About Extra Space Storage (NYSE:EXR)
Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development. The Company's rental operations activities include rental operations of stores in which it has an ownership interest. The Tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in its stores. The Company's property management, acquisition and development activities include managing, acquiring, developing and selling stores. The Company's interest in its stores is held through its operating partnership, Extra Space Storage LP (the Operating Partnership). Its primary assets are general partner and limited partner interests in the Operating Partnership.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Self-Storage REITs
- Sub-Industry: Specialized REITs
- Symbol: NYSE:EXR
- CUSIP: 30225T10
- Web: www.extraspace.com
- Market Cap: $10.3 billion
- Outstanding Shares: 126,000,000
- 50 Day Moving Avg: $79.93
- 200 Day Moving Avg: $77.66
- 52 Week Range: $68.09 - $83.23
Sales & Book Value:
- Trailing P/E Ratio: 27.95
- Foreward P/E Ratio: 28.00
- P/E Growth: 4.93
- Annual Revenue: $1.07 billion
- Price / Sales: 9.63
- Book Value: $17.64 per share
- Price / Book: 4.64
- Annual Dividend: $3.12
- Dividend Yield: 3.8%
- EBITDA: $705.23 million
- Net Margins: 36.35%
- Return on Equity: 15.20%
- Return on Assets: 5.60%
- Debt-to-Equity Ratio: 1.66%
- Current Ratio: 0.57%
- Quick Ratio: 0.57%
- Average Volume: 1.01 million shs.
- Beta: 0.36
- Short Ratio: 14.02
Frequently Asked Questions for Extra Space Storage (NYSE:EXR)
What is Extra Space Storage's stock symbol?
Extra Space Storage trades on the New York Stock Exchange (NYSE) under the ticker symbol "EXR."
How often does Extra Space Storage pay dividends? What is the dividend yield for Extra Space Storage?
Extra Space Storage announced a quarterly dividend on Monday, August 28th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.78 per share on Friday, September 29th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Thursday, September 14th. View Extra Space Storage's Dividend History.
How were Extra Space Storage's earnings last quarter?
Extra Space Storage Inc (NYSE:EXR) posted its earnings results on Tuesday, August, 1st. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.05 by $0.04. The firm earned $276 million during the quarter, compared to the consensus estimate of $239.89 million. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. View Extra Space Storage's Earnings History.
When will Extra Space Storage make its next earnings announcement?
What guidance has Extra Space Storage issued on next quarter's earnings?
Extra Space Storage issued an update on its FY17 earnings guidance on Tuesday, August, 1st. The company provided earnings per share (EPS) guidance of $4.25 to $4.32 for the period, compared to the Thomson Reuters consensus estimate of $4.25.
Where is Extra Space Storage's stock going? Where will Extra Space Storage's stock price be in 2017?
10 analysts have issued 12 month target prices for Extra Space Storage's shares. Their forecasts range from $77.00 to $95.00. On average, they expect Extra Space Storage's share price to reach $81.63 in the next twelve months. View Analyst Ratings for Extra Space Storage.
What are analysts saying about Extra Space Storage stock?
