DA Davidson Initiates Coverage on Extra Space Storage to Neutral

DA Davidson Initiates Coverage on Extra Space Storage(NYSE:EXR). The shares have been rated Neutral. The rating by DA Davidson was issued on Jun 24, 2016.

In a different note, On May 31, 2016, Jefferies said it Maintains its rating on Extra Space Storage. In the research note, the firm Lowers the price-target to $105.00 per share. The shares have been rated ‘Buy’ by the firm.

Extra Space Storage (EXR) shares turned negative on Wednesdays trading session with the shares closing down -0.12 points or -0.13% at a volume of 9,43,475. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $92.46. The peak price level was also seen at $92.46 while the days lowest was $91.01. Finally the shares closed at $91.36. The 52-week high of the shares is $94.81 while the 52-week low is $64.7801. According to the latest information available, the market cap of the company is $11,439 M.

Extra Space Storage(EXR) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $199.49M. Analysts had an estimated revenue of $203.47M. Earnings per share were $0.86. Analysts had estimated an EPS of $0.85.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2016, Spencer Kirk (Chief Executive Officer) sold 20,000 shares at $93.00 per share price.Also, On May 16, 2016, P Scott Stubbs (Executive VP and CFO) sold 6,250 shares at $93.31 per share price.On May 11, 2016, Gwyn Goodson Mcneal (EVP/Chief Legal Officer) sold 500 shares at $93.50 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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 Company’s self-storage facilities. The Company’s 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.

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