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

Extra Space Storage

01/05/2024 01:07

* Extra Space Storage Inc  EXR.N  reported quarterly
adjusted
earnings of $1.01​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $1.46.  The mean expectation of eight analysts for the
quarter was for earnings of 99 cents per share. Wall Street
expected results to range from 93 cents to $1.03 per share.
    * Revenue rose 58.5% to $688.04 million from a year ago;
analysts
expected $703.92 million. 
    * Extra Space Storage Inc's reported EPS for the quarter was
$1.01​.
    * The company reported quarterly net income of $213.11
million.
    * Extra Space Storage Inc shares had fallen by 6.5% this
quarter and lost 14.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 10
"hold" and 2 "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 $157.00 
This summary was machine generated from LSEG data May 1 at 12:07
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
 Mar. 31 2024      1.95           1.87           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