NYSE:EXR

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

$134.64
+1.36 (+1.02%)
(As of 04/24/2024 ET)
Today's Range
$131.02
$136.00
50-Day Range
$132.52
$152.42
52-Week Range
$101.19
$164.99
Volume
1.15 million shs
Average Volume
1.18 million shs
Market Capitalization
$28.49 billion
P/E Ratio
27.26
Dividend Yield
4.81%
Price Target
$150.17

Extra Space Storage MarketRank™ Stock Analysis

Analyst Rating
Hold
2.33 Rating Score
Upside/​Downside
11.5% Upside
$150.17 Price Target
Short Interest
Healthy
1.83% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-0.57
Upright™ Environmental Score
News Sentiment
1.07mentions of Extra Space Storage in the last 14 days
Based on 9 Articles This Week
Insider Trading
Selling Shares
$514,819 Sold Last Quarter
Proj. Earnings Growth
4.35%
From $8.05 to $8.40 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.89 out of 5 stars

Finance Sector

39th out of 855 stocks

Real Estate Investment Trusts Industry

6th out of 180 stocks

EXR stock logo

About Extra Space Storage Stock (NYSE:EXR)

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, D.C. 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. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States.

EXR Stock Price History

EXR Stock News Headlines

Extra Space Storage (EXR) to Release Earnings on Tuesday
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Revenues exploding, a $18.70 price target, and highly lucrative addressable markets make this one you cannot ignore!
Wells Fargo Keeps Their Buy Rating on Extra Space Storage (EXR)
16 Biggest Self Storage Companies in the US
Here’s Why Extra Space Storage (EXR) Rose in Q4
P/E Ratio Insights for Extra Space Storage
Who Needs 'Extra Space' In Their REIT Portfolio?
EXR Quantitative Stock Analysis
Extra Space Storage Is A Buy (Technical Analysis)
EXR Mar 2024 90.000 call
Q4 2023 Extra Space Storage Inc Earnings Call
See More Headlines
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Company Calendar

Last Earnings
2/27/2024
Ex-Dividend for 3/29 Dividend
3/14/2024
Dividend Payable
3/29/2024
Today
4/24/2024
Next Earnings (Confirmed)
4/30/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
Real estate investment trusts
Sub-Industry
Specialized REITs
CUSIP
30225T10
Employees
7,618
Year Founded
1977

Price Target and Rating

Average Stock Price Target
$150.17
High Stock Price Target
$187.00
Low Stock Price Target
$119.00
Potential Upside/Downside
+10.6%
Consensus Rating
Hold
Rating Score (0-4)
2.33
Research Coverage
12 Analysts

Profitability

Net Income
$803.20 million
Pretax Margin
34.06%

Debt

Sales & Book Value

Annual Sales
$2.56 billion
Cash Flow
$6.66 per share
Book Value
$72.96 per share

Miscellaneous

Free Float
208,742,000
Market Cap
$28.72 billion
Optionable
Optionable
Beta
0.74

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Should I Buy Extra Space Storage Stock? EXR Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Extra Space Storage Inc.:

  • Extra Space Storage Inc. has shown consistent revenue growth, with a 57.4% increase in revenue compared to the same quarter last year, indicating a strong financial performance.
  • The company is the largest operator of self-storage properties in the United States, providing a stable and established presence in the market.
  • Extra Space Storage Inc. has a market capitalization of $29.91 billion, reflecting its significant size and stability in the real estate investment trust sector.
  • The stock has a relatively low beta of 0.74, suggesting lower volatility compared to the overall market, which can be attractive to risk-averse investors.
  • With a P/E ratio of 28.62, Extra Space Storage Inc. may be considered undervalued by some investors, presenting a potential opportunity for capital appreciation.

Cons

Investors should be bearish about investing in Extra Space Storage Inc. for these reasons:

  • Extra Space Storage Inc. reported an EPS of $1.02 for the quarter, missing analysts' consensus estimates of $2.03 by a significant margin, indicating potential challenges in meeting earnings expectations.
  • The company's quick ratio and current ratio of 0.30 each suggest a relatively low liquidity position, which may pose risks during economic downturns or unforeseen financial challenges.
  • Extra Space Storage Inc. has a debt-to-equity ratio of 0.71, indicating a moderate level of debt that investors should consider in relation to the company's financial health and risk profile.
  • The stock price of Extra Space Storage Inc. has experienced fluctuations, with a 52-week low of $101.19 and a high of $165.85, highlighting potential price volatility that may impact investor returns.
  • Despite revenue growth, the company's net margin of 31.81% and return on equity of 8.34% may raise concerns about profitability and efficiency in generating returns for shareholders.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, April 12, 2024. Please send any questions or comments about these Extra Space Storage pros and cons to contact@marketbeat.com.

