Extra Space Storage was the first company that the financial analysts at StockNews.com covered in a report published on Thursday and made available for public consumption (NYSE: EXR).
The brokerage firm gave the shares of the real estate investment trust a “hold” rating, indicating that they should be kept in one’s portfolio.
On February 22, shareholders of Extra Space Storage (NYSE: EXR) were given access to the company’s most recent quarterly earnings report.
The real estate investment trust (REIT) reported $1.52 for the quarter, which was $0.56 less than the consensus projection of $2.08.
The company brought in $506.70 million in sales during the quarter, significantly higher than the $433.39 million that market watchers anticipated it would bring in.
The return on equity and the net margin for Extra Space Storage was 22.01% and 45.52%, respectively. Compared to the same quarter from the previous year, the revenue for this quarter showed an increase of 18.4%.
The corporation generated earnings of $1.91 per share during the same period the year before when compared to the current year.
Extra Space Storage anticipates that the current fiscal year will result in earnings of $8.56 per share for the company’s shareholders.
On Thursday, trading began on the NYSE under the symbol EXR for $157.58.
The current price of Extra Space Storage is $139.97, which is the 52-week low.
The current price of Extra Space Storage is $222.35, which is the 52-week high.
The stock has a price-to-earnings ratio of 24.58, a price-to-earnings-to-growth ratio of 2.24, and a beta value of 0.54.
These ratios measure how closely the stock’s price tracks its earnings growth.
The current, quick, and debt-to-equity ratios all come in at the same value of 0.54, while the debt-to-equity ratio is 1.80.
The simple moving average for the last 50 days of the company’s stock price is $157.86, and the simple moving average for the last 200 days is $163.72.
There have also been reports on EXR published by various research companies in their respective fields. Citigroup decreased its price target on Extra Space Storage shares from $175.00 to $170.00 and gave the company a “neutral” rating in a research report published on Monday, December 12. KeyCorp lowered their price objective for Extra Space Storage’s stock from $220.00 to $190.00 and downgraded the stock from an “overweight” rating to a “neutral” rating in a research note published on November 30.
Truist Financial increased their price target for Extra Space Storage from $160.00 to $165.00 and upgraded the company’s recommendation from “hold” to “buy” in a research note published on March 8. Raymond James assigned an “outperform” rating to shares of Extra Space Storage in a research report published on Monday, January 9, and they projected that the stock’s price would reach $170.00 over the next three months. Finally, Evercore ISI lowered their price target for Extra Space Storage from $162.00 to $150.00 and changed their rating for the company from “in line” to “underperform” in a published research note on November 21.
Two investment gurus recommend selling the stock, six analysts recommend holding onto it, and three financial analysts recommend buying it.
According to the information made available by Bloomberg, the company has been given an average rating of “Hold,” and the general consensus target price is currently $170.89.
On March 8, the Chief Operating Officer of the company, Matthew T. Herrington, sold 650 shares of the company’s stock. Other items related to this topic include the following: On the open market, the shares were sold for $107,737.50, equivalent to $165.75 per share. Following the completion of the transaction, the chief operating officer has a total of 6,405 shares in the company, which have an estimated value of $1,061,628.75 at present.
A legal document that was handed into the SEC and that has since been made available online has been used to inform the general public about the sale.
In other news about this topic, Chief Operating Officer Matthew T. Herrington sold 650 shares of the company’s stock on March 8.
The shares were sold on the open market for $107,737.50, equivalent to $165.75 per share.
The market determined the price. Following the completion of the transaction, the chief operating officer has a total of 6,405 shares in the company, which have an estimated value of $1,061,628.75 at present.
A legal document that was handed into the SEC and that has since been made available online has been used to inform the general public about the sale.
Additionally, Chief Marketing Officer Samrat Sondhi sold 6,290 shares of the company’s stock on Monday, February 27.
During the sale, each share was purchased for an average price of $161.88, resulting in a total transaction value of $1,018,225.20. Following the completion of the transaction, the chief marketing officer has 82,653 shares in the company, which are currently valued at a sum equal to or greater than $13,379,867.64.
Disclosures related to the sale might be found in this website section.
Insiders sold 8,440 shares of company stock during the most recent quarter for a total price of $1,371,963, which was the total amount received. 1.52 company insiders own a percent of the total shares currently outstanding.
Recent transactions involving the stock include purchases and sales of shares by institutional investors and hedge funds.
During the third quarter, Massachusetts Financial Services Co, MA, saw a 0.3% rise in the value of its holdings in Extra Space Storage.
Massachusetts Financial Services Co, MA, owns Extra Space Storage.
After purchasing an additional 10,610 shares of the real estate investment trust during the period, Massachusetts Financial Services Co, MA, now has 3,648,605 shares of the investment above vehicle.
The value of these shares on the market currently is $630,149.
During the last three months of 2018, Geode Capital Management LLC made a 1.2% purchase of additional Extra Space Storage shares, bringing the total number of shares it owned to 88.4%.
After making an additional purchase of 38,582 shares during the most recent time frame, Geode Capital Management LLC now possesses a total of 3,135,848 shares of the real estate investment trust, currently valued at $460,800,000.
During the second quarter, FMR LLC raised the proportion of ownership in Extra Space Storage by 4.3%.
After purchasing an additional 107,178 shares during that period, FMR LLC now has 2,608,764 of the REIT’s shares, worth a combined total of $443,803,000.
During the last three months of 2018, Norges Bank increased its ownership in Extra Space Storage, bringing its total investment to approximately $380,823,000.
Last but certainly not least, Pictet Asset Management SA increased the value of its investment in Extra Space Storage by 7.5% during the third quarter.
Pictet Asset Management SA now owns 2,084,840 real estate investment trust shares, valued at $359,005,000.
This results from the company acquiring 145,688 additional shares throughout the period.
Institutional investors and hedge funds currently own 95.32 percent of the company’s stock between them.