Extra Space Storage (EXR) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 94 from a previous price target of $88 . RBC Capital Mkts advised their investors in a research report released on May 9, 2016.
On the company’s financial health, Extra Space Storage reported $0.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.85. The company had revenue of $229.40 million for the quarter, compared to analysts expectations of $201.01 million. The company’s revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.
Extra Space Storage opened for trading at $90.92 and hit $92.63 on the upside on Friday, eventually ending the session at $92.43, with a gain of 1.87% or 1.7 points. The heightened volatility saw the trading volume jump to 7,99,268 shares. Company has a market cap of $11,559 M.
In a different news, on May 5, 2016, Grace Kunde (SVP Accounting and Finance) sold 1,700 shares at $89.47 per share price. According to the SEC, on May 3, 2016, Spencer Kirk (Chief Executive Officer) sold 20,000 shares at $86.06 per share price. On Nov 19, 2015, Kenneth M. Woolley (Executive Chairman) sold 200,000 shares at $80.63 per share price, according to the Form-4 filing with the securities and exchange commission.
Extra Space Storage Inc. is a fully integrated self-administered and self-managed real estate investment trust (REIT). The Company owns operates manages acquires develops and redevelops professionally managed self-storage properties (stores). 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 self-storage stores. Tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in the Company’s self-storage facilities. The Company’s property management acquisition and development activities include managing acquiring developing and selling self-storage stores. As of December 31 2014 it held ownership interests in 828 operating stores. Of these operating stores 557 are wholly owned and 271 are owned in joint venture partnerships.