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, 2017, the Company owned and/or operated 1,483 self-storage stores in 39 states, Washington, D.C. and Puerto Rico. The Company's stores comprise approximately 1,020,000 units and approximately 112 million square feet of rentable space. 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. The Company is the second largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the United States.
Industry, Sector and Symbol
Industry Real estate investment trusts
Sub-IndustrySpecialized REITs
SectorFinance
SymbolNYSE:EXR
CUSIP30225T10
Phone801-562-5556
Debt
Debt-to-Equity Ratio1.66
Current Ratio0.50
Quick Ratio0.50
Price-To-Earnings
Trailing P/E Ratio22.66
Forward P/E Ratio21.49
P/E Growth4.32
Sales & Book Value
Annual Sales$1.11 billion
Price / Sales11.33
Cash Flow$5.3457 per share
Price / Cash18.57
Book Value$21.62 per share
Price / Book4.59
Profitability
EPS (Most Recent Fiscal Year)$4.38
Net Income$479.01 million
Net Margins44.28%
Return on Equity18.85%
Return on Assets6.87%
Miscellaneous
Employees3,380
Outstanding Shares126,110,000
Extra Space Storage (NYSE:EXR) Frequently Asked Questions
What is Extra Space Storage's stock symbol?
Extra Space Storage trades on the New York Stock Exchange (NYSE) under the ticker symbol "EXR."
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, May 24th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.86 per share on Friday, June 29th. This represents a $3.44 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, June 14th. This is a boost from Extra Space Storage's previous quarterly dividend of $0.78. View Extra Space Storage's Dividend History.
How will Extra Space Storage's stock buyback program work?
Extra Space Storage declared that its board has initiated a share buyback program on Tuesday, November 14th 2017, which permits the company to buyback $400,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.
How were Extra Space Storage's earnings last quarter?
Extra Space Storage (NYSE:EXR) released its earnings results on Tuesday, May, 1st. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the Zacks' consensus estimate of $1.09 by $0.39. The real estate investment trust earned $247.88 million during the quarter, compared to the consensus estimate of $248.26 million. Extra Space Storage had a return on equity of 18.85% and a net margin of 44.28%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. View Extra Space Storage's Earnings History.
When is Extra Space Storage's next earnings date?
What guidance has Extra Space Storage issued on next quarter's earnings?
Extra Space Storage updated its FY18 earnings guidance on Tuesday, May, 1st. The company provided EPS guidance of $4.57-$4.66 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.60. Extra Space Storage also updated its Q2 guidance to $1.12-$1.14 EPS.
What price target have analysts set for EXR?
11 equities research analysts have issued twelve-month price objectives for Extra Space Storage's stock. Their predictions range from $80.00 to $105.00. On average, they expect Extra Space Storage's stock price to reach $89.7273 in the next year. View Analyst Ratings for Extra Space Storage.
What are Wall Street analysts saying about Extra Space Storage stock?
Here are some recent quotes from research analysts about Extra Space Storage stock:
- 1. According to Zacks Investment Research, "Shares of Extra Space Storage have outperformed the industry in the past three months. Further, the stock has seen the Zacks Consensus Estimate for 2018 funds from operations (FFO) per share being revised upward in two months' time. The company recently agreed to a private placement of senior unsecured notes. This is expected to improve diversity of the company’s capital sources and ladder its debt maturities. The company also announced a 10.3% sequential hike in quarterly dividends. Further, focus on expansion of its geographical footprint through accretive acquisitions and third-party management platforms bode well for Extra Space Storage. Moreover, it enjoys presence in key cities and opts for strategic joint ventures to drive long-term profitability. However, many of the company’s markets are witnessing an escalating supply of new self-storage space, and this is anticipated to fuel competition. Rate Hike adds to its woes." (6/20/2018)
- 2. Cantor Fitzgerald analysts commented, "Cantor Estimates. We are raising our ’17 and ’18 core FFO/sh. estimates to $4.34 and $4.52 from $4.31 and $4.51, respectively. Our ’17 and ’18 FFO/sh. estimates are unchanged at $4.27 and $4.48. Our NAV/sh. estimate is $76.90 from $73.60. Our 2017 and 2018 SSNOI estimates are 6.2% and 3.7% from 5.5% and 3.0% prior. EXR ’17 SS revenue growth outlook is 4.75%, SS expense guidance +1.5%, leading to SSNOI growth guidance of 6.1% MP." (11/9/2017)
Who are some of Extra Space Storage's key competitors?
