Goldman slashes price target on Extra Space Storage Inc. [EXR] – find out why.

Extra Space Storage Inc. [NYSE: EXR] closed the trading session at $101.10 on 08/06/20. The day’s price range saw the stock hit a low of $97.40, while the highest price level was $101.57. The company report on August 4, 2020 that Extra Space Storage Inc. Reports 2020 Second Quarter Results.

Extra Space Storage Inc. (NYSE: EXR) (the “Company”), a leading owner and operator of self-storage facilities in the United States and a member of the S&P 500, announced operating results for the three and six months ended June 30, 2020.

Extra Space Storage Inc. (NYSE: EXR) (the “Company”), a leading owner and operator of self-storage facilities in the United States and a member of the S&P 500, announced operating results for the three and six months ended June 30, 2020.

The stocks have a year to date performance of -4.28 percent and weekly performance of -0.40 percent. The stock has been moved at -8.11 percent over the last six months. The stock has performed 5.68 percent around the most recent 30 days and changed 14.66 percent over the most recent 3-months.

If compared to the average trading volume of 931.02K shares, EXR reached to a volume of 1145399 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Extra Space Storage Inc. [EXR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EXR shares is $100.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EXR stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Extra Space Storage Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 26, 2020. The new note on the price target was released on June 15, 2020, representing the official price target for Extra Space Storage Inc. stock. Previously, the target price had yet another raise to $82, while KeyBanc Capital Markets analysts kept a Underweight rating on EXR stock.

The Average True Range (ATR) for Extra Space Storage Inc. is set at 2.79, with the Price to Sales ratio for EXR stock in the period of the last 12 months amounting to 9.64. The Price to Book ratio for the last quarter was 5.45, with the Price to Cash per share for the same quarter was set at 0.74. Price to Free Cash Flow for EXR in the course of the last twelve months was 50.45.

EXR stock trade performance evaluation

Extra Space Storage Inc. [EXR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.40. With this latest performance, EXR shares gained by 5.68% in over the last four-week period, additionally sinking by -8.11% over the last 6 months – not to mention a drop of -13.57% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EXR stock in for the last two-week period is set at 53.26, with the RSI for the last a single of trading hit 54.71, and the three-weeks RSI is set at 55.59 for Extra Space Storage Inc. [EXR]. The present Moving Average for the last 50 days of trading for this stock 97.53, while it was recorded at 102.75 for the last single week of trading, and 100.54 for the last 200 days.

Extra Space Storage Inc. [EXR]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Extra Space Storage Inc. [EXR] shares currently have an operating margin of +33.50 and a Gross Margin at +55.69. Extra Space Storage Inc.’s Net Margin is presently recorded at +31.75.

Return on Total Capital for EXR is now 5.59, given the latest momentum, and Return on Invested Capital for the company is 5.87. Return on Equity for this stock inclined to 16.93, with Return on Assets sitting at 5.12. When it comes to the capital structure of this company, Extra Space Storage Inc. [EXR] has a Total Debt to Total Equity ratio set at 209.69. Additionally, EXR Total Debt to Total Capital is recorded at 67.71, with Total Debt to Total Assets ending up at 62.42. Long-Term Debt to Equity for the company is recorded at 186.19, with the Long-Term Debt to Total Capital now at 60.12.

Reflecting on the efficiency of the workforce at the company, Extra Space Storage Inc. [EXR] managed to generate an average of $103,579 per employee.

Earnings per share (EPS) analysis for Extra Space Storage Inc. [EXR] stock

With the latest financial reports released by the company, Extra Space Storage Inc. posted 0.79/share EPS, while the average EPS was predicted by analysts to be reported at 0.81/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -2.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EXR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Extra Space Storage Inc. go to 6.00%.

Extra Space Storage Inc. [EXR]: Insider Ownership positions

There are presently around $13,018 million, in the hands of institutional investors. The top three institutional holders of EXR stocks are: VANGUARD GROUP INC with ownership of 21,055,941, which is approximately 0.165% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 14,820,178 shares of the stock with an approximate value of $1.5 billion in EXR stocks shares; and COHEN & STEERS, INC., currently with $1.04 billion in EXR stock with ownership of nearly -0.791% of the company’s market capitalization.

Positions in Extra Space Storage Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 203 institutional holders increased their position in Extra Space Storage Inc. [NYSE:EXR] by around 7,209,982 shares. Additionally, 276 investors decreased positions by around 9,105,579 shares, while 56 investors held positions by with 112,448,329 shares. The mentioned changes placed institutional holdings at 128,763,890 shares, according to the latest SEC report filing. EXR stock had 40 new institutional investments in for a total of 2,948,842 shares, while 79 institutional investors sold positions of 1,950,065 shares during the same period.

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