Analyst Rating Update on Extra Space Storage Inc (EXR)

Extra Space Storage Inc (NYSE:EXR) : The consensus on Extra Space Storage Inc (NYSE:EXR) based on 13 analyst recommendation on the company stock is 1.85, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 8 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

Extra Space Storage Inc (NYSE:EXR) : The consensus price target for Extra Space Storage Inc (NYSE:EXR) is $96.96 for the short term with a standard deviation of $10.55. The most optimist securities analyst among the 12 who monitor the stock believes that the stock can reach $110, however, the pessimist price target for the company is $75.

For the current week, the company shares have a recommendation consensus of Buy. Also, DA Davidson initiates coverage on Extra Space Storage Inc (NYSE:EXR). DA Davidson has a Neutral rating on the shares. As per the latest report, the brokerage house announces the price target to $95 per share. The rating by the firm was issued on June 24, 2016.

Extra Space Storage Inc (NYSE:EXR): stock turned positive on Tuesday. Though the stock opened at $90.71, the bulls momentum made the stock top out at $91.77 level for the day. The stock recorded a low of $90.51 and closed the trading day at $91.48, in the green by 1.30%. The total traded volume for the day was 895,318. The stock had closed at $90.31 in the previous days trading.

In an insider trading activity,The director officer (Chief Executive Officer) of Extra Space Storage Inc., Kirk Spencer sold 20,000 shares at $93 on June 1, 2016. The Insider selling transaction had a total value worth of $1,860,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 Companys 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 Companys self-storage facilities. The Companys 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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.