Extra Space Storage (EXR) Earns Coverage Optimism Rating of 0.21
News coverage about Extra Space Storage (NYSE:EXR) has been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern rates the sentiment of news coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Extra Space Storage earned a news sentiment score of 0.21 on Accern’s scale. Accern also assigned headlines about the real estate investment trust an impact score of 46.1015766075824 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
A number of analysts have weighed in on the company. Wells Fargo & Co set a $93.00 price target on Extra Space Storage and gave the company a “buy” rating in a research note on Thursday, November 30th. Jefferies Group restated a “hold” rating and issued a $80.00 price target on shares of Extra Space Storage in a research note on Tuesday, October 24th. Cantor Fitzgerald restated a “hold” rating and issued a $77.00 price target on shares of Extra Space Storage in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Extra Space Storage from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Monday, November 27th. Finally, Robert W. Baird reiterated a “buy” rating and set a $92.00 target price on shares of Extra Space Storage in a research report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.42.
Extra Space Storage (EXR) traded up $0.94 on Friday, hitting $83.64. The stock had a trading volume of 1,008,419 shares, compared to its average volume of 892,456. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.75 and a quick ratio of 0.75. Extra Space Storage has a twelve month low of $71.34 and a twelve month high of $88.56. The firm has a market capitalization of $10,540.00, a PE ratio of 30.75, a P/E/G ratio of 3.14 and a beta of 0.39.
Extra Space Storage announced that its board has approved a share buyback program on Monday, November 13th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Thursday, December 14th. Extra Space Storage’s dividend payout ratio (DPR) is currently 114.71%.
In related news, Director Spencer Kirk sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $81.38, for a total transaction of $1,627,600.00. Following the transaction, the director now owns 665,748 shares of the company’s stock, valued at $54,178,572.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James Overturf sold 880 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $82.88, for a total value of $72,934.40. Following the transaction, the executive vice president now directly owns 79,935 shares in the company, valued at approximately $6,625,012.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,830 shares of company stock worth $3,660,665. Corporate insiders own 3.72% of the company’s stock.
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Extra Space Storage Company Profile
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.
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