Extra Space Storage (NYSE:EXR) Issues Quarterly Earnings Results

Extra Space Storage (NYSE:EXR) issued its earnings results on Tuesday. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93, Zacks reports. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage updated its FY 2025 guidance to 8.000-8.300 EPS.

Extra Space Storage Price Performance

NYSE EXR opened at $154.05 on Thursday. The firm’s fifty day simple moving average is $151.94 and its two-hundred day simple moving average is $163.62. The firm has a market capitalization of $32.66 billion, a P/E ratio of 40.33, a P/E/G ratio of 7.76 and a beta of 0.91. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage has a 12-month low of $131.02 and a 12-month high of $184.87.

Extra Space Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.21%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EXR. Truist Financial increased their price objective on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. StockNews.com raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price objective for the company in a report on Friday, January 10th. Barclays dropped their target price on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company reduced their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $173.09.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the transaction, the chief executive officer now owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.36% of the company’s stock.

About Extra Space Storage

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.