Extra Space Storage Company Profile (NYSE:EXR)

About Extra Space Storage (NYSE:EXR)

Extra Space Storage logoExtra Space Storage Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development. The Company's rental operations activities include rental operations of stores in which it has an ownership interest. The Tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in its stores. The Company's property management, acquisition and development activities include managing, acquiring, developing and selling stores. The Company's interest in its stores is held through its operating partnership, Extra Space Storage LP (the Operating Partnership). Its primary assets are general partner and limited partner interests in the Operating Partnership.

Industry, Sector and Symbol:
  • Sector: Finance
  • Industry: Self-Storage REITs
  • Sub-Industry: Specialized REITs
  • Symbol: NYSE:EXR
  • CUSIP: 30225T10
  • Web: www.extraspace.com
Capitalization:
  • Market Cap: $10.3 billion
  • Outstanding Shares: 126,000,000
Average Prices:
  • 50 Day Moving Avg: $79.93
  • 200 Day Moving Avg: $77.66
  • 52 Week Range: $68.09 - $83.23
P/E:
  • Trailing P/E Ratio: 27.95
  • Foreward P/E Ratio: 28.00
  • P/E Growth: 4.93
Sales & Book Value:
  • Annual Revenue: $1.07 billion
  • Price / Sales: 9.63
  • Book Value: $17.64 per share
  • Price / Book: 4.64
Dividend:
  • Annual Dividend: $3.12
  • Dividend Yield: 3.8%
Profitability:
  • EBITDA: $705.23 million
  • Net Margins: 36.35%
  • Return on Equity: 15.20%
  • Return on Assets: 5.60%
Debt:
  • Debt-to-Equity Ratio: 1.66%
  • Current Ratio: 0.57%
  • Quick Ratio: 0.57%
Misc:
  • Average Volume: 1.01 million shs.
  • Beta: 0.36
  • Short Ratio: 14.02
 

Frequently Asked Questions for Extra Space Storage (NYSE:EXR)

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 Monday, August 28th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.78 per share on Friday, September 29th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Thursday, September 14th. View Extra Space Storage's Dividend History.

How were Extra Space Storage's earnings last quarter?

Extra Space Storage Inc (NYSE:EXR) posted its earnings results on Tuesday, August, 1st. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.05 by $0.04. The firm earned $276 million during the quarter, compared to the consensus estimate of $239.89 million. Extra Space Storage had a return on equity of 15.20% and a net margin of 36.35%. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. View Extra Space Storage's Earnings History.

When will Extra Space Storage make its next earnings announcement?

Extra Space Storage is scheduled to release their next quarterly earnings announcement on Wednesday, November, 1st 2017. View Earnings Estimates for Extra Space Storage.

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

Extra Space Storage issued an update on its FY17 earnings guidance on Tuesday, August, 1st. The company provided earnings per share (EPS) guidance of $4.25 to $4.32 for the period, compared to the Thomson Reuters consensus estimate of $4.25.

Where is Extra Space Storage's stock going? Where will Extra Space Storage's stock price be in 2017?

10 analysts have issued 12 month target prices for Extra Space Storage's shares. Their forecasts range from $77.00 to $95.00. On average, they expect Extra Space Storage's share price to reach $81.63 in the next twelve months. View Analyst Ratings for Extra Space Storage.

What are 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 outperformed the industry it belongs to, in the past three months. The stock has seen the Zacks Consensus Estimate for current-year funds from operations (FFO) per share being revised upward in two months’ time. The company’s focus to expand its geographical footprint through accretive acquisitions and third-party management platforms is anticipated to drive growth over the long term. In fact, the company gained an increased scale in several core markets on the back of these acquisitions, as well as fortified its presence in a number of new markets. Moreover, its presence in key cities and strategic joint ventures serve as growth drivers amid sound demand in the self-storage industry. However, increasing supply of self-storage units in certain markets and stiff competition remain concerns. Also, rate hike adds to its woes." (10/11/2017)
  • 2. Cantor Fitzgerald analysts commented, "We are reiterating our Neutral rating and $76 price target on EXR. 4Q core FFO/sh. beat our estimates and consensus by $0.05, with an increase in rental rates offset by a decline in occupancy. In line with CubeSmart and LifeStorage's results, there was a moderation in the deceleration in SS rev. growth rates in the quarter. As with the 4Q SS revenue growth rate, the outlook for 2017 implies that deceleration in growth will slow (5.2% in 4Q vs. 4-5% in 2017). On a relative basis, EXR's 2017 SS revenue growth may be slightly higher than that of CUBE, at 25bps, and 100bps higher than that of LSI. We maintain our Neutral rating largely on a relative valuation basis. EXR is trading at an 8.1% NAV/sh. premium (Cantor ests.) vs. 0.6% for self-storage peers (average for CUBE, LSI and PSA)." (2/22/2017)

Who are some of Extra Space Storage's key competitors?

