Equities research analysts expect Extra Space Storage Inc. (NYSE:EXR – Get Rating) to announce earnings of $2.01 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Extra Space Storage’s earnings, with the lowest EPS estimate coming in at $1.95 and the highest estimate coming in at $2.07. Extra Space Storage posted earnings per share of $1.64 in the same quarter last year, which suggests a positive year over year growth rate of 22.6%. The company is scheduled to report its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Extra Space Storage will report full year earnings of $8.11 per share for the current year, with EPS estimates ranging from $7.88 to $8.37. For the next financial year, analysts expect that the company will report earnings of $8.58 per share, with EPS estimates ranging from $8.13 to $9.16. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Extra Space Storage.
Extra Space Storage (NYSE:EXR – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.35). The company had revenue of $379.81 million for the quarter, compared to analyst estimates of $368.88 million. Extra Space Storage had a return on equity of 23.42% and a net margin of 50.76%. The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 earnings per share.
EXR stock traded up $5.36 during midday trading on Friday, reaching $180.03. 612,040 shares of the company were exchanged, compared to its average volume of 737,077. The stock’s 50-day simple moving average is $195.44 and its 200 day simple moving average is $200.08. Extra Space Storage has a 1-year low of $148.29 and a 1-year high of $228.84. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market cap of $24.17 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.68 and a beta of 0.45.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.33%. Extra Space Storage’s dividend payout ratio (DPR) is 97.40%.
In related news, Director Kenneth M. Woolley bought 10,500 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were bought at an average price of $200.75 per share, with a total value of $2,107,875.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 5,000 shares of Extra Space Storage stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $208.34, for a total value of $1,041,700.00. Following the transaction, the chief executive officer now directly owns 62,035 shares in the company, valued at approximately $12,924,371.90. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Zullo Investment Group Inc. purchased a new position in shares of Extra Space Storage during the fourth quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in Extra Space Storage in the first quarter worth $32,000. Huntington National Bank boosted its position in Extra Space Storage by 35.3% in the fourth quarter. Huntington National Bank now owns 203 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 53 shares during the last quarter. TAP Consulting LLC purchased a new position in Extra Space Storage in the fourth quarter worth $51,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Extra Space Storage in the first quarter valued at $55,000. 95.44% of the stock is currently owned by institutional investors.
About Extra Space Storage (Get Rating)
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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