Brokerages predict that Extra Space Storage, Inc. (NYSE:EXR) will report $302.79 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Extra Space Storage’s earnings. The highest sales estimate is $309.51 million and the lowest is $293.41 million. Extra Space Storage posted sales of $281.84 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.4%. The firm is expected to issue its next earnings report on Tuesday, February 19th.
On average, analysts expect that Extra Space Storage will report full-year sales of $1.18 billion for the current financial year, with estimates ranging from $1.14 billion to $1.20 billion. For the next year, analysts expect that the business will post sales of $1.26 billion, with estimates ranging from $1.22 billion to $1.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Extra Space Storage.
Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.17). The firm had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $266.81 million. Extra Space Storage had a net margin of 47.29% and a return on equity of 20.11%. Extra Space Storage’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 earnings per share.
Shares of EXR stock traded down $1.17 on Friday, hitting $94.24. The stock had a trading volume of 525,341 shares, compared to its average volume of 1,102,441. The company has a market capitalization of $12.01 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 3.74 and a beta of 0.07. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.72. Extra Space Storage has a 52-week low of $77.53 and a 52-week high of $101.96.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be issued a $0.86 dividend. The ex-dividend date is Thursday, December 13th. This represents a $3.44 annualized dividend and a yield of 3.65%. Extra Space Storage’s dividend payout ratio is presently 78.54%.
In related news, EVP James Overturf sold 880 shares of the company’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $86.24, for a total value of $75,891.20. Following the sale, the executive vice president now directly owns 72,097 shares of the company’s stock, valued at $6,217,645.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.52% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of EXR. Xact Kapitalforvaltning AB raised its holdings in shares of Extra Space Storage by 8.3% during the second quarter. Xact Kapitalforvaltning AB now owns 28,223 shares of the real estate investment trust’s stock worth $2,817,000 after purchasing an additional 2,169 shares during the period. Bank of Montreal Can raised its holdings in shares of Extra Space Storage by 335.3% during the second quarter. Bank of Montreal Can now owns 334,660 shares of the real estate investment trust’s stock worth $33,404,000 after purchasing an additional 257,785 shares during the period. Amalgamated Bank raised its holdings in shares of Extra Space Storage by 6.7% during the second quarter. Amalgamated Bank now owns 18,628 shares of the real estate investment trust’s stock worth $1,859,000 after purchasing an additional 1,173 shares during the period. Confluence Wealth Management LLC raised its holdings in shares of Extra Space Storage by 16.1% during the second quarter. Confluence Wealth Management LLC now owns 8,930 shares of the real estate investment trust’s stock worth $891,000 after purchasing an additional 1,240 shares during the period. Finally, USS Investment Management Ltd acquired a new stake in shares of Extra Space Storage during the second quarter worth $31,061,000.
Extra Space Storage Company Profile
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 June 30, 2018, the Company owned and/or operated 1,568 self-storage stores in 39 states, Washington, DC and Puerto Rico. The Company's stores comprise approximately 1,090,000 units and approximately 119 million square feet of rentable space.
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