Extra Space Storage Inc (EXR) to Issue Quarterly Dividend of $1.62 on June 30th

Extra Space Storage Inc (NYSE:EXR) announced a quarterly dividend on Thursday, May 14th. Stockholders of record on Monday, June 15th will be paid a dividend of 1.62 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Monday, June 15th.

Extra Space Storage has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. Extra Space Storage has a payout ratio of 135.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Extra Space Storage to earn $8.47 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 76.5%.

Extra Space Storage Stock Performance

Shares of NYSE EXR traded up $0.07 during trading on Friday, reaching $150.33. 890,142 shares of the company traded hands, compared to its average volume of 1,020,898. The firm has a 50 day simple moving average of $142.29 and a 200-day simple moving average of $139.46. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $31.76 billion, a PE ratio of 33.71, a P/E/G ratio of 4.88 and a beta of 1.20. Extra Space Storage has a 52-week low of $125.71 and a 52-week high of $155.19.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.87). The company had revenue of $856.03 million for the quarter, compared to analysts’ expectations of $851.35 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 EPS. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities research analysts anticipate that Extra Space Storage will post 8.24 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on EXR. JPMorgan Chase & Co. raised their price objective on shares of Extra Space Storage from $142.00 to $144.00 and gave the stock a “neutral” rating in a report on Monday, March 23rd. UBS Group raised their price objective on shares of Extra Space Storage from $148.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Wall Street Zen downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday. Truist Financial dropped their price objective on shares of Extra Space Storage from $158.00 to $150.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Finally, Wells Fargo & Company raised their price objective on shares of Extra Space Storage from $148.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Extra Space Storage currently has an average rating of “Hold” and an average price target of $152.29.

Extra Space Storage Company Profile

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.