The stock of Extra Space Storage, Inc. (NYSE:EXR) hit a new 52-week low and has $65.98 target or 7.00% below today’s $70.95 share price. The 8 months bearish chart indicates high risk for the $8.92B company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $65.98 price target is reached, the company will be worth $624.40 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. About 170,467 shares traded hands. Extra Space Storage, Inc. (NYSE:EXR) has declined 23.52% since April 1, 2016 and is downtrending. It has underperformed by 24.73% the S&P500.
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. As per Friday, October 2, the company rating was maintained by Citigroup. Jefferies maintained the shares of EXR in a report on Tuesday, May 31 with “Buy” rating. The firm has “Buy” rating given on Wednesday, August 10 by Jefferies. The firm earned “Overweight” rating on Monday, December 7 by KeyBanc Capital Markets. The firm has “Outperform” rating given on Friday, August 12 by Raymond James. Zacks downgraded the shares of EXR in a report on Friday, August 28 to “Buy” rating. BMO Capital Markets upgraded Extra Space Storage, Inc. (NYSE:EXR) on Thursday, August 13 to “Outperform” rating. As per Friday, November 13, the company rating was upgraded by Raymond James. The firm has “Underweight” rating given on Wednesday, November 11 by BB&T Capital. The firm earned “Buy” rating on Friday, September 4 by Zacks.
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 fall, 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.
Commonwealth Bancorp Of Aus holds 0% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR) for 782 shares. Comml Bank Of Nova Scotia last reported 0.05% of its portfolio in the stock. Goldman Sachs Inc, a New York-based fund reported 678,717 shares. Parametric Port Assocs Llc has invested 0.02% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR). Marietta Inv Prtnrs Lc reported 50,989 shares or 1.69% of all its holdings. Moreover, Mitsubishi Ufj Trust And Corp has 0.06% invested in Extra Space Storage, Inc. (NYSE:EXR) for 285,447 shares. Natixis Asset Management last reported 5,912 shares in the company. Wellington Mngmt Grp Limited Liability Partnership holds 0.02% or 760,706 shares in its portfolio. Utah Retirement has invested 0.06% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR). Boston Ltd accumulated 55,237 shares or 0.13% of the stock. Independent Port Consultants Inc last reported 1,395 shares in the company. Capital Fund Mgmt Sa owns 10,552 shares or 0.01% of their US portfolio. Comerica Commercial Bank reported 34,661 shares or 0.02% of all its holdings. Liberty Mutual Gp Asset Mgmt reported 9,072 shares or 0.03% of all its holdings. Schroder Invest Group Incorporated reported 95,372 shares or 0.02% of all its holdings.
Insider Transactions: Since May 4, 2016, the stock had 0 insider purchases, and 8 insider sales for $9.85 million net activity. Kirk Spencer also sold $1.83M worth of Extra Space Storage, Inc. (NYSE:EXR) shares. 6,673 shares with value of $623,217 were sold by Sondhi Samrat on Tuesday, May 10. Shares for $46,750 were sold by McNeal Gwyn Goodson. KUNDE GRACE sold $152,104 worth of stock or 1,700 shares. The insider Stubbs P Scott sold $583,196.
More notable recent Extra Space Storage, Inc. (NYSE:EXR) news were published by: Prnewswire.com which released: “Extra Space Storage Inc. Reports 2016 Third Quarter Results” on October 26, 2016, also Prnewswire.com with their article: “Extra Space Storage Inc. Completes $1.15 Billion Senior Unsecured Credit Facility” published on October 17, 2016, Forbes.com published: “Extra Space Storage Enters Oversold Territory” on August 03, 2016. More interesting news about Extra Space Storage, Inc. (NYSE:EXR) were released by: Prnewswire.com and their article: “Extra Space Storage Inc. Announces Date of Earnings Release and Conference …” published on September 30, 2016 as well as Prnewswire.com‘s news article titled: “Extra Space Storage Inc. Announces Third Quarter 2016 Dividend” with publication date: August 29, 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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