Who are Extra Space Storage's key executives?

Extra Space Storage's management team includes the folowing people:

  • Kenneth M. Woolley, Executive Chairman of the Board
  • Joseph D. Margolis, Chief Executive Officer
  • Peter Scott Stubbs, Chief Financial Officer, Executive Vice President
  • Samrat Sondhi, Chief Operating Officer, Executive Vice President
  • James L. Overturf, Executive Vice President, Chief Marketing Officer
  • Gwyn G. McNeal, Executive Vice President, Chief Legal Officer
  • Roger B. Porter Ph.D., Lead Independent Director
  • Spencer F. Kirk, Director
  • Dennis J. Letham, Independent Director
  • Diane Olmstead, Independent Director

Who owns Extra Space Storage stock?

Extra Space Storage's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include PGGM Investments (1.17%), APG Asset Management N.V. (0.82%), Fisher Asset Management LLC (0.17%), Robeco Institutional Asset Management B.V. (0.09%), State Treasurer State of Michigan (0.03%) and Spirit of America Management Corp NY (0.02%). Company insiders that own Extra Space Storage stock include Dennis J Letham, Grace Kunde, Gwyn Goodson Mcneal, James Overturf, Karl Haas, Kenneth M Woolley, P Scott Stubbs, Samrat Sondhi and Spencer Kirk. View Institutional Ownership Trends for Extra Space Storage.

Who sold Extra Space Storage stock? Who is selling Extra Space Storage stock?

Extra Space Storage's stock was sold by a variety of institutional investors in the last quarter, including PGGM Investments, Fisher Asset Management LLC, Robeco Institutional Asset Management B.V., Spirit of America Management Corp NY and State Treasurer State of Michigan. Company insiders that have sold Extra Space Storage stock in the last year include James Overturf and Spencer Kirk. View Insider Buying and Selling for Extra Space Storage.

Who bought Extra Space Storage stock? Who is buying Extra Space Storage stock?

Extra Space Storage's stock was purchased by a variety of institutional investors in the last quarter, including APG Asset Management N.V., Exane Derivatives, Mutual of America Capital Management LLC and Oakbrook Investments LLC. View Insider Buying and Selling for Extra Space Storage.

How do I buy Extra Space Storage stock?

Shares of Extra Space Storage can be purchased through any online brokerage account. Popular online brokerages 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 Extra Space Storage stock can currently be purchased for approximately $81.77.


MarketBeat Community Rating for Extra Space Storage (NYSE EXR)
Community Ranking:  2.3 out of 5 (star star)
Outperform Votes:  263 (Vote Outperform)
Underperform Votes:  308 (Vote Underperform)
Total Votes:  571
MarketBeat's community ratings are surveys of what our community members think about Extra Space Storage and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.

Analyst Ratings

Consensus Ratings for Extra Space Storage (NYSE:EXR) (How are Consensus Ratings Calculated?)
Ratings Breakdown: 1 Sell Rating, 8 Hold Ratings, 1 Strong Buy Rating
Consensus Rating:Hold (Score: 2.10)
Consensus Price Target: $81.63 (0.18% downside)
Consensus Price Target History for Extra Space Storage (NYSE:EXR)
Price Target History for Extra Space Storage (NYSE:EXR)
Analysts' Ratings History for Extra Space Storage (NYSE:EXR)
Show:
DateFirmActionRatingPrice TargetImpact on Share PriceDetails
10/11/2017KeyCorpReiterated RatingHoldN/AView Rating Details
9/14/2017Evercore ISIReiterated RatingIn-Line$78.00 -> $80.00LowView Rating Details
9/11/2017BMO Capital MarketsInitiated CoverageMarket Perform$78.00MediumView Rating Details
9/1/2017Cantor FitzgeraldReiterated RatingHold$77.00LowView Rating Details
7/20/2017Bank of America CorporationDowngradeBuy -> Neutral$83.00 -> $81.00LowView Rating Details
5/15/2017Goldman Sachs Group, Inc. (The)UpgradeBuy -> Conviction-Buy$95.00LowView Rating Details
5/11/2017Citigroup Inc.Reiterated RatingNeutralMediumView Rating Details
4/27/2017Royal Bank Of CanadaReiterated RatingHold$80.00HighView Rating Details
4/3/2017Jefferies Group LLCReiterated RatingHold$80.00HighView Rating Details
12/12/2016Morgan StanleyDowngradeEqual Weight -> UnderweightN/AView Rating Details
8/12/2016Raymond James Financial, Inc.DowngradeStrong-Buy -> Outperform$95.00 -> $106.00N/AView Rating Details
7/29/2016DA DavidsonBoost Price TargetNeutral$90.00 -> $95.00N/AView Rating Details
7/25/2016SunTrust Banks, Inc.DowngradeBuy -> Neutral$107.00 -> $100.00N/AView Rating Details
11/10/2015BB&T CorporationInitiated CoverageUnderweight$74.50 -> $74.50N/AView Rating Details
(Data available from 10/23/2015 forward)