Here are some recent quotes from research analysts about Extra Space Storage stock:
- 1. According to Zacks Investment Research, "Shares of Extra Space Storage outperformed the industry it belongs to, in the past three months. The stock has seen the Zacks Consensus Estimate for current-year funds from operations (FFO) per share being revised upward in two months’ time. The company’s focus to expand its geographical footprint through accretive acquisitions and third-party management platforms is anticipated to drive growth over the long term. In fact, the company gained an increased scale in several core markets on the back of these acquisitions, as well as fortified its presence in a number of new markets. Moreover, its presence in key cities and strategic joint ventures serve as growth drivers amid sound demand in the self-storage industry. However, increasing supply of self-storage units in certain markets and stiff competition remain concerns. Also, rate hike adds to its woes." (10/11/2017)
- 2. Cantor Fitzgerald analysts commented, "We are reiterating our Neutral rating and $76 price target on EXR. 4Q core FFO/sh. beat our estimates and consensus by $0.05, with an increase in rental rates offset by a decline in occupancy. In line with CubeSmart and LifeStorage's results, there was a moderation in the deceleration in SS rev. growth rates in the quarter. As with the 4Q SS revenue growth rate, the outlook for 2017 implies that deceleration in growth will slow (5.2% in 4Q vs. 4-5% in 2017). On a relative basis, EXR's 2017 SS revenue growth may be slightly higher than that of CUBE, at 25bps, and 100bps higher than that of LSI. We maintain our Neutral rating largely on a relative valuation basis. EXR is trading at an 8.1% NAV/sh. premium (Cantor ests.) vs. 0.6% for self-storage peers (average for CUBE, LSI and PSA)." (2/22/2017)
Who are some of Extra Space Storage's key competitors?
Some companies that are related to Extra Space Storage include Hartford Financial Services Group, Inc. (The) (HIG), Nomura Holdings Inc ADR (NMR), Deutsche Boerse AG (DBOEY), Interactive Brokers Group (IBKR), Digital Realty Trust (DLR), KB Financial Group (KB), Principal Financial Group (PFG), Citizens Financial Group (CFG), Cielo SA (CIOXY), Boston Properties (BXP), Erste Group Bank AG (EBKDY), Regions Financial Corporation (RF), Essex Property Trust (ESS), Lincoln National Corporation (LNC), National Bank of Canada (NTIOF), Credicorp (BAP), Loews Corporation (L) and First Republic Bank (FRC).
Who are Extra Space Storage's key executives?
Extra Space Storage's management team includes the folowing people:
- Kenneth M. Woolley, Executive Chairman of the Board
- Joseph D. Margolis, Chief Executive Officer
- Peter Scott Stubbs, Chief Financial Officer, Executive Vice President
- Samrat Sondhi, Chief Operating Officer, Executive Vice President
- James L. Overturf, Executive Vice President, Chief Marketing Officer
- Gwyn G. McNeal, Executive Vice President, Chief Legal Officer
- Roger B. Porter Ph.D., Lead Independent Director
- Spencer F. Kirk, Director
- Dennis J. Letham, Independent Director
- Diane Olmstead, Independent Director
Who owns Extra Space Storage stock?
Extra Space Storage's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include PGGM Investments (1.17%), APG Asset Management N.V. (0.82%), Fisher Asset Management LLC (0.17%), Robeco Institutional Asset Management B.V. (0.09%), State Treasurer State of Michigan (0.03%) and Spirit of America Management Corp NY (0.02%). Company insiders that own Extra Space Storage stock include Dennis J Letham, Grace Kunde, Gwyn Goodson Mcneal, James Overturf, Karl Haas, Kenneth M Woolley, P Scott Stubbs, Samrat Sondhi and Spencer Kirk. View Institutional Ownership Trends for Extra Space Storage.
Who sold Extra Space Storage stock? Who is selling Extra Space Storage stock?
Extra Space Storage's stock was sold by a variety of institutional investors in the last quarter, including PGGM Investments, Fisher Asset Management LLC, Robeco Institutional Asset Management B.V., Spirit of America Management Corp NY and State Treasurer State of Michigan. Company insiders that have sold Extra Space Storage stock in the last year include James Overturf and Spencer Kirk. View Insider Buying and Selling for Extra Space Storage.
Who bought Extra Space Storage stock? Who is buying Extra Space Storage stock?
Extra Space Storage's stock was purchased by a variety of institutional investors in the last quarter, including APG Asset Management N.V., Exane Derivatives, Mutual of America Capital Management LLC and Oakbrook Investments LLC. View Insider Buying and Selling for Extra Space Storage.
How do I buy Extra Space Storage stock?
Shares of Extra Space Storage can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Extra Space Storage's stock price today?
