Q2 EPS Forecast for Extra Space Storage Decreased by Analyst

Extra Space Storage Inc. (NYSE:EXR - Free Report) - Research analysts at Zacks Research cut their Q2 2025 earnings estimates for shares of Extra Space Storage in a note issued to investors on Tuesday, May 20th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings of $2.03 per share for the quarter, down from their previous estimate of $2.06. 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 Q3 2025 earnings at $2.04 EPS, Q4 2025 earnings at $2.02 EPS, Q1 2026 earnings at $2.04 EPS, Q2 2026 earnings at $2.12 EPS, Q3 2026 earnings at $2.11 EPS, Q4 2026 earnings at $2.10 EPS, FY2026 earnings at $8.37 EPS, Q1 2027 earnings at $2.11 EPS and FY2027 earnings at $8.68 EPS.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.04. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same period in the prior year, the business posted $1.96 earnings per share. The firm's revenue for the quarter was up 2.6% compared to the same quarter last year.

A number of other equities analysts have also recently weighed in on EXR. Bank of America upped their price objective on shares of Extra Space Storage from $155.00 to $161.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Evercore ISI raised their target price on shares of Extra Space Storage from $144.00 to $149.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. Benchmark cut their target price on shares of Extra Space Storage from $61.00 to $55.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Scotiabank raised their target price on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Finally, Wall Street Zen raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Extra Space Storage presently has an average rating of "Moderate Buy" and an average price target of $158.46.

Extra Space Storage Trading Up 0.8%

Shares of EXR stock traded up $1.13 on Thursday, reaching $145.91. 829,242 shares of the stock were exchanged, compared to its average volume of 1,057,908. The stock has a market cap of $30.96 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 7.76 and a beta of 1.14. 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 firm has a 50 day moving average of $143.25 and a two-hundred day moving average of $151.46. Extra Space Storage has a 1-year low of $121.03 and a 1-year high of $184.87.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Monday, June 16th. Extra Space Storage's dividend payout ratio (DPR) is currently 150.35%.

Insider Activity at Extra Space Storage

In other news, Director Joseph J. Bonner sold 672 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the transaction, the director now directly owns 4,557 shares in the company, valued at approximately $679,448.70. This represents a 12.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction of $1,105,875.00. Following the completion of the transaction, the chief executive officer now owns 9,190 shares in the company, valued at $1,355,065.50. This represents a 44.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,392 shares of company stock valued at $1,392,315. Insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Extra Space Storage

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Extra Space Storage by 0.9% in the first quarter. Vanguard Group Inc. now owns 33,969,485 shares of the real estate investment trust's stock valued at $5,044,129,000 after purchasing an additional 295,556 shares in the last quarter. Cohen & Steers Inc. increased its position in Extra Space Storage by 5.9% in the 4th quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust's stock valued at $1,383,094,000 after acquiring an additional 516,941 shares during the period. Norges Bank acquired a new position in Extra Space Storage in the 4th quarter valued at approximately $938,647,000. JPMorgan Chase & Co. boosted its stake in shares of Extra Space Storage by 205.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,094,555 shares of the real estate investment trust's stock valued at $608,001,000 after purchasing an additional 2,755,265 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Extra Space Storage by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust's stock worth $469,229,000 after acquiring an additional 24,533 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.