Earnings

Earnings History for Extra Space Storage (NYSE:EXR)
Earnings by Quarter for Extra Space Storage (NYSE:EXR)
Earnings History by Quarter for Extra Space Storage (NYSE EXR)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
11/1/2017$1.10N/AView Earnings Details
10/24/2017$0.69N/AView Earnings Details
8/1/2017Q2 2017$1.05$1.09$239.89 million$276.00 millionViewListenView Earnings Details
4/26/2017Q1 2017$0.98$1.03$233.12 million$263.00 millionViewN/AView Earnings Details
2/21/2017Q416$0.55$1.03$227.18 million$229.00 millionViewListenView Earnings Details
10/26/2016Q3$0.99$1.02$218.17 million$257.20 millionViewListenView Earnings Details
7/27/2016Q2$0.93$0.94$213.32 million$244.30 millionViewListenView Earnings Details
5/2/2016Q116$0.85$0.86$204.78 million$229.40 millionViewListenView Earnings Details
2/23/2016Q415$0.76$0.87$191.15 million$225.76 millionViewListenView Earnings Details
10/28/2015Q315$0.78$0.81$169.93 million$197.50 millionViewListenView Earnings Details
7/29/2015Q215$0.74$0.72$168.25 million$185.86 millionViewListenView Earnings Details
4/29/2015Q115$0.68$0.68$167.49 million$173.20 millionViewListenView Earnings Details
2/19/2015Q414$0.67$0.68$160.54 million$167.37 millionViewListenView Earnings Details
10/29/2014Q314$0.66$0.72$158.10 million$167.37 millionViewListenView Earnings Details
7/30/2014Q214$0.63$0.63$153.02 million$160.20 millionViewListenView Earnings Details
4/28/2014Q114$0.55$0.55$142.90 million$152.20 millionViewListenView Earnings Details
2/20/2014Q413$0.55$0.52$133.59 million$141.93 millionViewListenView Earnings Details
10/29/2013Q313$0.50$0.54$129.03 million$133.10 millionViewListenView Earnings Details
8/2/2013Q213$0.49$0.50$123.77 million$126.20 millionViewListenView Earnings Details
4/29/2013Q113$0.44$0.46$111.69 million$119.32 millionViewListenView Earnings Details
2/22/2013Q412$0.43$0.46$110.08 million$113.70 millionViewListenView Earnings Details
10/29/2012Q312$0.40$0.43$103.50 millionViewN/AView Earnings Details
7/30/2012$0.35$0.38ViewN/AView Earnings Details
4/30/2012$0.33$0.33ViewN/AView Earnings Details
2/21/2012$0.32$0.35ViewN/AView Earnings Details
10/27/2011$0.30$0.32ViewN/AView Earnings Details
7/28/2011$0.27$0.29ViewN/AView Earnings Details
4/27/2011$0.24$0.25ViewN/AView Earnings Details
2/22/2011$0.24$0.29ViewN/AView Earnings Details
(Data available from 1/1/2011 forward)

Estimates

Earnings Estimates for Extra Space Storage (NYSE:EXR)
2017 EPS Consensus Estimate: $4.21
2018 EPS Consensus Estimate: $4.45
QuarterNumber of EstimatesLow EstimateHigh EstimateAverage Estimate
Q1 20174$0.96$1.01$0.99
Q2 20174$1.04$1.06$1.05
Q3 20174$1.07$1.10$1.09
Q4 20174$1.07$1.11$1.09
Q1 20181$1.06$1.06$1.06
Q2 20181$1.10$1.10$1.10
Q3 20181$1.13$1.13$1.13
Q4 20181$1.16$1.16$1.16
(Data provided by Zacks Investment Research)