MarketBeat Community Rating for Extra Space Storage (NYSE EXR)MarketBeat's community ratings are surveys of what our community members think about Extra Space Storage and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Extra Space Storage stock can currently be purchased for approximately $81.77.
Consensus Ratings for Extra Space Storage (NYSE:EXR) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||1 Sell Rating, 8 Hold Ratings, 1 Strong Buy Rating|
|Consensus Rating:||Hold (Score: 2.10)|
|Consensus Price Target: ||$81.63 (0.18% downside)|Consensus Price Target History for Extra Space Storage (NYSE:EXR)
Analysts' Ratings History for Extra Space Storage (NYSE:EXR)
(Data available from 10/23/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|9/14/2017||Evercore ISI||Reiterated Rating||In-Line||$78.00 -> $80.00||Low|
|9/11/2017||BMO Capital Markets||Initiated Coverage||Market Perform||$78.00||Medium|
|9/1/2017||Cantor Fitzgerald||Reiterated Rating||Hold||$77.00||Low|
|7/20/2017||Bank of America Corporation||Downgrade||Buy -> Neutral||$83.00 -> $81.00||Low|
|5/15/2017||Goldman Sachs Group, Inc. (The)||Upgrade||Buy -> Conviction-Buy||$95.00||Low|
|5/11/2017||Citigroup Inc.||Reiterated Rating||Neutral||Medium|
|4/27/2017||Royal Bank Of Canada||Reiterated Rating||Hold||$80.00||High|
|4/3/2017||Jefferies Group LLC||Reiterated Rating||Hold||$80.00||High|
|12/12/2016||Morgan Stanley||Downgrade||Equal Weight -> Underweight||N/A|
|8/12/2016||Raymond James Financial, Inc.||Downgrade||Strong-Buy -> Outperform||$95.00 -> $106.00||N/A|
|7/29/2016||DA Davidson||Boost Price Target||Neutral||$90.00 -> $95.00||N/A|
|7/25/2016||SunTrust Banks, Inc.||Downgrade||Buy -> Neutral||$107.00 -> $100.00||N/A|
|11/10/2015||BB&T Corporation||Initiated Coverage||Underweight||$74.50 -> $74.50||N/A|
Earnings History for Extra Space Storage (NYSE:EXR)Earnings History by Quarter for Extra Space Storage (NYSE EXR)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|8/1/2017||Q2 2017||$1.05||$1.09||$239.89 million||$276.00 million||View||Listen|
|4/26/2017||Q1 2017||$0.98||$1.03||$233.12 million||$263.00 million||View||N/A|
|2/21/2017||Q416||$0.55||$1.03||$227.18 million||$229.00 million||View||Listen|
|10/26/2016||Q3||$0.99||$1.02||$218.17 million||$257.20 million||View||Listen|
|7/27/2016||Q2||$0.93||$0.94||$213.32 million||$244.30 million||View||Listen|
|5/2/2016||Q116||$0.85||$0.86||$204.78 million||$229.40 million||View||Listen|
|2/23/2016||Q415||$0.76||$0.87||$191.15 million||$225.76 million||View||Listen|
|10/28/2015||Q315||$0.78||$0.81||$169.93 million||$197.50 million||View||Listen|
|7/29/2015||Q215||$0.74||$0.72||$168.25 million||$185.86 million||View||Listen|
|4/29/2015||Q115||$0.68||$0.68||$167.49 million||$173.20 million||View||Listen|
|2/19/2015||Q414||$0.67||$0.68||$160.54 million||$167.37 million||View||Listen|
