Extra Space Storage (EXR), a REIT, is expected to report Q2 earnings after market close Tuesday, July 29, with a conference call scheduled for Wednesday, July 30 at 1:00 pm ET.
Analysts are looking for EPS of 30c on revenue of $62.51M. The consensus range for EPS is 29c to 31c, while the consensus range for revenue is $58.02M to $67.09M, according to First Call.
Merrill Lynch recently downgraded Extra Space Storage to Underperform from Neutral, with a $13.50 target. Wachovia recently reduced their space absorption assumption for all of the commercial property companies they cover. The firm believes that deteriorating property and leasing conditions will affect the companies' 2009-2010 results more than this year's.
In May, Extra Space Storage issued 13M shares in a secondary offering. Investors may be looking to find out during the REIT's Q2 conference whether it will have to issue more shares in order to obtain additional liquidity