Extra Space Storage Inc. (NYSE:EXR - Free Report) - Stock analysts at Zacks Research issued their FY2027 earnings per share (EPS) estimates for Extra Space Storage in a note issued to investors on Tuesday, March 18th. Zacks Research analyst R. Department forecasts 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 - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million for the quarter, compared to analysts' expectations of $707.34 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%.
Several other research firms have also recently commented on EXR. Royal Bank of Canada lowered their target price on Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. Truist Financial increased their price target 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. Barclays cut their price objective on shares of 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. Scotiabank decreased their target price on shares of Extra Space Storage from $167.00 to $165.00 and set a "sector perform" rating for the company in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Extra Space Storage has an average rating of "Hold" and an average target price of $171.09.
View Our Latest Analysis on EXR
Extra Space Storage Stock Performance
NYSE EXR traded up $2.04 on Thursday, hitting $145.84. The stock had a trading volume of 1,248,161 shares, compared to its average volume of 1,002,508. The company's 50-day moving average is $152.73 and its two-hundred day moving average is $160.75. The stock has a market cap of $30.92 billion, a price-to-earnings ratio of 38.18, a P/E/G ratio of 7.76 and a beta of 0.90. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage has a one year low of $131.02 and a one year high of $184.87.
Hedge Funds Weigh In On Extra Space Storage
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its stake in Extra Space Storage by 34.4% during the 3rd quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock valued at $2,278,000 after purchasing an additional 3,234 shares during the period. Swedbank AB raised its position in Extra Space Storage by 4.5% during the third quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust's stock valued at $43,810,000 after buying an additional 10,408 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Extra Space Storage by 724.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,981,799 shares of the real estate investment trust's stock valued at $357,100,000 after buying an additional 1,741,320 shares during the period. Duff & Phelps Investment Management Co. lifted its stake in Extra Space Storage by 9.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 35,503 shares of the real estate investment trust's stock worth $6,397,000 after acquiring an additional 3,093 shares in the last quarter. Finally, Brown Financial Advisors boosted its position in Extra Space Storage by 69.1% during the 3rd quarter. Brown Financial Advisors now owns 9,134 shares of the real estate investment trust's stock worth $1,646,000 after acquiring an additional 3,731 shares during the period. Institutional investors and hedge funds own 99.11% of the company's stock.
Insider Transactions at Extra Space Storage
In other Extra Space Storage news, EVP William N. Springer sold 1,220 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the completion of the transaction, the executive vice president now directly owns 20,158 shares in the company, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the transaction, the chief executive officer now directly owns 16,690 shares in the company, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock valued at $1,396,515 over the last three months. Company insiders own 1.36% of the company's stock.
Extra Space Storage Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage's payout ratio is 160.40%.
About Extra Space Storage
(
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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.
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