Extra Space Storage (NYSE:EXR) updated its FY 2021
After-Hours earnings guidance on Monday. The company provided earnings per share guidance of 5.85-6.05 for the period. Extra Space Storage also updated its FY21 guidance to $5.85-$6.05 EPS.
A number of brokerages recently commented on EXR. Truist raised shares of Extra Space Storage from a hold rating to a buy rating and set a $125.00 price target for the company in a report on Friday, January 22nd. Morgan Stanley increased their price target on shares of Extra Space Storage from $94.00 to $107.00 and gave the company an underweight rating in a report on Wednesday, December 9th. JPMorgan Chase & Co. raised shares of Extra Space Storage from a neutral rating to an overweight rating and set a $124.00 price target for the company in a report on Monday, December 21st. KeyCorp raised shares of Extra Space Storage from a sector weight rating to an overweight rating and set a $124.00 price target for the company in a report on Friday, November 13th. Finally, Zacks Investment Research downgraded shares of Extra Space Storage from a buy rating to a hold rating and set a $118.00 price target for the company. in a report on Tuesday, January 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $116.00.
Shares of NYSE EXR opened at $120.74 on Tuesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $15.86 billion, a P/E ratio of 35.83, a PEG ratio of 5.80 and a beta of 0.17. Extra Space Storage has a 1 year low of $72.70 and a 1 year high of $121.83. The firm has a 50-day simple moving average of $114.75 and a two-hundred day simple moving average of $112.13.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Sunday, February 21st. The real estate investment trust reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.29. Extra Space Storage had a net margin of 34.54% and a return on equity of 16.54%. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $293.09 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that Extra Space Storage will post 5.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, March 12th. This is an increase from Extra Space Storage’s previous quarterly dividend of $0.90. Extra Space Storage’s payout ratio is currently 73.77%.
In other news, CEO Joseph D. Margolis sold 2,500 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, December 23rd. The shares were sold at an average price of $115.10, for a total transaction of $287,750.00. Following the completion of the sale, the chief executive officer now owns 115,300 shares of the company’s stock, valued at $13,271,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.64% of the company’s stock.
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 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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