Dividends

Current Dividend Information for Extra Space Storage (NYSE:EXR)
Most Recent Dividend:9/29/2017
Annual Dividend:$3.12
Dividend Yield:3.82%
Dividend Growth:26.40% (3 Year Average)
Payout Ratio:107.22% (Trailing 12 Months of Earnings)
113.04% (Based on This Year's Estimates)
106.85% (Based on Next Year's Estimates)
Track Record:6 Years of Consecutive Dividend Growth
Dividend Payments by Quarter for Extra Space Storage (NYSE:EXR)

Dividend History by Quarter for Extra Space Storage (NYSE EXR)
AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable Date
8/28/2017quarterly$0.784.04%9/14/20179/15/20179/29/2017
5/23/2017quarterly$0.784.01%6/13/20176/15/20176/30/2017
2/17/2017quarterly$0.784.04%3/13/20173/15/20173/31/2017
12/8/2016quarterly$0.784.16%12/15/201612/19/201612/30/2016
8/31/2016quarterly$0.783.88%9/13/20169/15/20169/30/2016
5/26/2016quarterly$0.783.37%6/13/20166/15/20166/30/2016
2/26/2016quarterly$0.592.84%3/11/20163/15/20163/31/2016
11/17/2015quarterly$0.592.9%12/11/201512/15/201512/31/2015
8/31/2015quarterly$0.593.21%9/11/20159/15/20159/30/2015
5/28/2015quarterly$0.593.34%6/11/20156/15/20156/30/2015
2/23/2015quarterly$0.472.85%3/12/20153/16/20153/31/2015
11/24/2014quarterly$0.473.21%12/11/201412/15/201412/31/2014
9/2/2014quarterly$0.473.49%9/11/20149/15/20149/30/2014
5/23/2014quarterly$0.473.57%6/11/20146/13/20146/30/2014
2/24/2014quarterly$0.403.35%3/12/20143/14/20143/28/2014
11/18/2013quarterly$0.403.91%12/11/201312/13/201312/31/2013
9/4/2013quarterly$0.403.9%9/12/20139/16/20139/30/2013
5/22/2013quarterly$0.403.69%6/12/20136/14/20136/28/2013
2/21/2013quarterly$0.252.62%3/13/20133/15/20133/29/2013
(Data available from 1/1/2013 forward)

