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

$138.12
-0.56 (-0.40%)
(As of 04:10 PM ET)
Compare
Today's Range
$136.28
▼
$138.50
50-Day Range
$103.08
▼
$138.68
52-Week Range
$101.19
▼
$170.30
Volume
842,361 shs
Average Volume
1.46 million shs
Market Capitalization
$29.18 billion
P/E Ratio
25.39
Dividend Yield
1.77%
Price Target
$142.64
Stock AnalysisAnalyst ForecastsChartCompetitorsDividendEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestSocial MediaSustainability

Extra Space Storage MarketRank™ Stock Analysis

Analyst Rating
Hold
2.25 Rating Score
Upside/​Downside
3.3% Upside
$142.64 Price Target
Short Interest
Healthy
2.74% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.57
Upright™ Environmental Score
News Sentiment
0.11mentions of Extra Space Storage in the last 14 days
Based on 14 Articles This Week
Insider Trading
Acquiring Shares
$496,482 Bought Last Quarter
Proj. Earnings Growth
2.46%
From $8.13 to $8.33 Per Share

Overall MarketRank™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.68 out of 5 stars

Finance Sector

141st out of 821 stocks

Real Estate Investment Trusts Industry

29th out of 177 stocks

See Top Rated MarketRank™ Stocks Here

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 September 30, 2023, the Company owned and/or operated 3,651 self-storage stores in 42 states and Washington, D.C. The Company's stores comprise approximately 2.5 million units and approximately 279.0 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

December 11, 2023 | americanbankingnews.com
Extra Space Storage Inc. (NYSE:EXR) Given Average Rating of "Hold" by Analysts
December 7, 2023 | finance.yahoo.com
Why Is Extra Space Storage (EXR) Up 15.3% Since Last Earnings Report?
December 11, 2023 | DTI Trader (Ad)
All the trading advice you’ve ever received boils down to this
All the trading advice you’ve ever received boils down to one goal and one goal only: finding a reliable edge in the markets. If you can do that, grab hold of it and never let go. Because once you have that edge, and you can count on it, you never need to do anything else.
December 7, 2023 | benzinga.com
(EXR) - Analyzing Extra Space Storage's Short Interest
December 5, 2023 | americanbankingnews.com
Extra Space Storage (NYSE:EXR) Upgraded to "Hold" by StockNews.com
December 5, 2023 | americanbankingnews.com
FY2023 Earnings Forecast for Extra Space Storage Inc. (NYSE:EXR) Issued By Zacks Research
December 4, 2023 | americanbankingnews.com
Equities Analysts Set Expectations for Extra Space Storage Inc.'s FY2023 Earnings (NYSE:EXR)
December 1, 2023 | forbes.com
Up 25% In The Last One Month, Does Extra Space Storage Stock Have More Room To Run?
December 11, 2023 | DTI Trader (Ad)
All the trading advice you’ve ever received boils down to this
All the trading advice you’ve ever received boils down to one goal and one goal only: finding a reliable edge in the markets. If you can do that, grab hold of it and never let go. Because once you have that edge, and you can count on it, you never need to do anything else.
November 27, 2023 | finance.yahoo.com
Extra Space Announces Pricing of $600 Million of 5.900% Senior Notes due 2031
November 15, 2023 | bizjournals.com
DXD Capital breaks ground on self-storage facility in Northeast Heights
November 15, 2023 | finance.yahoo.com
Extra Space Storage Inc. Announces 4th Quarter 2023 Dividend
November 15, 2023 | seekingalpha.com
Extra Space Storage: I'm Hoarding The Dividends
November 10, 2023 | seekingalpha.com
I'm Not Done Buying 5.5%-Yielding Extra Space Storage
November 10, 2023 | finance.yahoo.com
Decoding Extra Space Storage Inc (EXR): A Strategic SWOT Insight
November 9, 2023 | finance.yahoo.com
Q3 2023 Extra Space Storage Inc Earnings Call
November 8, 2023 | seekingalpha.com
Extra Space Storage, Inc. (EXR) Q3 2023 Earnings Call Transcript
November 8, 2023 | finance.yahoo.com
Is the Slump in Self-Storage Stocks Over?
November 8, 2023 | seekingalpha.com
Extra Space Storage, Franklin Street among real estate gainers; Douglas Elliman in losers
November 8, 2023 | msn.com
Extra Space Storage's (EXR) Q3 FFO Lags, '23 View Revised
November 7, 2023 | markets.businessinsider.com
Extra Space Storage Q3 Profit Down
November 7, 2023 | finance.yahoo.com
Extra Space Storage (EXR) Reports Q3 Earnings: What Key Metrics Have to Say
November 6, 2023 | markets.businessinsider.com
Here's what Wall Street expects from Extra Space Storage's earnings report
November 6, 2023 | msn.com
Extra Space Storage (EXR) Surges 3.5%: Is This an Indication of Further Gains?
November 2, 2023 | finance.yahoo.com
Clipper Realty Inc. (CLPR) Lags Q3 FFO and Revenue Estimates
October 31, 2023 | finance.yahoo.com
Public Storage (PSA) Q3 FFO Beats Estimates, View Raised
October 30, 2023 | marketwatch.com
: Extra Space Storage downgraded to neutral from buy at BofA Securities
See More Headlines
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Company Calendar

