Wells Fargo Sticks to Its Buy Rating for Extra Space Storage (EXR)


In a report released today, Todd Stender from Wells Fargo maintained a Buy rating on Extra Space Storage (EXR). The company’s shares closed last Friday at $92.97.

According to TipRanks.com, Stender is a 4-star analyst with an average return of 5.4% and a 57.4% success rate. Stender covers the Financial sector, focusing on stocks such as Diversified Healthcare Trust, National Storage Affiliates, and National Retail Properties.

The word on The Street in general, suggests a Hold analyst consensus rating for Extra Space Storage with a $98.89 average price target.

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Based on Extra Space Storage’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $332 million and net profit of $108 million. In comparison, last year the company earned revenue of $312 million and had a net profit of $94.77 million.

Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EXR in relation to earlier this year. Earlier this month, Gwyn Goodson Mcneal, the EVP of EXR sold 5,525 shares for a total of $577,829.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Extra Space Storage, Inc. is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rents The Tenant Reinsurance segment consists of reinsurance of risks relating to the loss of good stored by tenants in the firm’s stores. The company was founded by Kenneth Musser Woolley on April 30, 2004 and is headquartered in Salt Lake City, UT.

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