The stock of Extra Space Storage, Inc. (NYSE:EXR) hit a new 52-week low and has $64.66 target or 6.00% below today’s $68.79 share price. The 6 months bearish chart indicates high risk for the $8.67B company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $64.66 price target is reached, the company will be worth $520.20M 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 603,174 shares traded hands. Extra Space Storage, Inc. (NYSE:EXR) has declined 19.81% since April 19, 2016 and is downtrending. It has underperformed by 23.67% 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. The company was maintained on Friday, October 2 by Citigroup. As per Wednesday, August 26, the company rating was downgraded by Zacks. The firm has “Outperform” rating given on Friday, August 12 by Raymond James. The firm earned “Underweight” rating on Wednesday, November 11 by BB&T Capital. The rating was initiated by DA Davidson with “Neutral” on Friday, June 24. Evercore maintained Extra Space Storage, Inc. (NYSE:EXR) rating on Tuesday, September 8. Evercore has “Hold” rating and $72 price target. As per Monday, December 7, the company rating was upgraded by KeyBanc Capital Markets. The rating was maintained by Jefferies with “Buy” on Wednesday, August 10. The rating was maintained by Jefferies with “Buy” on Tuesday, May 31. On Thursday, July 23 the stock rating was initiated by Robert W. Baird with “Outperform”.
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 0.94 in Q2 2016. Its down 0.17, from 1.11 in 2016Q1. The ratio worsened, 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.
Alps Advsr Incorporated has invested 0.01% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR). Liberty Mutual Group Asset Mngmt holds 0.03% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR) for 9,072 shares. Cookson Peirce And Com last reported 85,605 shares in the company. Capstone Asset Comm owns 20,312 shares or 0.06% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) holds 21,358 shares or 0.03% of its portfolio. The United Kingdom-based Standard Life Invests Limited has invested 0.03% in Extra Space Storage, Inc. (NYSE:EXR). Teachers Retirement Systems Of The State Of Kentucky holds 0.02% or 20,500 shares in its portfolio. Duff And Phelps Management last reported 0.9% of its portfolio in the stock. Logan Capital Mgmt last reported 0.11% of its portfolio in the stock. Capital Mgmt Va accumulated 0.32% or 8,850 shares. Deere has 5,633 shares for 0.03% of their US portfolio. Vanguard Group Incorporated accumulated 20.56 million shares or 0.12% of the stock. Fmr Limited Com has 10.30 million shares for 0.13% of their US portfolio. Mutual Of America Cap Ltd Liability holds 0.04% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR) for 18,006 shares. The North Dakota-based Bell State Comml Bank has invested 1.62% in Extra Space Storage, Inc. (NYSE:EXR).
Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 5 selling transactions for $8.60 million net activity. On Wednesday, June 1 the insider Kirk Spencer sold $1.86 million.
More notable recent Extra Space Storage, Inc. (NYSE:EXR) news were published by: Forbes.com which released: “Extra Space Storage Enters Oversold Territory” on August 03, 2016, also Prnewswire.com with their article: “Extra Space Storage Inc. Completes $1.15 Billion Senior Unsecured Credit Facility” published on October 17, 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. Reports 2016 Second Quarter Results” published on July 27, 2016 as well as Prnewswire.com‘s news article titled: “Extra Space Storage Inc. Reports 2015 Fourth Quarter and Year-End Results” with publication date: February 23, 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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