Extra Space Storage Stock Price, News & Analysis (NYSE:EXR)

12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Extra Space Storage in the last year. There are currently 2 sell ratings, 6 hold ratings, 3 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" EXR shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in EXR, but not buy additional shares or sell existing shares.
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12 equities research analysts have issued twelve-month price objectives for Extra Space Storage's stock. Their EXR share price targets range from $115.00 to $172.00. On average, they predict the company's stock price to reach $142.64 in the next year. This suggests a possible upside of 10.1% from the stock's current price.
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Extra Space Storage's stock was trading at $147.18 at the start of the year. Since then, EXR stock has decreased by 12.0% and is now trading at $129.53.
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Extra Space Storage saw a decline in short interest during the month of November. As of November 15th, there was short interest totaling 5,790,000 shares, a decline of 7.5% from the October 31st total of 6,260,000 shares. Based on an average daily trading volume, of 1,370,000 shares, the days-to-cover ratio is presently 4.2 days.
View Extra Space Storage's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 28th 2024.
View our EXR earnings forecast.

Extra Space Storage Inc. (NYSE:EXR) issued its earnings results on Wednesday, February, 22nd. The real estate investment trust reported $1.52 earnings per share for the quarter, missing analysts' consensus estimates of $2.08 by $0.56. The real estate investment trust earned $506.70 million during the quarter, compared to analyst estimates of $433.39 million. Extra Space Storage had a net margin of 35.54% and a trailing twelve-month return on equity of 11.64%. The firm's quarterly revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS.
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Extra Space Storage announced a quarterly dividend on Wednesday, November 15th. Stockholders of record on Friday, December 15th will be given a dividend of $1.62 per share on Friday, December 29th. This represents a $6.48 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from the stock's previous quarterly dividend of $0.61.
Read our dividend analysis for EXR.

Extra Space Storage (NYSE:EXR) pays an annual dividend of $2.44 per share and currently has a dividend yield of 1.93%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 44.85%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, EXR will have a dividend payout ratio of 29.12% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for EXR.

ETFs with the largest weight of Extra Space Storage (NYSE:EXR) stock in their portfolio include Nuveen Short-Term REIT ETF (NURE), iShares Residential and Multisector Real Estate ETF (REZ), Principal Real Estate Active Opportunities ETF (BYRE), Pacer Industrial Real Estate ETF (INDS), Vesper U.S. Large Cap Short-Term Reversal Strategy ETF (UTRN), iShares Cohen & Steers REIT ETF (ICF), ALPS Active REIT ETF (REIT) and SPDR Dow Jones REIT ETF (RWR).

Extra Space Storage issued an update on its FY23 earnings guidance on Tuesday, November, 7th. The company provided EPS guidance of $8.05-8.20 for the period, compared to the consensus EPS estimate of $7.76.

556 employees have rated Extra Space Storage Chief Executive Officer Joe Margolis on Glassdoor.com. Joe Margolis has an approval rating of 84% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Extra Space Storage investors own include Home Depot (HD), Cisco Systems (CSCO), Intel (INTC), AT&T (T), NVIDIA (NVDA), Johnson & Johnson (JNJ), McDonald's (MCD), QUALCOMM (QCOM), Verizon Communications (VZ).

Extra Space Storage's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Principal Financial Group Inc. (3.08%), JPMorgan Chase & Co. (1.58%), Massachusetts Financial Services Co. MA (1.43%), Northern Trust Corp (1.29%), Daiwa Securities Group Inc. (1.19%) and Legal & General Group Plc (1.14%). Insiders that own company stock include Grace Kunde, Gwyn Goodson Mcneal, Joseph D Margolis, Joseph D Margolis, Joseph J Bonner, Kenneth M Woolley, Matthew T Herrington, P Scott Stubbs, Samrat Sondhi and Spencer Kirk.
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Shares of EXR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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