Extra Space Storage (EXR) Stock Price, News & Analysis

Company Overview

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, D.C. 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. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States.

Key Stats

• Today's Range: $164.40 to $168.19
• 50-Day Range: $161.03 to $183.14
• 52-Week Range: $125.32 to $184.87
• Volume: 282,927 shs
• Average Volume: 1.03 million shs
• Market Capitalization: $35.47 billion
• P/E Ratio: 43.80
• Dividend Yield: 3.87%
• Price Target: $171.50
• Consensus Rating: Hold

Extra Space Storage Stock Analysis - MarketRank™

Extra Space Storage scored higher than 86% of companies evaluated by MarketBeat, and ranked 189th out of 916 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.1 / 5
• Analyst Rating: Hold

Consensus Rating

Extra Space Storage has received a consensus rating of Hold. The company's average rating score is 2.21, and is based on 5 buy ratings, 7 hold ratings, and 2 sell ratings.

Amount of Analyst Coverage

Extra Space Storage has been the subject of 6 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 2.97%

Earnings Growth

Earnings for Extra Space Storage are expected to grow by 2.97% in the coming year, from $8.09 to $8.33 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Extra Space Storage is 43.80, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 125.60.

Price to Earnings Ratio vs. Sector

The P/E ratio of Extra Space Storage is 43.80, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 46.79.

Price to Earnings Growth Ratio

Extra Space Storage has a PEG Ratio of 8.34. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Extra Space Storage has a P/B Ratio of 2.37. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.75% of the outstanding shares of Extra Space Storage have been sold short.

Short Interest Ratio / Days to Cover

Extra Space Storage has a short interest ratio ("days to cover") of 4.

Change versus previous month

Short interest in Extra Space Storage has recently decreased by 0.80%, indicating that investor sentiment is improving.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

Extra Space Storage is a leading dividend payer. It pays a dividend yield of 3.92%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Extra Space Storage does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Extra Space Storage is 169.63%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on EPS estimates, Extra Space Storage will have a dividend payout ratio of 77.79% in the coming year. This indicates that Extra Space Storage may not be able to sustain their current dividend.

Sustainability and ESG

• Score: 4.0 / 5
• Environmental Score: -0.57

Percentage of Shares Shorted

1.75% of the outstanding shares of Extra Space Storage have been sold short.

Short Interest Ratio / Days to Cover

Extra Space Storage has a short interest ratio ("days to cover") of 4.

Change versus previous month

Short interest in Extra Space Storage has recently decreased by 0.80%, indicating that investor sentiment is improving.

News and Social Media

• Score: 2.1 / 5
• News Sentiment: 0.85

News Sentiment

Extra Space Storage has a news sentiment score of 0.85. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Finance companies.

News Coverage This Week

MarketBeat has tracked 18 news articles for Extra Space Storage this week, compared to 9 articles on an average week.

Search Interest

Only 3 people have searched for EXR on MarketBeat in the last 30 days. This is a decrease of -57% compared to the previous 30 days.

MarketBeat Follows

Only 5 people have added Extra Space Storage to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Extra Space Storage insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $3,874,316.00 in company stock.

Percentage Held by Insiders

Only 1.36% of the stock of Extra Space Storage is held by insiders.

Percentage Held by Institutions

99.11% of the stock of Extra Space Storage is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

EXR Stock Analysis - Frequently Asked Questions

How have EXR shares performed this year?

Extra Space Storage's stock was trading at $160.33 at the start of the year. Since then, EXR shares have increased by 4.4% and is now trading at $167.32.
View the best growth stocks for 2024 here.

How were Extra Space Storage's earnings last quarter?

Extra Space Storage Inc. (NYSE:EXR) announced its quarterly earnings data on Tuesday, October, 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by $1.12. The firm's quarterly revenue was up 10.2% on a year-over-year basis.
Read the conference call transcript.

Who are Extra Space Storage's major shareholders?

Top institutional shareholders of Extra Space Storage include State Street Corp (6.32%), Principal Financial Group Inc. (3.17%), Geode Capital Management LLC (2.67%) and Massachusetts Financial Services Co. MA (1.40%). Insiders that own company stock include Kenneth M Woolley, Samrat Sondhi, Joseph Saffire, Gwyn Goodson Mcneal, Joseph D Margolis, William N Springer, Matthew T Herrington, Diane Olmstead, Joseph J Bonner and P Scott Stubbs.
View institutional ownership trends.

How do I buy shares of Extra Space Storage?

Shares of EXR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Extra Space Storage own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Extra Space Storage investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Broadcom (AVGO), Tesla (TSLA), Exxon Mobil (XOM) and Costco Wholesale (COST).

Company Calendar

• Ex-Dividend for 9/30 Dividend: 9/16/2024
• Dividend Payable: 9/30/2024
• Last Earnings: 10/29/2024
• Today: 11/21/2024
• Ex-Dividend for 12/31 Dividend: 12/16/2024
• Dividend Payable: 12/31/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/25/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: Real estate investment trusts
• Sub-Industry: Specialized REITs
• Current Symbol: NYSE:EXR
• Previous Symbol: NYSE:EXR
• CUSIP: 30225T10
• CIK: 1289490
• Web: www.extraspace.com
• Phone: (801) 365-4600
• Fax: 801-365-4801
• Employees: 7,618
• Year Founded: 1977

Price Target and Rating

• Average Stock Price Target: $171.50
• High Stock Price Target: $204.00
• Low Stock Price Target: $141.00
• Potential Upside/Downside: +2.5%
• Consensus Rating: Hold
• Rating Score (0-4): 2.21
• Research Coverage: 14 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $3.82
• Trailing P/E Ratio: 43.80
• Forward P/E Ratio: 20.68
• P/E Growth: 8.34
• Net Income: $803.20 million
• Net Margins: 25.35%
• Pretax Margin: 27.27%
• Return on Equity: 5.51%
• Return on Assets: 3.03%

Debt

• Debt-to-Equity Ratio: 0.77
• Current Ratio: 0.23
• Quick Ratio: 0.23

Sales & Book Value

• Annual Sales: $2.56 billion
• Price / Sales: 13.85
• Cash Flow: $6.58 per share
• Price / Cash Flow: 25.42
• Book Value: $70.57 per share
• Price / Book: 2.37

Miscellaneous

• Outstanding Shares: 211,980,000
• Free Float: 209,101,000
• Market Cap: $35.47 billion
• Optionable: Optionable
• Beta: 0.87