Research Analysts Set Expectations for EXR FY2027 Earnings

Extra Space Storage Inc. (NYSE:EXR) – Equities research analysts at Zacks Research issued their FY2027 earnings per share (EPS) estimates for shares of Extra Space Storage in a research note issued on Tuesday, March 18th. Zacks Research analyst R. Department anticipates that the real estate investment trust will post earnings per share of $8.99 for the year. The consensus estimate for Extra Space Storage’s current full-year earnings is $8.10 per share.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The company had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million.

A number of other research firms also recently weighed in on EXR. Royal Bank of Canada decreased their price target on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Friday, March 7th. Barclays decreased their price target on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. The Goldman Sachs Group restated a “buy” rating on shares of Extra Space Storage in a research note on Thursday, March 6th. Finally, Wells Fargo & Company decreased their price target on Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Extra Space Storage currently has an average rating of “Hold” and a consensus target price of $171.09.

Extra Space Storage Trading Down 0.8 %

Shares of EXR stock opened at $146.71 on Thursday. The business’s 50 day moving average is $152.86 and its two-hundred day moving average is $161.49. Extra Space Storage has a twelve month low of $131.02 and a twelve month high of $184.87. The company has a market capitalization of $31.10 billion, a P/E ratio of 38.40, a price-to-earnings-growth ratio of 7.76 and a beta of 0.90. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.42%. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

Insider Transactions at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares of the company’s stock, valued at $2,470,286.90. The trade was 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 the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the completion of the transaction, the director now directly owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,392 shares of company stock valued at $1,396,515 over the last three months. 1.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extra Space Storage

Several institutional investors have recently added to or reduced their stakes in EXR. OneDigital Investment Advisors LLC acquired a new position in Extra Space Storage in the third quarter valued at $210,000. Empowered Funds LLC increased its stake in Extra Space Storage by 7.2% in the third quarter. Empowered Funds LLC now owns 3,928 shares of the real estate investment trust’s stock valued at $708,000 after purchasing an additional 264 shares during the last quarter. Natixis Advisors LLC increased its stake in Extra Space Storage by 2.0% in the third quarter. Natixis Advisors LLC now owns 108,688 shares of the real estate investment trust’s stock valued at $19,585,000 after purchasing an additional 2,095 shares during the last quarter. Pathstone Holdings LLC increased its stake in Extra Space Storage by 1.1% in the third quarter. Pathstone Holdings LLC now owns 13,027 shares of the real estate investment trust’s stock valued at $2,347,000 after purchasing an additional 148 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Extra Space Storage in the third quarter valued at $1,144,000. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.