Extra Space Storage, Inc. (NYSE:EXR) – Analysts at Jefferies Group issued their FY2020 earnings estimates for Extra Space Storage in a report released on Monday. Jefferies Group analyst G. Hoglund expects that the real estate investment trust will earn $5.11 per share for the year. Jefferies Group currently has a “Hold” rating and a $92.00 target price on the stock.
Several other analysts have also recently issued reports on EXR. Cantor Fitzgerald set a $86.00 price target on shares of Extra Space Storage and gave the company a “hold” rating in a report on Thursday. Zacks Investment Research raised shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Tuesday. Wells Fargo & Co set a $93.00 price target on shares of Extra Space Storage and gave the company a “buy” rating in a report on Thursday, November 30th. Robert W. Baird reaffirmed a “buy” rating and issued a $92.00 price target on shares of Extra Space Storage in a report on Wednesday, November 29th. Finally, BMO Capital Markets set a $78.00 price target on shares of Extra Space Storage and gave the company a “hold” rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $86.92.
Several large investors have recently modified their holdings of the business. Fieldpoint Private Securities LLC bought a new position in shares of Extra Space Storage during the third quarter worth about $103,000. Janney Montgomery Scott LLC bought a new position in shares of Extra Space Storage during the third quarter worth about $200,000. Conning Inc. bought a new position in shares of Extra Space Storage during the fourth quarter worth about $202,000. Mackenzie Financial Corp bought a new position in shares of Extra Space Storage during the third quarter worth about $237,000. Finally, Commonwealth Equity Services Inc bought a new position in shares of Extra Space Storage during the third quarter worth about $245,000.
In other Extra Space Storage news, EVP James Overturf sold 1,300 shares of the stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $86.26, for a total transaction of $112,138.00. Following the sale, the executive vice president now directly owns 81,075 shares of the company’s stock, valued at $6,993,529.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth M. Woolley sold 46,779 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $86.82, for a total transaction of $4,061,352.78. The disclosure for this sale can be found here. Insiders have sold 53,470 shares of company stock worth $4,632,976 over the last three months. 3.72% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.54%. Extra Space Storage’s dividend payout ratio (DPR) is 82.98%.
Extra Space Storage declared that its board has approved a stock repurchase program on Monday, November 13th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Extra Space Storage Company Profile
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.
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