FY2017 EPS Estimates for Extra Space Storage, Inc. Cut by Cantor Fitzgerald (EXR)

Extra Space Storage, Inc. (NYSE:EXR) – Research analysts at Cantor Fitzgerald decreased their FY2017 EPS estimates for Extra Space Storage in a research note issued on Tuesday, Zacks Investment Research reports. Cantor Fitzgerald analyst G. Mehta now anticipates that the real estate investment trust will post earnings per share of $4.18 for the year, down from their previous estimate of $4.22. Cantor Fitzgerald currently has a “Neutral” rating and a $76.00 price objective on the stock.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, February 21st. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.48. The company earned $229 million during the quarter, compared to analyst estimates of $227.18 million. Extra Space Storage had a net margin of 30.57% and a return on equity of 14.98%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. ILLEGAL ACTIVITY NOTICE: This report was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://sportsperspectives.com/2017/04/21/fy2017-eps-estimates-for-extra-space-storage-inc-reduced-by-cantor-fitzgerald-exr-updated-updated.html.

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

EXR has been the subject of a number of other research reports. Royal Bank of Canada cut shares of Extra Space Storage from an “outperform” rating to a “sector perform” rating and set a $79.00 target price for the company. in a research note on Tuesday, January 3rd. Zacks Investment Research lowered shares of Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Tuesday, March 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $80.00 price target on shares of Extra Space Storage in a research report on Monday, April 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $80.00 price target on shares of Extra Space Storage in a research report on Wednesday, March 22nd. Finally, Evercore ISI lowered shares of Extra Space Storage from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $87.56.

Extra Space Storage (NYSE:EXR) traded down 0.19% during midday trading on Thursday, hitting $80.47. 1,140,072 shares of the company traded hands. The stock’s 50-day moving average is $76.81 and its 200-day moving average is $74.91. The firm has a market capitalization of $10.11 billion, a PE ratio of 27.68 and a beta of 0.41. Extra Space Storage has a 12-month low of $68.09 and a 12-month high of $94.81.

Several hedge funds have recently added to or reduced their stakes in EXR. FMR LLC increased its position in Extra Space Storage by 5.2% in the fourth quarter. FMR LLC now owns 14,309,328 shares of the real estate investment trust’s stock valued at $1,105,253,000 after buying an additional 713,606 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Extra Space Storage by 3.0% in the third quarter. Daiwa Securities Group Inc. now owns 4,226,251 shares of the real estate investment trust’s stock valued at $335,606,000 after buying an additional 122,583 shares during the last quarter. BlackRock Fund Advisors increased its position in Extra Space Storage by 3.8% in the third quarter. BlackRock Fund Advisors now owns 4,186,619 shares of the real estate investment trust’s stock valued at $332,459,000 after buying an additional 153,654 shares during the last quarter. Shinko Asset Management Co. Ltd. increased its position in Extra Space Storage by 169.3% in the third quarter. Shinko Asset Management Co. Ltd. now owns 2,834,168 shares of the real estate investment trust’s stock valued at $225,061,000 after buying an additional 1,781,763 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Extra Space Storage by 5.9% in the third quarter. Principal Financial Group Inc. now owns 2,666,891 shares of the real estate investment trust’s stock valued at $211,777,000 after buying an additional 148,930 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.

In related news, Director Spencer Kirk sold 20,000 shares of Extra Space Storage stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $75.15, for a total transaction of $1,503,000.00. Following the sale, the director now directly owns 664,430 shares in the company, valued at approximately $49,931,914.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO James Overturf sold 600 shares of Extra Space Storage stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $73.73, for a total transaction of $44,238.00. Following the sale, the chief marketing officer now owns 91,457 shares in the company, valued at $6,743,124.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,200 shares of company stock worth $4,771,541. 4.13% of the stock is owned by corporate insiders.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were given a dividend of $0.78 per share. The ex-dividend date was Monday, March 13th. This represents a $3.12 annualized dividend and a yield of 3.88%. Extra Space Storage’s dividend payout ratio is presently 134.48%.

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.

5 Day Chart for NYSE:EXR

Get a free copy of the Zacks research report on Extra Space Storage (EXR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Extra Space Storage Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extra Space Storage Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply