The stock of Extra Space Storage, Inc. (NYSE:EXR) hit a new 52-week low and has $68.73 target or 8.00% below today’s $74.71 share price. The 6 months bearish chart indicates high risk for the $9.47B company. The 1-year low was reported on Oct, 5 by Barchart.com. If the $68.73 price target is reached, the company will be worth $757.60 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. Extra Space Storage, Inc. (NYSE:EXR) has declined 11.13% since March 2, 2016 and is downtrending. It has underperformed by 19.38% the S&P500.
Analysts await Extra Space Storage, Inc. (NYSE:EXR) to report earnings on October, 26. They expect $0.99 EPS, up 22.22% or $0.18 from last year’s $0.81 per share. EXR’s profit will be $125.49M for 18.87 P/E if the $0.99 EPS becomes a reality. After $0.94 actual EPS 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 firm has “Buy” rating by Zacks given on Wednesday, August 26. The firm has “Buy” rating given on Friday, September 4 by Zacks. The stock of Extra Space Storage, Inc. (NYSE:EXR) has “Strong Buy” rating given on Friday, November 13 by Raymond James. Evercore maintained Extra Space Storage, Inc. (NYSE:EXR) on Tuesday, September 8 with “Hold” rating. Raymond James downgraded the shares of EXR in a report on Friday, August 12 to “Outperform” rating. On Friday, June 24 the stock rating was initiated by DA Davidson with “Neutral”. Robert W. Baird initiated the shares of EXR in a report on Thursday, July 23 with “Outperform” rating. Jefferies maintained the shares of EXR in a report on Wednesday, August 5 with “Buy” rating. DA Davidson maintained it with “Neutral” rating and $95 target price in Friday, July 29 report. Citigroup maintained Extra Space Storage, Inc. (NYSE:EXR) rating on Friday, October 2. Citigroup has “Neutral” rating and $80 price target.
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 2016 Q2. Its down 0.06, from 1.17 in 2016Q1. The ratio dropped, 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.
Natl Planning owns 4,476 shares or 0.03% of their US portfolio. Texas Permanent School Fund accumulated 40,624 shares or 0.05% of the stock. Moreover, Cohen And Steers has 1.92% invested in Extra Space Storage, Inc. (NYSE:EXR) for 7.96M shares. Fort Washington Advsrs Inc Oh has invested 0.01% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR). Andra Ap accumulated 25,200 shares or 0.06% of the stock. Lmr Prtnrs Limited Liability Partnership last reported 14,005 shares in the company. Canada Pension Plan Investment Board last reported 7,200 shares in the company. Deere & has 0.03% invested in the company for 5,633 shares. Princeton Alpha Mngmt Limited Partnership holds 0.05% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR) for 3,330 shares. Bnp Paribas Investment Prtn accumulated 0.01% or 18,064 shares. The Illinois-based First Midwest Bancorp Tru Division has invested 0.23% in Extra Space Storage, Inc. (NYSE:EXR). Westport Res holds 0.06% or 2,119 shares in its portfolio. Dupont Capital Management Corp has invested 0.07% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR). M&T Fincl Bank Corp accumulated 0.02% or 27,889 shares. Alps Incorporated last reported 14,154 shares in the company.
Insider Transactions: Since May 4, 2016, the stock had 0 insider purchases, and 9 insider sales for $10.00 million net activity. Another trade for 20,000 shares valued at $1.86 million was sold by Kirk Spencer. The insider Stubbs P Scott sold 6,250 shares worth $583,196. 1,700 shares were sold by KUNDE GRACE, worth $152,104 on Wednesday, May 4. Sondhi Samrat also sold $623,217 worth of Extra Space Storage, Inc. (NYSE:EXR) shares. The insider McNeal Gwyn Goodson sold 500 shares worth $46,750.
More notable recent Extra Space Storage, Inc. (NYSE:EXR) news were published by: Prnewswire.com which released: “Extra Space Storage Inc. Announces Date of Earnings Release and Conference …” on September 30, 2016, also Forbes.com with their article: “Extra Space Storage Enters Oversold Territory” published on August 03, 2016, Prnewswire.com 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: Prnewswire.com and their article: “Extra Space Storage Inc. Announces Third Quarter 2016 Dividend” published on August 29, 2016 as well as Prnewswire.com‘s news article titled: “Extra Space Storage Inc. to Present at Bank of America Merrill Lynch 2016 …” with publication date: September 09, 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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