Earnings results for Extra Space Storage (NYSE:EXR)
Extra Space Storage Inc is expected* to report earnings on 04/28/2021 after market close. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 7 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.49. The reported EPS for the same quarter last year was $1.24.
Extra Space Storage last announced its quarterly earnings data on February 21st, 2021. The real estate investment trust reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by $0.16. The firm earned $301.10 million during the quarter, compared to the consensus estimate of $293.09 million. Its revenue was up 4.3% compared to the same quarter last year. Extra Space Storage has generated $4.88 earnings per share over the last year and currently has a price-to-earnings ratio of 43.7. Extra Space Storage has confirmed that its next quarterly earnings report will be published on Wednesday, April 28th, 2021.
Analyst Opinion on Extra Space Storage (NYSE:EXR)
11 Wall Street analysts have issued ratings and price targets for Extra Space Storage in the last 12 months. Their average twelve-month price target is $129.00, predicting that the stock has a possible downside of 12.40%. The high price target for EXR is $147.00 and the low price target for EXR is $111.00. There are currently 1 sell rating, 1 hold rating and 9 buy ratings for the stock, resulting in a consensus rating of “Buy.”
Extra Space Storage has received a consensus rating of Buy. The company’s average rating score is 2.73, and is based on 9 buy ratings, 1 hold rating, and 1 sell rating. According to analysts’ consensus price target of $129.00, Extra Space Storage has a forecasted downside of 12.4% from its current price of $147.26. Extra Space Storage has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.
Dividend Strength: Extra Space Storage (NYSE:EXR)
Extra Space Storage pays a meaningful dividend of 2.73%, higher than the bottom 25% of all stocks that pay dividends. Extra Space Storage has only been increasing its dividend for 1 years. The dividend payout ratio of Extra Space Storage is 81.97%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, Extra Space Storage will have a dividend payout ratio of 73.39% next year. This indicates that Extra Space Storage will be able to sustain or increase its dividend.
Insiders buying/selling: Extra Space Storage (NYSE:EXR)
In the past three months, Extra Space Storage insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $7,934,040.00 in company stock. Only 2.64% of the stock of Extra Space Storage is held by insiders. 96.89% of the stock of Extra Space Storage is held by institutions. High institutional ownership can be a signal of strong market trust in this company.
Earnings and Valuation of Extra Space Storage (NYSE:EXR
Earnings for Extra Space Storage are expected to grow by 6.45% in the coming year, from $5.12 to $5.45 per share. The P/E ratio of Extra Space Storage is 43.70, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 24.35. The P/E ratio of Extra Space Storage is 43.70, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 23.12. Extra Space Storage has a PEG Ratio of 5.80. PEG Ratios above 1 indicate that a company could be overvalued. Extra Space Storage has a P/B Ratio of 6.53. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
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