Extra Space Storage (NYSE:EXR) Issues FY 2026 Earnings Guidance

Key Points

• Extra Space Storage set FY2026 EPS guidance at $8.05–$8.35, slightly below the consensus of $8.24, and did not provide revenue guidance.
• The company reported a strong quarter with EPS of $2.04, beating the consensus of $1.13 by $0.91.
• Extra Space Storage paid a quarterly dividend of $1.62 (annualized $6.48, ~4.6% yield) but carries a high payout ratio of 140.9%, which could raise sustainability concerns.

Extra Space Storage (NYSE:EXR - Get Free Report) updated its FY 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.050-8.350 for the period, compared to the consensus estimate of 8.240. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group dropped their target price on shares of Extra Space Storage from $156.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, January 8th. Mizuho lifted their price objective on shares of Extra Space Storage from $137.00 to $143.00 and gave the stock an "outperform" rating in a report on Monday, January 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Extra Space Storage in a research note on Tuesday, April 21st. Truist Financial lifted their price target on Extra Space Storage from $142.00 to $146.00 and gave the stock a "hold" rating in a research note on Tuesday, January 20th. Finally, JPMorgan Chase & Co. upped their price objective on Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a report on Monday, March 23rd. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $143.67.

Extra Space Storage Trading Up 1.1%

Extra Space Storage stock traded up $1.49 during mid-day trading on Tuesday, hitting $141.03. The company's stock had a trading volume of 2,524,805 shares, compared to its average volume of 1,331,063. The business has a 50 day moving average price of $140.79 and a 200-day moving average price of $138.51. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.39 and a quick ratio of 0.39. Extra Space Storage has a 12 month low of $125.71 and a 12 month high of $155.19. The stock has a market cap of $29.79 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26.

Extra Space Storage (NYSE:EXR - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.04 EPS for the quarter, topping the consensus estimate of $1.13 by $0.91. Extra Space Storage had a return on equity of 6.79% and a net margin of 28.84%.Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. As a group, analysts forecast that Extra Space Storage will post 8.24 EPS for the current year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, March 16th. Extra Space Storage's payout ratio is 140.87%.

Insider Buying and Selling at Extra Space Storage

In other news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $142.08, for a total transaction of $1,065,600.00. Following the completion of the sale, the chief executive officer owned 66,495 shares of the company's stock, valued at approximately $9,447,609.60. This represents a 10.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Extra Space Storage

A number of large investors have recently added to or reduced their stakes in EXR. NewEdge Advisors LLC raised its position in Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust's stock valued at $506,000 after purchasing an additional 291 shares during the last quarter. Empowered Funds LLC lifted its stake in Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust's stock worth $729,000 after acquiring an additional 661 shares during the period. Sivia Capital Partners LLC bought a new stake in Extra Space Storage in the second quarter valued at $457,000. First Trust Advisors LP increased its position in Extra Space Storage by 184.1% during the 2nd quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust's stock valued at $15,954,000 after purchasing an additional 70,115 shares during the period. Finally, Brown Advisory Inc. raised its holdings in Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock worth $653,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Company Profile

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.

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