|10/29/2014||Q314||$0.66||$0.72||$158.10 million||$167.37 million||View||Listen|
|7/30/2014||Q214||$0.63||$0.63||$153.02 million||$160.20 million||View||Listen|
|4/28/2014||Q114||$0.55||$0.55||$142.90 million||$152.20 million||View||Listen|
|2/20/2014||Q413||$0.55||$0.52||$133.59 million||$141.93 million||View||Listen|
|10/29/2013||Q313||$0.50||$0.54||$129.03 million||$133.10 million||View||Listen|
|8/2/2013||Q213||$0.49||$0.50||$123.77 million||$126.20 million||View||Listen|
|4/29/2013||Q113||$0.44||$0.46||$111.69 million||$119.32 million||View||Listen|
|2/22/2013||Q412||$0.43||$0.46||$110.08 million||$113.70 million||View||Listen|
Earnings Estimates for Extra Space Storage (NYSE:EXR)
2017 EPS Consensus Estimate: $4.21
2018 EPS Consensus Estimate: $4.45
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Extra Space Storage (NYSE:EXR)
|Most Recent Dividend:||9/29/2017|
|Dividend Growth:||26.40% (3 Year Average)|
|Payout Ratio:||107.22% (Trailing 12 Months of Earnings) |
113.04% (Based on This Year's Estimates)
106.85% (Based on Next Year's Estimates)
|Track Record:||6 Years of Consecutive Dividend Growth|
Dividend History by Quarter for Extra Space Storage (NYSE EXR)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Extra Space Storage (NYSE:EXR)
Insider Ownership Percentage: 3.72%Insider Trades by Quarter for Extra Space Storage (NYSE:EXR)
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|10/19/2017||James Overturf||EVP||Sell||1,300||$81.80||$106,340.00|| |
|10/2/2017||Spencer Kirk||Director||Sell||20,000||$79.64||$1,592,800.00|| |
|9/15/2017||James Overturf||EVP||Sell||1,300||$78.49||$102,037.00|| |
|9/1/2017||Spencer Kirk||Director||Sell||20,000||$78.12||$1,562,400.00|| |
|8/22/2017||James Overturf||EVP||Sell||1,300||$75.50||$98,150.00|| |
|8/1/2017||Spencer Kirk||Director||Sell||20,000||$79.09||$1,581,800.00|| |
|7/18/2017||James Overturf||EVP||Sell||1,300||$77.27||$100,451.00|| |
|7/3/2017||Spencer Kirk||Director||Sell||20,000||$78.31||$1,566,200.00|| |
|6/9/2017||James Overturf||EVP||Sell||1,300||$74.90||$97,370.00|| |
|6/1/2017||Spencer Kirk||Director||Sell||20,000||$75.75||$1,515,000.00|| |
|5/17/2017||James Overturf||EVP||Sell||1,300||$74.59||$96,967.00|| |
|5/1/2017||Spencer Kirk||Director||Sell||20,000||$75.28||$1,505,600.00|| |
|4/21/2017||James Overturf||EVP||Sell||1,300||$80.50||$104,650.00|| |
|4/3/2017||Spencer Kirk||Director||Sell||20,000||$75.15||$1,503,000.00|| |
|3/17/2017||James Overturf||EVP||Sell||1,300||$75.21||$97,773.00|| |
|3/1/2017||Spencer Kirk||Director||Sell||20,000||$79.63||$1,592,600.00|| |
|2/8/2017||James Overturf||EVP||Sell||1,300||$74.10||$96,330.00|| |
|2/7/2017||James Overturf||CMO||Sell||600||$73.73||$44,238.00|| |
|2/1/2017||Spencer Kirk||Director||Sell||20,000||$71.88||$1,437,600.00|| |
|1/12/2017||James Overturf||EVP||Sell||1,300||$74.45||$96,785.00|| |
|1/3/2017||Spencer Kirk||Director||Sell||20,000||$76.65||$1,533,000.00|| |
