Extra Space Storage Inc (NYSE:EXR) had its target price lifted by Cantor Fitzgerald from $77.00 to $81.00 in a research note released on Thursday morning. They currently have a neutral rating on the real estate investment trust’s stock.

“Cantor Estimates. We are raising our ’17 and ’18 core FFO/sh. estimates to $4.34 and $4.52 from $4.31 and $4.51, respectively. Our ’17 and ’18 FFO/sh. estimates are unchanged at $4.27 and $4.48. Our NAV/sh. estimate is $76.90 from $73.60. Our 2017 and 2018 SSNOI estimates are 6.2% and 3.7% from 5.5% and 3.0% prior. EXR ’17 SS revenue growth outlook is 4.75%, SS expense guidance +1.5%, leading to SSNOI growth guidance of 6.1% MP.”,” the firm’s analyst commented.

A number of other brokerages also recently weighed in on EXR. Jefferies Group LLC reissued a hold rating and set a $80.00 price target on shares of Extra Space Storage in a research report on Tuesday, October 24th. BMO Capital Markets reissued a hold rating and set a $78.00 price target on shares of Extra Space Storage in a research report on Thursday, November 2nd. KeyCorp reissued a hold rating on shares of Extra Space Storage in a research report on Wednesday, October 11th. Zacks Investment Research raised Extra Space Storage from a hold rating to a buy rating and set a $90.00 price target on the stock in a research report on Wednesday, October 11th. Finally, Bank of America Corporation downgraded Extra Space Storage from a buy rating to a neutral rating and lowered their price target for the stock from $83.00 to $81.00 in a research report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $83.00.

Shares of Extra Space Storage (EXR) traded up $0.55 during midday trading on Thursday, reaching $86.00. The company’s stock had a trading volume of 653,700 shares, compared to its average volume of 1,138,737. The firm has a market capitalization of $10,836.69, a P/E ratio of 20.09, a PEG ratio of 3.50 and a beta of 0.38. The company has a current ratio of 0.75, a quick ratio of 0.57 and a debt-to-equity ratio of 1.68. Extra Space Storage has a 1 year low of $68.09 and a 1 year high of $87.31.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The firm had revenue of $284.16 million for the quarter, compared to the consensus estimate of $246.85 million. Extra Space Storage had a return on equity of 14.41% and a net margin of 33.21%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 earnings per share. equities analysts forecast that Extra Space Storage will post 4.33 EPS for the current fiscal year.

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In other news, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $75.50, for a total transaction of $98,150.00. Following the completion of the sale, the executive vice president now owns 86,275 shares in the company, valued at $6,513,762.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $79.64, for a total value of $1,592,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,900 shares of company stock valued at $5,089,327. Corporate insiders own 3.72% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Suntrust Banks Inc. boosted its stake in shares of Extra Space Storage by 1.4% in the second quarter. Suntrust Banks Inc. now owns 3,300 shares of the real estate investment trust’s stock valued at $256,000 after buying an additional 45 shares during the period. Creative Planning boosted its stake in shares of Extra Space Storage by 1.1% in the second quarter. Creative Planning now owns 5,912 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 62 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Extra Space Storage by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the real estate investment trust’s stock valued at $608,000 after buying an additional 100 shares during the period. Commerce Bank boosted its stake in shares of Extra Space Storage by 1.8% in the second quarter. Commerce Bank now owns 5,668 shares of the real estate investment trust’s stock valued at $442,000 after buying an additional 100 shares during the period. Finally, State of Tennessee Treasury Department boosted its stake in shares of Extra Space Storage by 0.3% in the second quarter. State of Tennessee Treasury Department now owns 59,438 shares of the real estate investment trust’s stock valued at $4,636,000 after buying an additional 160 shares during the period.

About Extra Space Storage

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.

Analyst Recommendations for Extra Space Storage (NYSE:EXR)

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