Stock Buzzer: After Today’s Significant Decline, Is Extra Space Storage, Inc.’s Near-Term Analysis Negative?

Stock Buzzer: After Today's Significant Decline, Is Extra Space Storage, Inc.'s Near Term Analysis Negative?

The stock of Extra Space Storage, Inc. (NYSE:EXR) is a huge mover today! The stock decreased 1.85% or $1.5 on September 30, hitting $79.41. Extra Space Storage, Inc. (NYSE:EXR) has declined 3.34% since February 29, 2016 and is downtrending. It has underperformed by 13.76% the S&P500.
The move comes after 5 months negative chart setup for the $10.06B company. It was reported on Oct, 1 by We have $74.65 PT which if reached, will make NYSE:EXR worth $603.60M less.

Analysts await Extra Space Storage, Inc. (NYSE:EXR) to report earnings on October, 26. They expect $0.99 earnings per share, up 22.22% or $0.18 from last year’s $0.81 per share. EXR’s profit will be $125.42 million for 20.05 P/E if the $0.99 EPS becomes a reality. After $0.94 actual earnings per share reported by Extra Space Storage, Inc. for the previous quarter, Wall Street now forecasts 5.32% EPS growth.

Extra Space Storage, Inc. (NYSE:EXR) Ratings Coverage

Out of 12 analysts covering Extra Space Storage Inc. (NYSE:EXR), 7 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 58% are positive. Extra Space Storage Inc. has been the topic of 22 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock of Extra Space Storage, Inc. (NYSE:EXR) has “Neutral” rating given on Friday, June 24 by DA Davidson. The stock has “Hold” rating given by Evercore on Tuesday, September 8. The stock of Extra Space Storage, Inc. (NYSE:EXR) has “Underweight” rating given on Wednesday, November 11 by BB&T Capital. The stock has “Overweight” rating given by KeyBanc Capital Markets on Monday, December 7. Zacks downgraded the shares of EXR in a report on Wednesday, August 26 to “Buy” rating. As per Tuesday, May 31, the company rating was maintained by Jefferies. As per Thursday, July 23, the company rating was initiated by Robert W. Baird. Citigroup maintained the stock with “Neutral” rating in Friday, October 2 report. Zacks upgraded it to “Buy” rating and $80 target price in Friday, September 4 report. The stock has “Outperform” rating given by BMO Capital Markets on Thursday, August 13.

According to Zacks Investment Research, “Extra Space Storage Inc. is a fully integrated, self-administered and self-managed real estate investment trust that acquires, develops and operates self-storage facilities.”

Insitutional Activity: The institutional sentiment decreased to 1.11 in Q2 2016. Its down 0.06, from 1.17 in 2016Q1. The ratio dived, as 36 funds sold all Extra Space Storage, Inc. shares owned while 132 reduced positions. 45 funds bought stakes while 141 increased positions. They now own 119.25 million shares or 2.90% less from 122.82 million shares in 2016Q1.
Millennium reported 51,815 shares or 0.01% of all its holdings. Aviva Public Ltd holds 0.04% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR) for 70,213 shares. Tower Research Capital Lc (Trc) last reported 0% of its portfolio in the stock. Crestpoint Limited Liability Company last reported 0.51% of its portfolio in the stock. Teachers Retirement Of The State Of Kentucky holds 20,500 shares or 0.02% of its portfolio. Eii Cap Mgmt accumulated 108,500 shares or 2.95% of the stock. Lazard Asset Mgmt, a New York-based fund reported 108,860 shares. Oregon Employees Retirement Fund owns 20,169 shares or 0.04% of their US portfolio. Pggm Invests holds 2.40 million shares or 1.13% of its portfolio. Finemark Bank & holds 49 shares or 0% of its portfolio. New Mexico Educational Retirement Board holds 0.13% or 32,357 shares in its portfolio. The British Columbia – Canada-based British Columbia Mgmt Corporation has invested 0.07% in Extra Space Storage, Inc. (NYSE:EXR). Meiji Yasuda Asset Management last reported 6,410 shares in the company. Navellier And Associate has invested 0.33% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR). Moreover, Euclid Ltd Limited Liability Company has 0.06% invested in Extra Space Storage, Inc. (NYSE:EXR) for 15,763 shares.

Insider Transactions: Since May 4, 2016, the stock had 0 insider purchases, and 8 sales for $8.44 million net activity. 6,673 Extra Space Storage, Inc. (NYSE:EXR) shares with value of $623,217 were sold by Sondhi Samrat. Kirk Spencer sold $1.83M worth of Extra Space Storage, Inc. (NYSE:EXR) on Friday, July 1. $583,196 worth of shares were sold by Stubbs P Scott on Thursday, May 12. Shares for $46,750 were sold by McNeal Gwyn Goodson on Tuesday, May 10. $152,104 worth of shares were sold by KUNDE GRACE on Wednesday, May 4.

More notable recent Extra Space Storage, Inc. (NYSE:EXR) news were published by: which released: “Extra Space Storage Inc. Announces Date of Earnings Release and Conference …” on September 30, 2016, also with their article: “Extra Space Storage Enters Oversold Territory” published on August 03, 2016, published: “Extra Space Storage Announces Executive Leadership Transition” on September 12, 2016. More interesting news about Extra Space Storage, Inc. (NYSE:EXR) were released by: and their article: “Extra Space Storage Inc. to Present at Bank of America Merrill Lynch 2016 …” published on September 09, 2016 as well as‘s news article titled: “Extra Space Storage Inc. Reports 2016 Second Quarter Results” with publication date: July 27, 2016.

EXR Company Profile

Extra Space Storage Inc., incorporated on April 30, 2004, is a self-administered and self-managed real estate investment trust (REIT). The Firm operates through three divisions: rental operations; tenant reinsurance, and property management, acquisition and development. The Firm owns, operates, manages, acquires, develops and redevelops self-storage properties (stores). The Firm has interests in approximately 1000 operating stores. Of these stores, the Company owns approximately 270 stores in joint venture partnerships. An additional approximately 350 operating stores are owned by third parties and operated by the Company. The Company’s operating stores are located in over 30 states of the United States, Washington D.C. and Puerto Rico, and contains approximately 100 million square feet of net rentable space in approximately 896,000 units.

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