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Extra Space Storage (NYSE:EXR) Updates FY 2025 Earnings Guidance

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Key Points

  • Extra Space Storage revised its FY 2025 earnings guidance, projecting EPS between 8.050 and 8.25, slightly lower than the consensus estimate of 8.198.
  • The company's stock experienced a 1.5% decline, trading at $149.61, with recent trading volume surpassing the average.
  • Extra Space Storage announced a quarterly dividend of $1.62, yielding 4.33%, though the dividend payout ratio is currently high at 150.35%.
  • Five stocks we like better than Extra Space Storage.

Extra Space Storage (NYSE:EXR - Get Free Report) issued an update on its FY 2025 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 8.050-8.25 for the period, compared to the consensus estimate of 8.198. The company issued revenue guidance of -.

Extra Space Storage Trading Up 4.2%

Shares of EXR stock traded up $5.70 during trading hours on Friday, reaching $140.06. The company's stock had a trading volume of 2,060,090 shares, compared to its average volume of 1,194,105. The stock has a market capitalization of $29.72 billion, a P/E ratio of 30.35, a P/E/G ratio of 3.62 and a beta of 1.10. Extra Space Storage has a one year low of $121.03 and a one year high of $184.87. The firm's fifty day simple moving average is $148.91 and its 200 day simple moving average is $148.39. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.05 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.01). The business had revenue of $841.62 million during the quarter, compared to the consensus estimate of $719.43 million. Extra Space Storage had a return on equity of 6.67% and a net margin of 29.51%. Extra Space Storage's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.06 earnings per share. Equities research analysts expect that Extra Space Storage will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is currently 150.35%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EXR. Wells Fargo & Company dropped their price target on Extra Space Storage from $165.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. BNP Paribas Exane assumed coverage on Extra Space Storage in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $156.00 price target for the company. Evercore ISI boosted their price target on Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a research note on Thursday, May 1st. Wall Street Zen upgraded Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on Extra Space Storage from $160.00 to $162.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $157.69.

Check Out Our Latest Research Report on Extra Space Storage

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the completion of the transaction, the chief executive officer directly owned 27,260 shares of the company's stock, valued at approximately $4,098,541. This represents a 21.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On Extra Space Storage

A hedge fund recently raised its stake in Extra Space Storage stock. NewEdge Advisors LLC raised its stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,409 shares of the real estate investment trust's stock after purchasing an additional 291 shares during the period. NewEdge Advisors LLC's holdings in Extra Space Storage were worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 99.11% of the stock is owned by institutional investors.

About Extra Space Storage

(Get Free Report)

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.

Read More

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

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