Extra Space Storage Inc reports results for the quarter ended in December - Earnings Summary

Extra Space Storage

28/02/2024 06:08

* Extra Space Storage Inc  EXR.N  reported quarterly
adjusted
earnings of $1.02​​ per share for the quarter ended in December,
lower than the same quarter last year, when the company reported
EPS of $1.52.  The mean expectation of nine analysts for the
quarter was for earnings of $1.21 per share. Wall Street
expected results to range from 96 cents to $1.32 per share.
    * Revenue rose 37.5% to $696.98 million from a year ago;
analysts
expected $720.81 million. 
    * Extra Space Storage Inc's reported EPS for the quarter was
$1.02​.
    * The company reported quarterly net income of $216.13
million.
    * Extra Space Storage Inc shares had fallen by 12.5% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.4%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 11
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the specialized
reits
peer group is also "hold"

Wall Street's median 12-month price target for Extra Space
Storage Inc is $158.00 
This summary was machine generated from LSEG data February 28 at
06:07 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      2.02           1.89           Missed
 Sep. 30 2023      1.92           2.02           Beat
 Jun. 30 2023      2.14           2.06           Missed
 Mar. 31 2023      2.06           2.02           Missed