|12/5/2016||Spencer Kirk||CEO||Sell||20,000||$69.43||$1,388,600.00|| |
|11/1/2016||Spencer Kirk||CEO||Sell||20,000||$72.29||$1,445,800.00|| |
|10/28/2016||Dennis J Letham||Director||Buy||2,000||$71.76||$143,520.00|| |
|10/3/2016||Spencer Kirk||CEO||Sell||20,000||$78.26||$1,565,200.00|| |
|9/1/2016||Spencer Kirk||CEO||Sell||20,000||$80.66||$1,613,200.00|| |
|8/1/2016||Spencer Kirk||CEO||Sell||20,000||$86.42||$1,728,400.00|| |
|7/1/2016||Spencer Kirk||CEO||Sell||20,000||$91.59||$1,831,800.00|| |
|6/1/2016||Spencer Kirk||CEO||Sell||20,000||$93.00||$1,860,000.00|| |
|5/12/2016||P Scott Stubbs||CFO||Sell||6,250||$93.31||$583,187.50|| |
|5/10/2016||Gwyn Goodson Mcneal||EVP||Sell||500||$93.50||$46,750.00|| |
|5/10/2016||Samrat Sondhi||COO||Sell||6,673||$93.39||$623,191.47|| |
|5/4/2016||Grace Kunde||SVP||Sell||1,700||$89.47||$152,099.00|| |
|5/2/2016||Spencer Kirk||CEO||Sell||20,000||$86.06||$1,721,200.00|| |
|4/1/2016||Spencer Kirk||CEO||Sell||20,000||$93.39||$1,867,800.00|| |
|3/10/2016||Karl Haas||Director||Sell||22,486||$84.92||$1,909,511.12|| |
|3/1/2016||Spencer Kirk||CEO||Sell||20,000||$83.60||$1,672,000.00|| |
|2/1/2016||Spencer Kirk||CEO||Sell||20,000||$90.16||$1,803,200.00|| |
|12/1/2015||Spencer Kirk||CEO||Sell||20,000||$84.41||$1,688,200.00|| |
|11/19/2015||Kenneth M. Woolley||Chairman||Sell||200,000||$80.68||$16,136,000.00|| |
|11/2/2015||Spencer Kirk||CEO||Sell||20,000||$79.13||$1,582,600.00|| |
|10/1/2015||Spencer Kirk||CEO||Sell||20,000||$76.92||$1,538,400.00|| |
|9/1/2015||Spencer Kirk||CEO||Sell||20,000||$72.40||$1,448,000.00|| |
|7/1/2015||Spencer Kirk||CEO||Sell||20,000||$65.65||$1,313,000.00|| |
|5/1/2015||Spencer Kirk||CEO||Sell||20,000||$65.88||$1,317,600.00|| |
|4/1/2015||Spencer Kirk||CEO||Sell||20,000||$67.04||$1,340,800.00|| |
|3/3/2015||Karl Haas||Director||Sell||10,990||$65.91||$724,350.90|| |
|3/2/2015||Spencer Kirk||CEO||Sell||20,000||$66.16||$1,323,200.00|| |
|2/2/2015||Spencer Kirk||CEO||Sell||20,000||$64.94||$1,298,800.00|| |
|1/2/2015||Spencer Kirk||CEO||Sell||20,000||$58.73||$1,174,600.00|| |
|8/7/2014||James Overturf||CMO||Sell||1,975||$52.17||$103,035.75|| |
|5/27/2014||Grace Kunde||SVP||Sell||1,543||$52.50||$81,007.50|| |
|5/5/2014||P Scott Stubbs||CFO||Sell||12,500||$51.60||$645,000.00|| |
|3/13/2014||Karl Haas||Director||Sell||20,740||$49.14||$1,019,163.60|| |
|9/16/2013||Grace Kunde||VP||Sell||1,700||$44.35||$75,395.00|| |
|9/10/2013||Karl Haas||COO||Sell||19,650||$43.00||$844,950.00|| |
|5/20/2013||Kenneth M Woolley||Chairman||Sell||38,015||$44.36||$1,686,345.40|| |
|5/17/2013||Kenneth M Woolley||Chairman||Sell||83,966||$44.42||$3,729,769.72|| |
Headline Trends for Extra Space Storage (NYSE:EXR)
Latest Headlines for Extra Space Storage (NYSE:EXR)
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Extra Space Storage (EXR) Chart for Monday, October, 23, 2017