FY2027 Earnings Forecast for EXR Issued By Zacks Research

Extra Space Storage Inc. (NYSE:EXR) – Stock analysts at Zacks Research issued their FY2027 earnings per share (EPS) estimates for Extra Space Storage in a research report issued to clients and investors on Tuesday, March 18th. Zacks Research analyst R. Department expects 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.

EXR has been the subject of several other reports. Royal Bank of Canada reduced their price objective on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Barclays reduced their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Truist Financial raised their target price on Extra Space Storage from $167.00 to $168.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Finally, Scotiabank dropped their target price on Extra Space Storage from $167.00 to $165.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $171.09.

Extra Space Storage Trading Down 0.8 %

Shares of NYSE:EXR opened at $145.67 on Thursday. Extra Space Storage has a 52-week low of $131.02 and a 52-week high of $184.87. The stock has a market cap of $30.88 billion, a price-to-earnings ratio of 38.13, a PEG 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. The business has a 50-day moving average price of $152.82 and a 200-day moving average price of $161.38.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million.

Institutional Trading of Extra Space Storage

A number of institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Extra Space Storage by 36.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,629 shares of the real estate investment trust’s stock worth $2,338,000 after acquiring an additional 4,183 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Extra Space Storage in the fourth quarter worth approximately $10,158,000. Mattson Financial Services LLC boosted its stake in shares of Extra Space Storage by 74.4% in the fourth quarter. Mattson Financial Services LLC now owns 18,044 shares of the real estate investment trust’s stock worth $2,699,000 after acquiring an additional 7,696 shares during the last quarter. Phocas Financial Corp. acquired a new stake in shares of Extra Space Storage in the fourth quarter worth approximately $284,000. Finally, Siemens Fonds Invest GmbH lifted its position in Extra Space Storage by 3.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 2,320 shares of the real estate investment trust’s stock worth $342,000 after buying an additional 68 shares in the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Extra Space Storage

In other news, 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 value of $1,110,075.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction that occurred 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 sale, the director now directly owns 4,557 shares in the company, valued at $679,448.70. This represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,392 shares of company stock valued at $1,396,515. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.45%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s payout ratio is currently 160.40%.

Extra Space Storage Company Profile

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.