Last Earnings
2/22/2023
Ex-Dividend for 9/29 Dividend
9/14/2023
Dividend Payable
9/29/2023
Today
12/11/2023
Ex-Dividend for 12/29 Dividend
12/14/2023
Dividend Payable
12/29/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/28/2024
Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange
NYSE
Industry
Real estate investment trusts
Sub-Industry
Specialized REITs
Sector
Finance
Current Symbol
NYSE:EXR
CUSIP
30225T10
CIK
1289490
Web
www.extraspace.com
Phone
(801) 365-4600
Fax
801-365-4801
Employees
4,781
Year Founded
1977

Price Target and Rating

Average Stock Price Target
$142.64
High Stock Price Target
$172.00
Low Stock Price Target
$115.00
Potential Upside/Downside
+4.4%
Consensus Rating
Hold
Rating Score (0-4)
2.25
Research Coverage
12 Analysts

Profitability

EPS (Most Recent Fiscal Year)
$5.44
Trailing P/E Ratio
25.12
Forward P/E Ratio
16.81
P/E Growth
14.06
Net Income
$860.69 million
Net Margins
35.54%
Pretax Margin
38.13%
Return on Equity
11.64%
Return on Assets
5.02%

Debt

Debt-to-Equity Ratio
0.70
Current Ratio
0.50
Quick Ratio
0.50

Sales & Book Value

Annual Sales
$1.92 billion
Price / Sales
15.01
Cash Flow
$9.07 per share
Price / Cash Flow
15.07
Book Value
$30.45 per share
Price / Book
4.49

Miscellaneous

Outstanding Shares
211,280,000
Free Float
208,003,000
Market Cap
$28.88 billion
Optionable
Optionable
Beta
0.71

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

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Extra Space Storage was last updated on Tuesday, November 28, 2023 at 9:53 PM.

Pros

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

  • Strong Market Position: Extra Space Storage Inc. is the largest operator of self-storage properties in the United States. This gives the company a significant competitive advantage and potential for continued growth in the industry.
  • Wide Selection of Storage Units: 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. This diverse range of offerings attracts a broad customer base and increases revenue potential.
  • Membership in S&P 500: Extra Space Storage Inc. is a member of the S&P 500, which indicates its stability and credibility as a company. This can provide reassurance to investors and potentially attract institutional investors.
  • Real Estate Investment Trust (REIT): Extra Space Storage Inc. is a self-administered and self-managed REIT. Investing in a REIT provides investors with the opportunity to benefit from real estate ownership without the need for direct property management. REITs also offer potential tax advantages and regular dividend payments.
  • Continued Expansion: As of September 30, 2023, Extra Space Storage Inc. owned and/or operated 3,651 self-storage stores in 42 states and Washington, D.C. This indicates the company's commitment to expansion and potential for further growth in the future.

Cons

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

  • Real Estate Market Volatility: The performance of Extra Space Storage Inc. is closely tied to the real estate market. Any downturn or instability in the market could negatively impact the company's financial performance and stock value.
  • Competition in the Industry: While Extra Space Storage Inc. is the largest operator of self-storage properties in the United States, it faces competition from other companies in the industry. Increased competition could potentially affect the company's market share and profitability.
  • Dependence on Economic Conditions: The demand for self-storage units is influenced by economic conditions. During economic downturns, individuals and businesses may reduce their need for storage space, which could impact Extra Space Storage Inc.'s revenue and profitability.
  • Interest Rate Sensitivity: As a REIT, Extra Space Storage Inc. is sensitive to changes in interest rates. Rising interest rates can increase borrowing costs and potentially impact the company's profitability.
  • Regulatory and Legal Risks: The self-storage industry is subject to various regulations and legal requirements. Changes in regulations or legal challenges could create additional costs and uncertainties for Extra Space Storage Inc.














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 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.
View EXR analyst ratings or view top-rated stocks.

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

12 brokerages have issued 12-month price objectives for Extra Space Storage's stock. Their EXR share price targets range from $115.00 to $172.00. On average, they anticipate the company's stock price to reach $142.64 in the next twelve months. This suggests a possible upside of 3.3% 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 2023?

Extra Space Storage's stock was trading at $147.18 on January 1st, 2023. Since then, EXR stock has decreased by 6.2% and is now trading at $138.12.
View the best growth stocks for 2023 here.

Are investors shorting Extra Space Storage?

Extra Space Storage saw a drop in short interest in the month of November. As of November 15th, there was short interest totaling 5,790,000 shares, a drop 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 short-interest ratio is currently 4.2 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 Wednesday, February 28th 2024.
View our EXR earnings forecast.

How were Extra Space Storage's earnings last quarter?

Extra Space Storage Inc. (NYSE:EXR) released 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 the consensus estimate of $433.39 million. Extra Space Storage had a trailing twelve-month return on equity of 11.64% and a net margin of 35.54%. Extra Space Storage's revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 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 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 yield of 4.69%. The ex-dividend date 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.

Is Extra Space Storage a good dividend stock?

Extra Space Storage (NYSE:EXR) pays an annual dividend of $2.44 per share and currently has a dividend yield of 1.76%. 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 29.29% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for EXR.

What ETFs hold Extra Space Storage's stock?

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).

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

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

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 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.
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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NYSE:EXR) was last updated on 12/11/2023 by MarketBeat.com Staff

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