Zacks Research Research Analysts Decrease Earnings Estimates for Extra Space Storage Inc. (NYSE:EXR)

Extra Space Storage Inc. (NYSE:EXRFree Report) – Investment analysts at Zacks Research dropped their FY2026 earnings per share estimates for shares of Extra Space Storage in a research report issued to clients and investors on Monday, April 1st. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings of $8.68 per share for the year, down from their prior forecast of $8.79. The consensus estimate for Extra Space Storage’s current full-year earnings is $8.05 per share.

Extra Space Storage (NYSE:EXRGet Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The company had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period last year, the firm posted $2.09 EPS.

A number of other equities research analysts have also recently issued reports on EXR. TheStreet raised shares of Extra Space Storage from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Extra Space Storage in a report on Tuesday, January 30th. They set a “hold” rating and a $141.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Raymond James reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Extra Space Storage in a report on Thursday, March 28th. Finally, Truist Financial upped their price target on shares of Extra Space Storage from $138.00 to $152.00 and gave the stock a “hold” rating in a report on Thursday, December 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average price target of $151.08.

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Extra Space Storage Trading Down 0.2 %

NYSE:EXR opened at $146.74 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $31.05 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 3.61 and a beta of 0.74. The firm’s 50 day moving average is $143.45 and its 200 day moving average is $135.91. Extra Space Storage has a 12 month low of $101.19 and a 12 month high of $165.85.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $1.62 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.42%. Extra Space Storage’s dividend payout ratio (DPR) is presently 131.17%.

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the sale, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Extra Space Storage news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares of the company’s stock, valued at $5,369,060. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,532 shares of company stock worth $514,819. Corporate insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

Hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of Extra Space Storage by 1,272.7% during the first quarter. First Horizon Advisors Inc. now owns 151 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 140 shares during the last quarter. EdgeRock Capital LLC purchased a new position in Extra Space Storage in the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC purchased a new position in Extra Space Storage in the 4th quarter worth approximately $26,000. Money Concepts Capital Corp purchased a new position in Extra Space Storage in the 4th quarter worth approximately $27,000. Finally, Zions Bancorporation N.A. raised its holdings in Extra Space Storage by 241.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 212 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares during the last quarter. 99.11% of the stock is owned by institutional investors.

Extra Space Storage Company Profile

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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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Earnings History and Estimates for Extra Space Storage (NYSE:EXR)

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