EXR Stock Analysis - Frequently Asked Questions

Should I buy or sell Extra Space Storage stock right now?

12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Extra Space Storage in the last twelve months. There are currently 1 sell rating, 6 hold ratings and 5 buy ratings 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.
View EXR analyst ratings
or view top-rated stocks.

What is Extra Space Storage's stock price target for 2024?

12 Wall Street research analysts have issued 12 month price objectives for Extra Space Storage's stock. Their EXR share price targets range from $119.00 to $187.00. On average, they expect the company's share price to reach $150.17 in the next year. This suggests a possible upside of 11.5% from the stock's current price.
View analysts price targets for EXR
or view top-rated stocks among Wall Street analysts.

How have EXR shares performed in 2024?

Extra Space Storage's stock was trading at $160.33 at the start of the year. Since then, EXR shares have decreased by 16.0% and is now trading at $134.64.
View the best growth stocks for 2024 here
.

Are investors shorting Extra Space Storage?

Extra Space Storage saw a drop in short interest in March. As of March 31st, there was short interest totaling 3,880,000 shares, a drop of 25.1% from the March 15th total of 5,180,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is presently 3.3 days.
View Extra Space Storage's Short Interest
.

When is Extra Space Storage's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 30th 2024.
View our EXR earnings forecast
.

How can I listen to Extra Space Storage's earnings call?

Extra Space Storage will be holding an earnings conference call on Wednesday, May 1st at 1:00 PM Eastern. Interested parties can register for or listen to the call using this link.

How were Extra Space Storage's earnings last quarter?

Extra Space Storage Inc. (NYSE:EXR) announced its earnings results on Tuesday, February, 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $2.03 by $1.01. The real estate investment trust had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a trailing twelve-month return on equity of 8.34% and a net margin of 31.81%. Extra Space Storage's revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.09 EPS.
Read the conference call transcript
.

How often does Extra Space Storage pay dividends? What is the dividend yield for Extra Space Storage?

Extra Space Storage announced a quarterly dividend on Thursday, February 22nd. Stockholders of record on Friday, March 15th will be given a dividend of $1.62 per share on Friday, March 29th. This represents a $6.48 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Thursday, March 14th.
Read our dividend analysis for EXR
.

Is Extra Space Storage a good dividend stock?

Extra Space Storage (NYSE:EXR) pays an annual dividend of $6.48 per share and currently has a dividend yield of 4.88%. EXR has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 131.17%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, EXR will have a dividend payout ratio of 77.14% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for EXR.

What guidance has Extra Space Storage issued on next quarter's earnings?

Extra Space Storage issued an update on its FY 2024 earnings guidance on Tuesday, February, 27th. The company provided earnings per share (EPS) guidance of 7.850-8.150 for the period, compared to the consensus earnings per share estimate of 8.310. The company issued revenue guidance of -.

What is Joe Margolis' approval rating as Extra Space Storage's CEO?

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.

What other stocks do shareholders of Extra Space Storage own?

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).

Who are Extra Space Storage's major shareholders?

Extra Space Storage's stock is owned by a variety of retail and institutional investors. Top institutional investors include Sumitomo Mitsui Trust Holdings Inc. (0.43%), Vaughan Nelson Investment Management L.P. (0.13%), Hazelview Securities Inc. (0.10%), Raymond James & Associates (0.08%), State of Alaska Department of Revenue (0.06%) and Gradient Investments LLC (0.06%). Insiders that own company stock include Grace Kunde, Gwyn Goodson Mcneal, Joseph D Margolis, Joseph D Margolis, Joseph J Bonner, Joseph Saffire, Kenneth M Woolley, Matthew T Herrington, Matthew T Herrington, P Scott Stubbs, Samrat Sondhi and Spencer Kirk.
View institutional ownership trends
.

How do I buy shares of Extra Space Storage?

Shares of EXR stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:EXR) was last updated on 4/24/2024 by MarketBeat.com Staff

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