Trading Report: The Analysts Set Expectations for Extra Space Storage Inc.’s FY2016 Earnings (EXR)

The Analysts Set Expectations for Extra Space Storage Inc.’s FY2016 Earnings (EXR)

Extra Space Storage Inc. (NYSE:EXR) – Stock analysts at DA Davidson increased their FY2016 earnings per share estimates for Extra Space Storage in a research report issued to clients and investors on Friday. DA Davidson analyst B. Oxford now expects that the brokerage will post earnings per share of $3.81 for the year, up from their prior forecast of $3.73. DA Davidson has a “Neutral” rating and a $95.00 price target on the stock. DA Davidson also issued estimates for Extra Space Storage’s Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $1.11 EPS and FY2018 earnings at $4.49 EPS.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, October 26th. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.03. The business earned $257.20 million during the quarter, compared to the consensus estimate of $218.17 million. Extra Space Storage had a net margin of 30.57% and a return on equity of 14.98%. The company’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 earnings per share.

Several other equities analysts have also commented on the stock. Raymond James Financial Inc. lowered shares of Extra Space Storage from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $95.00 to $106.00 in a research report on Friday, August 12th. Jefferies Group reiterated a “buy” rating on shares of Extra Space Storage in a report on Wednesday, July 6th. SunTrust Banks Inc. downgraded Extra Space Storage from a “buy” rating to a “neutral” rating and lowered their price target for the company from $107.00 to $100.00 in a report on Monday, July 25th. Cantor Fitzgerald reiterated a “hold” rating on shares of Extra Space Storage in a report on Friday, August 26th. Finally, Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Extra Space Storage currently has a consensus rating of “Hold” and a consensus target price of $92.96.

Shares of Extra Space Storage (NYSE:EXR) opened at 72.09 on Monday. The stock’s 50 day moving average is $76.90 and its 200-day moving average is $85.36. Extra Space Storage has a one year low of $70.30 and a one year high of $94.81. The stock has a market capitalization of $9.07 billion, a P/E ratio of 31.15 and a beta of 0.64.

In related news, CEO Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $78.26, for a total value of $1,565,200.00. Following the completion of the transaction, the chief executive officer now directly owns 734,430 shares of the company’s stock, valued at $57,476,491.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.13% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. World Asset Management Inc boosted its position in shares of Extra Space Storage by 1.9% in the third quarter. World Asset Management Inc now owns 15,107 shares of the real estate investment trust’s stock valued at $1,200,000 after buying an additional 276 shares during the period. DnB Asset Management AS bought a new position in shares of Extra Space Storage during the third quarter worth about $834,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Extra Space Storage by 0.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 419,666 shares of the real estate investment trust’s stock worth $33,326,000 after buying an additional 1,690 shares during the last quarter. Chicago Equity Partners LLC boosted its position in shares of Extra Space Storage by 32.8% in the third quarter. Chicago Equity Partners LLC now owns 4,410 shares of the real estate investment trust’s stock worth $350,000 after buying an additional 1,090 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Extra Space Storage by 2.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 39,820 shares of the real estate investment trust’s stock worth $3,162,000 after buying an additional 1,064 shares during the last quarter. 97.87% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Company Profile

Related posts

Leave a Comment