Extra Space Storage - EXR Stock Forecast, Price & News

10 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, 5 hold ratings and 3 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.
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10 analysts have issued 12 month target prices for Extra Space Storage's stock. Their EXR share price forecasts range from $145.00 to $197.00. On average, they expect the company's share price to reach $170.89 in the next year. This suggests a possible upside of 7.7% 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 shares have increased by 7.8% and is now trading at $158.66.
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Extra Space Storage saw a increase in short interest in February. As of February 28th, there was short interest totaling 4,730,000 shares, an increase of 5.3% from the February 13th total of 4,490,000 shares. Based on an average trading volume of 1,050,000 shares, the days-to-cover ratio is currently 4.5 days. Approximately 3.6% of the company's stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 2nd 2023.
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Extra Space Storage Inc. (NYSE:EXR) released its quarterly earnings data on Wednesday, February, 22nd. The real estate investment trust reported $1.52 EPS for the quarter, missing analysts' consensus estimates of $2.08 by $0.56. The real estate investment trust had revenue of $506.70 million for the quarter, compared to analyst estimates of $433.39 million. Extra Space Storage had a trailing twelve-month return on equity of 22.01% and a net margin of 45.52%. 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 earned $1.91 earnings per share.
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Extra Space Storage announced a quarterly dividend on Thursday, February 16th. Stockholders of record on Wednesday, March 15th will be paid a dividend of $1.62 per share on Friday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Tuesday, March 14th. This is an increase from the stock's previous quarterly dividend of $1.50.
Read our dividend analysis for EXR.

ETFs with the largest weight of Extra Space Storage (NYSE:EXR) stock in their portfolio include Principal Real Estate Active Opportunities ETF (BYRE), Pacer Industrial Real Estate ETF (INDS), iShares Residential and Multisector Real Estate ETF (REZ), Nuveen Short-Term REIT ETF (NURE), Invesco S&P 500 Equal Weight Real Estate ETF (EWRE), Fidelity Real Estate Investment ETF (FPRO), iShares Cohen & Steers REIT ETF (ICF) and USCF Dividend Income Fund (UDI).

Extra Space Storage (NYSE:EXR) pays an annual dividend of $6.48 per share and currently has a dividend yield of 4.06%. EXR has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 14 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 101.09%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, EXR will have a dividend payout ratio of 72.32% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for EXR.

Extra Space Storage issued an update on its FY 2023 earnings guidance on Wednesday, February, 22nd. The company provided earnings per share guidance of $8.30-$8.60 for the period, compared to the consensus estimate of $8.68. The company issued revenue guidance of -.

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), Honeywell International (HON) and Verizon Communications (VZ).

Extra Space Storage trades on the New York Stock Exchange (NYSE) under the ticker symbol "EXR."

Extra Space Storage's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Principal Financial Group Inc. (3.50%), Geode Capital Management LLC (2.34%), Norges Bank (1.93%), Dimensional Fund Advisors LP (1.40%), Legal & General Group Plc (1.20%) and Daiwa Securities Group Inc. (1.08%). Insiders that own company stock include Grace Kunde, Gwyn Goodson Mcneal, James Overturf, Joseph D Margolis, Joseph D Margolis, Kenneth M Woolley, Matthew T Herrington, P Scott Stubbs, Samrat Sondhi, Spencer Kirk and William N Springer.
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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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One share of EXR stock can currently be purchased for approximately $158.66.

Extra Space Storage (NYSE:EXR) has a market capitalization of $21.42 billion and generates $1.92 billion in revenue each year. The real estate investment trust earns $860.69 million in net income (profit) each year or $6.41 on an earnings per share basis.

The company employs 4,781 workers across the globe.

Extra Space Storage's mailing address is 2795 EAST COTTONWOOD PARKWAY SUITE 300, SALT LAKE CITY UT, 84121. The official website for the company is www.extraspace.com. The real estate investment trust can be reached via phone at (801) 365-4600, via email at investorrelations@extraspace.com, or via fax at 801-365-4801.