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Stay Ahead of the Game With Extra Space Storage (EXR) Q3 Earnings: Wall Street's Insights on Key Metrics
Wall Street analysts expect Extra Space Storage (EXR - Free Report) to post quarterly earnings of $2.03 per share in its upcoming report, which indicates a year-over-year increase of 0.5%. Revenues are expected to be $821.37 million, up 9.8% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
That said, let's delve into the average estimates of some Extra Space Storage metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Property rental' to come in at $707.21 million. The estimate suggests a change of +8.7% year over year.
It is projected by analysts that the 'Management and franchise fees' will reach $29.82 million. The estimate indicates a change of +6.4% from the prior-year quarter.
Analysts forecast 'Tenant insurance' to reach $83.22 million. The estimate indicates a year-over-year change of +20.4%.
The combined assessment of analysts suggests that 'Depreciation and amortization' will likely reach $195.07 million. The estimate is in contrast to the year-ago figure of $152.34 million.
View all Key Company Metrics for Extra Space Storage here>>>
Over the past month, shares of Extra Space Storage have returned -6.8% versus the Zacks S&P 500 composite's +1.5% change. Currently, EXR carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>