stock valued at $4,368,000 after acquiring an additional 3,767 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Extra Space Storage by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,312,164 shares of the real estate investment trust’s stock valued at $269,781,000 after acquiring an additional 31,987 shares during the period. Edgestream Partners L.P. increased its stake in Extra Space Storage by 14.2% during the first quarter. Edgestream Partners L.P. now owns 13,343 shares of the real estate investment trust’s stock valued at $2,743,000 after acquiring an additional 1,662 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Extra Space Storage by 5.7% in the 1st quarter. Lazard Asset Management LLC now owns 57,688 shares of the real estate investment trust’s stock valued at $11,860,000 after purchasing an additional 3,131 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.
Extra Space Storage Company Profile (Get Rating)
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 September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.
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