Some companies that are related to Extra Space Storage include CROWN CASTLE In/SH SH (CCI), Public Storage (PSA), Prologis (PLD), Equinix (EQIX), Weyerhaeuser (WY), AvalonBay Communities (AVB), Equity Residential (EQR), DIGITAL Rlty Tr/SH SH (DLR), Welltower (WELL), UNIBAIL-RODAMCO/ADR (UNRDY), GGP (GGP), Ventas (VTR), Boston Properties (BXP), SBA Communications (SBAC) and Host Hotels and Resorts (HST).
Who are Extra Space Storage's key executives?
Extra Space Storage's management team includes the folowing people:
- Mr. Joseph D. Margolis J.D., CEO & Director (Age 57)
- Mr. P. Scott Stubbs, Exec. VP & CFO (Age 50)
- Mr. Samrat Sondhi, Exec. VP & COO (Age 43)
- Mr. Gwyn Goodson McNeal, Exec. VP, Chief Legal Officer & Sec. (Age 49)
- Mr. James L. Overturf, Exec. VP & Chief Marketing Officer (Age 51)
Has Extra Space Storage been receiving favorable news coverage?
Media coverage about EXR stock has been trending somewhat negative on Sunday, Accern reports. The research firm rates the sentiment of news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Extra Space Storage earned a coverage optimism score of -0.18 on Accern's scale. They also assigned media headlines about the real estate investment trust an impact score of 46.38 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company's share price in the near term.
Who are Extra Space Storage's major shareholders?
Extra Space Storage's stock is owned by a variety of of institutional and retail investors. Top institutional shareholders include BLACKROCK INC. (10.00%), BlackRock Inc. (9.96%), Daiwa Securities Group Inc. (2.64%), Principal Financial Group Inc. (2.26%), Northern Trust Corp (1.63%) and Dimensional Fund Advisors LP (1.52%). Company insiders that own Extra Space Storage stock include Dennis J Letham, Diane Olmstead, Grace Kunde, Gwyn Goodson Mcneal, James Overturf, K Fred Skousen, Kenneth M Woolley, P Scott Stubbs, Samrat Sondhi and Spencer Kirk. View Institutional Ownership Trends for Extra Space Storage.
Which institutional investors are selling Extra Space Storage stock?
EXR stock was sold by a variety of institutional investors in the last quarter, including JPMorgan Chase & Co., Barings LLC, Wells Fargo & Company MN, Neuberger Berman Group LLC, Eaton Vance Management, Barclays PLC, Allianz Asset Management GmbH and Allianz Asset Management GmbH. Company insiders that have sold Extra Space Storage company stock in the last year include Diane Olmstead, Grace Kunde, Gwyn Goodson Mcneal, James Overturf, K Fred Skousen, Kenneth M Woolley, P Scott Stubbs, Samrat Sondhi and Spencer Kirk. View Insider Buying and Selling for Extra Space Storage.
Which institutional investors are buying Extra Space Storage stock?
EXR stock was acquired by a variety of institutional investors in the last quarter, including Centersquare Investment Management LLC, Daiwa Securities Group Inc., Heitman Real Estate Securities LLC, Massachusetts Financial Services Co. MA, Millennium Management LLC, Prudential Financial Inc., Nuveen Asset Management LLC and Teacher Retirement System of Texas. View Insider Buying and Selling for Extra Space Storage.
How do I buy shares of Extra Space Storage?
Shares of EXR can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Extra Space Storage's stock price today?
One share of EXR stock can currently be purchased for approximately $99.27.
How big of a company is Extra Space Storage?
Extra Space Storage has a market capitalization of $12.57 billion and generates $1.11 billion in revenue each year. The real estate investment trust earns $479.01 million in net income (profit) each year or $4.38 on an earnings per share basis. Extra Space Storage employs 3,380 workers across the globe.
How can I contact Extra Space Storage?
Extra Space Storage's mailing address is 2795 COTTONWOOD PARKWAY SUITE 400, SALT LAKE CITY UT, 84121. The real estate investment trust can be reached via phone at 801-562-5556.
MarketBeat Community Rating for Extra Space Storage (EXR)
MarketBeat's community ratings are surveys of what our community members think about Extra Space Storage and other stocks. Vote "Outperform" if you believe EXR will outperform the S&P 500 over the long term. Vote "Underperform" if you believe EXR will underperform the S&P 500 over the long term. You may vote once every thirty days.
