Extra Space Storage Inc (NYSE:EXR) Declares $1.62 Quarterly Dividend

Key Points

• Extra Space Storage declared a quarterly dividend of $1.62 per share, payable March 31 to shareholders of record March 16, implying a 4.6% yield.
• The company’s reported dividend payout ratio is currently 135.8%, meaning the dividend exceeds earnings today, but analysts expect ~\$8.34 EPS next year (company FY26 guidance \$8.05–\$8.35), which would lower the payout to about 77.7%.
• In its latest quarter EXR beat estimates with \$2.08 EPS vs. \$2.03 expected and revenue \$857.5M (up 4.3% YoY vs. \$732.9M expected); the shares trade near \$141 with a market cap around \$29.8B and a P/E of ~30.7.

Extra Space Storage Inc (NYSE:EXR - Get Free Report) declared a quarterly dividend on Friday, February 13th. Stockholders of record on Monday, March 16th will be given a dividend of 1.62 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, March 16th.

Extra Space Storage has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 years. Extra Space Storage has a dividend payout ratio of 135.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Extra Space Storage to earn $8.34 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 77.7%.

Extra Space Storage Stock Performance

NYSE:EXR opened at $141.34 on Friday. The stock has a 50-day moving average price of $143.43 and a 200 day moving average price of $139.81. The stock has a market capitalization of $29.84 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.82 and a beta of 1.24. Extra Space Storage has a 12-month low of $121.03 and a 12-month high of $155.19. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.92.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.05. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.The company had revenue of $857.47 million for the quarter, compared to analysts' expectations of $732.92 million. During the same period in the previous year, the firm earned $2.03 EPS. The firm's revenue was up 4.3% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Equities research analysts forecast that Extra Space Storage will post 8.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Extra Space Storage

Hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC grew its stake in shares of Extra Space Storage by 9.3% in the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust's stock worth $506,000 after buying an additional 291 shares in the last quarter. Empowered Funds LLC raised its position in shares of Extra Space Storage by 15.5% during the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust's stock valued at $729,000 after buying an additional 661 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Extra Space Storage in the 2nd quarter valued at about $457,000. Los Angeles Capital Management LLC bought a new position in shares of Extra Space Storage in the 2nd quarter valued at about $422,000. Finally, Campbell & CO Investment Adviser LLC grew its position in Extra Space Storage by 22.9% in the second quarter. Campbell & CO Investment Adviser LLC now owns 3,152 shares of the real estate investment trust's stock worth $465,000 after acquiring an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

About Extra Space Storage

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.