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NYSE:EXR

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

$154.77
+3.48 (+2.30%)
(As of 06/12/2024 ET)
Today's Range
$154.12
$158.92
50-Day Range
$132.52
$154.77
52-Week Range
$101.19
$164.99
Volume
1.56 million shs
Average Volume
1.11 million shs
Market Capitalization
$32.77 billion
P/E Ratio
34.47
Dividend Yield
4.19%
Price Target
$151.83

Extra Space Storage MarketRank™ Stock Analysis

Analyst Rating
Hold
2.33 Rating Score
Upside/​Downside
1.9% Downside
$151.83 Price Target
Short Interest
Healthy
1.69% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-0.57
Upright™ Environmental Score
News Sentiment
0.99mentions of Extra Space Storage in the last 14 days
Based on 13 Articles This Week
Insider Trading
Selling Shares
$100,345 Sold Last Quarter
Proj. Earnings Growth
3.73%
From $8.05 to $8.35 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.

3.80 out of 5 stars

Finance Sector

326th out of 860 stocks

Real Estate Investment Trusts Industry

53rd out of 175 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 (NYSE:EXR) Price Target Cut to $160.00
Navigating 6 Analyst Ratings For Extra Space Storage
Extra Space Storage (EXR) Gets a Buy from Barclays
Q1 2024 Extra Space Storage Inc Earnings Call
Extra Space Storage: Q1 Earnings Snapshot
Extra Storage Space Q1 EPS Declines
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
6/12/2024
Ex-Dividend for 6/28 Dividend
6/14/2024
Dividend Payable
6/28/2024
Next Earnings (Estimated)
8/01/2024
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
$151.83
High Stock Price Target
$187.00
Low Stock Price Target
$119.00
Potential Upside/Downside
-1.9%
Consensus Rating
Hold
Rating Score (0-4)
2.33
Research Coverage
12 Analysts

Profitability

Net Income
$803.20 million
Pretax Margin
31.14%

Debt

Sales & Book Value

Annual Sales
$2.56 billion
Cash Flow
$6.73 per share
Book Value
$72.96 per share

Miscellaneous

Free Float
208,846,000
Market Cap
$32.77 billion
Optionable
Optionable
Beta
0.81

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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 over the past few quarters, indicating a strong financial performance.
  • The company has a solid track record of increasing dividends, providing investors with a reliable income stream.
  • Recent market trends show an increasing demand for self-storage facilities, which could positively impact Extra Space Storage Inc.'s business.
  • Extra Space Storage Inc.'s stock price has been steadily increasing, reflecting positive investor sentiment and potential for capital appreciation.
  • The company has a strong balance sheet with manageable debt levels, reducing financial risk for investors.

Cons

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

  • Self-storage industry is highly competitive, leading to potential pricing pressures and lower profit margins for Extra Space Storage Inc.
  • Interest rate hikes could increase borrowing costs for the company, impacting its profitability and cash flow.
  • Market volatility and economic uncertainties may affect consumer spending on storage services, impacting Extra Space Storage Inc.'s revenue.
  • Regulatory changes or legal issues in the real estate sector could pose risks to Extra Space Storage Inc.'s operations and financial performance.
  • Investing in real estate investment trusts (REITs) like Extra Space Storage Inc. involves market risks and fluctuations in property values that could affect investor returns.
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 Sunday, June 2, 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 year. 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 twelve-month target prices for Extra Space Storage's shares. Their EXR share price targets range from $119.00 to $187.00. On average, they expect the company's share price to reach $151.83 in the next twelve months. This suggests that the stock has a possible downside of 1.9%.
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 beginning of 2024. Since then, EXR stock has decreased by 3.5% and is now trading at $154.77.
View the best growth stocks for 2024 here
.

Are investors shorting Extra Space Storage?

Extra Space Storage saw a decrease in short interest in May. As of May 15th, there was short interest totaling 3,650,000 shares, a decrease of 8.1% from the April 30th total of 3,970,000 shares. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is presently 3.2 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 Thursday, August 1st 2024.
View our EXR earnings forecast
.

How were Extra Space Storage's earnings last quarter?

Extra Space Storage Inc. (NYSE:EXR) posted its earnings results on Tuesday, February, 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.03 by $1.01. The real estate investment trust earned $797.77 million during the quarter, compared to analysts' expectations of $778.05 million. Extra Space Storage had a trailing twelve-month return on equity of 6.76% and a net margin of 29.10%. The business's revenue for the quarter was up 57.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 earnings per share.
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 Friday, May 24th. Shareholders of record on Friday, June 14th will be given a dividend of $1.62 per share on Friday, June 28th. This represents a $6.48 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Friday, June 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 4.33%. EXR has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The dividend payout ratio is 144.32%. 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 77.60% 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, April, 30th. 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 8.030. 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 number of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (15.91%), Capital World Investors (7.67%), Principal Financial Group Inc. (3.35%), Capital International Investors (1.73%), Centersquare Investment Management LLC (1.20%) and Daiwa Securities Group Inc. (1.15%). Insiders that own company stock include 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 and Samrat Sondhi.
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 6/13/2024 by MarketBeat.com Staff

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