Insider Trades

Insider Trading and Institutional Ownership History for Extra Space Storage (NYSE:EXR)
Insider Ownership Percentage: 3.72%
Insider Trades by Quarter for Extra Space Storage (NYSE:EXR)
Institutional Ownership by Quarter for Extra Space Storage (NYSE:EXR)
Insider Trades by Quarter for Extra Space Storage (NYSE:EXR)
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
10/19/2017James OverturfEVPSell1,300$81.80$106,340.00View SEC Filing  
10/2/2017Spencer KirkDirectorSell20,000$79.64$1,592,800.00View SEC Filing  
9/15/2017James OverturfEVPSell1,300$78.49$102,037.00View SEC Filing  
9/1/2017Spencer KirkDirectorSell20,000$78.12$1,562,400.00View SEC Filing  
8/22/2017James OverturfEVPSell1,300$75.50$98,150.00View SEC Filing  
8/1/2017Spencer KirkDirectorSell20,000$79.09$1,581,800.00View SEC Filing  
7/18/2017James OverturfEVPSell1,300$77.27$100,451.00View SEC Filing  
7/3/2017Spencer KirkDirectorSell20,000$78.31$1,566,200.00View SEC Filing  
6/9/2017James OverturfEVPSell1,300$74.90$97,370.00View SEC Filing  
6/1/2017Spencer KirkDirectorSell20,000$75.75$1,515,000.00View SEC Filing  
5/17/2017James OverturfEVPSell1,300$74.59$96,967.00View SEC Filing  
5/1/2017Spencer KirkDirectorSell20,000$75.28$1,505,600.00View SEC Filing  
4/21/2017James OverturfEVPSell1,300$80.50$104,650.00View SEC Filing  
4/3/2017Spencer KirkDirectorSell20,000$75.15$1,503,000.00View SEC Filing  
3/17/2017James OverturfEVPSell1,300$75.21$97,773.00View SEC Filing  
3/1/2017Spencer KirkDirectorSell20,000$79.63$1,592,600.00View SEC Filing  
2/8/2017James OverturfEVPSell1,300$74.10$96,330.00View SEC Filing  
2/7/2017James OverturfCMOSell600$73.73$44,238.00View SEC Filing  
2/1/2017Spencer KirkDirectorSell20,000$71.88$1,437,600.00View SEC Filing  
1/12/2017James OverturfEVPSell1,300$74.45$96,785.00View SEC Filing  
1/3/2017Spencer KirkDirectorSell20,000$76.65$1,533,000.00View SEC Filing  
12/5/2016Spencer KirkCEOSell20,000$69.43$1,388,600.00View SEC Filing  
11/1/2016Spencer KirkCEOSell20,000$72.29$1,445,800.00View SEC Filing  
10/28/2016Dennis J LethamDirectorBuy2,000$71.76$143,520.00View SEC Filing  
10/3/2016Spencer KirkCEOSell20,000$78.26$1,565,200.00View SEC Filing  
9/1/2016Spencer KirkCEOSell20,000$80.66$1,613,200.00View SEC Filing  
8/1/2016Spencer KirkCEOSell20,000$86.42$1,728,400.00View SEC Filing  
7/1/2016Spencer KirkCEOSell20,000$91.59$1,831,800.00View SEC Filing  
6/1/2016Spencer KirkCEOSell20,000$93.00$1,860,000.00View SEC Filing  
5/12/2016P Scott StubbsCFOSell6,250$93.31$583,187.50View SEC Filing  
5/10/2016Gwyn Goodson McnealEVPSell500$93.50$46,750.00View SEC Filing  
5/10/2016Samrat SondhiCOOSell6,673$93.39$623,191.47View SEC Filing  
5/4/2016Grace KundeSVPSell1,700$89.47$152,099.00View SEC Filing  
5/2/2016Spencer KirkCEOSell20,000$86.06$1,721,200.00View SEC Filing  
4/1/2016Spencer KirkCEOSell20,000$93.39$1,867,800.00View SEC Filing  
3/10/2016Karl HaasDirectorSell22,486$84.92$1,909,511.12View SEC Filing  
3/1/2016Spencer KirkCEOSell20,000$83.60$1,672,000.00View SEC Filing  
2/1/2016Spencer KirkCEOSell20,000$90.16$1,803,200.00View SEC Filing  
12/1/2015Spencer KirkCEOSell20,000$84.41$1,688,200.00View SEC Filing  
11/19/2015Kenneth M. WoolleyChairmanSell200,000$80.68$16,136,000.00View SEC Filing  
11/2/2015Spencer KirkCEOSell20,000$79.13$1,582,600.00View SEC Filing  
10/1/2015Spencer KirkCEOSell20,000$76.92$1,538,400.00View SEC Filing  
9/1/2015Spencer KirkCEOSell20,000$72.40$1,448,000.00View SEC Filing  
7/1/2015Spencer KirkCEOSell20,000$65.65$1,313,000.00View SEC Filing  
5/1/2015Spencer KirkCEOSell20,000$65.88$1,317,600.00View SEC Filing  
4/1/2015Spencer KirkCEOSell20,000$67.04$1,340,800.00View SEC Filing  
3/3/2015Karl HaasDirectorSell10,990$65.91$724,350.90View SEC Filing  
3/2/2015Spencer KirkCEOSell20,000$66.16$1,323,200.00View SEC Filing  
2/2/2015Spencer KirkCEOSell20,000$64.94$1,298,800.00View SEC Filing  
1/2/2015Spencer KirkCEOSell20,000$58.73$1,174,600.00View SEC Filing  
8/7/2014James OverturfCMOSell1,975$52.17$103,035.75View SEC Filing  
5/27/2014Grace KundeSVPSell1,543$52.50$81,007.50View SEC Filing  
5/5/2014P Scott StubbsCFOSell12,500$51.60$645,000.00View SEC Filing  
3/13/2014Karl HaasDirectorSell20,740$49.14$1,019,163.60View SEC Filing  
9/16/2013Grace KundeVPSell1,700$44.35$75,395.00View SEC Filing  
9/10/2013Karl HaasCOOSell19,650$43.00$844,950.00View SEC Filing  
5/20/2013Kenneth M WoolleyChairmanSell38,015$44.36$1,686,345.40View SEC Filing  
5/17/2013Kenneth M WoolleyChairmanSell83,966$44.42$3,729,769.72View SEC Filing  
(Data available from 1/1/2013 forward)

Headlines

Headline Trends for Extra Space Storage (NYSE:EXR)
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Extra Space Storage (EXR) Chart for Monday, October, 23, 2017

This page was last updated on 10/23/2017 by MarketBeat.com Staff

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