Zacks Research Has Negative Forecast for EXR Q1 Earnings

Extra Space Storage Inc. (NYSE:EXR) – Investment analysts at Zacks Research lowered their Q1 2025 earnings per share estimates for shares of Extra Space Storage in a note issued to investors on Tuesday, March 18th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will earn $1.95 per share for the quarter, down from their previous forecast of $1.99. The consensus estimate for Extra Space Storage’s current full-year earnings is $8.10 per share. Zacks Research also issued estimates for Extra Space Storage’s Q2 2025 earnings at $2.06 EPS, Q3 2025 earnings at $2.05 EPS, Q4 2025 earnings at $2.04 EPS, FY2025 earnings at $8.09 EPS, Q1 2026 earnings at $2.06 EPS, Q2 2026 earnings at $2.16 EPS, Q3 2026 earnings at $2.14 EPS, Q4 2026 earnings at $2.12 EPS and FY2026 earnings at $8.49 EPS.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The firm 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%.

Other equities analysts also recently issued research reports about the stock. Truist Financial boosted their price objective on shares of 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 decreased their price target 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. StockNews.com lowered Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. 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, Wells Fargo & Company dropped their price objective on shares of 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and an average price target of $171.09.

Extra Space Storage Stock Down 1.3 %

Shares of NYSE:EXR opened at $143.92 on Friday. The stock has a market cap of $30.51 billion, a P/E ratio of 37.67, a price-to-earnings-growth 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 52-week low of $131.02 and a 52-week high of $184.87. The business’s 50 day moving average is $152.76 and its 200 day moving average is $161.05.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fairtree Asset Management Pty Ltd purchased a new position in Extra Space Storage during the fourth quarter worth $356,000. Wealth Enhancement Advisory Services LLC raised its stake in Extra Space Storage by 36.5% during 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 purchasing an additional 4,183 shares during the period. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Extra Space Storage in the 4th quarter worth $10,158,000. Mattson Financial Services LLC grew its position in Extra Space Storage by 74.4% during the fourth quarter. Mattson Financial Services LLC now owns 18,044 shares of the real estate investment trust’s stock valued at $2,699,000 after acquiring an additional 7,696 shares during the period. Finally, Phocas Financial Corp. purchased a new position in Extra Space Storage in the fourth quarter valued at approximately $284,000. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Joseph D. Margolis sold 7,500 shares of the business’s 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 transaction, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. The trade was a 31.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now owns 4,557 shares of the company’s stock, valued at approximately $679,448.70. The trade was a 12.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,392 shares of company stock valued at $1,396,515. 1.36% of the stock is currently owned by insiders.

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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Friday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 160.40%.

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.