Extra Space Storage (EXR) to Release Earnings on Tuesday

Extra Space Storage (NYSE:EXR) is expected to post its quarterly earnings results after the market closes on Tuesday, February 25th. Analysts expect Extra Space Storage to post earnings of $1.10 per share and revenue of $707.34 million for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Extra Space Storage Stock Down 0.1 %

Extra Space Storage stock opened at $155.85 on Friday. The firm has a market capitalization of $33.04 billion, a P/E ratio of 40.80, a P/E/G ratio of 7.76 and a beta of 0.91. The company has a 50-day simple moving average of $151.61 and a 200-day simple moving average of $163.72. Extra Space Storage has a one year low of $131.02 and a one year high of $184.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23.

Extra Space Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 4.16%. Extra Space Storage’s payout ratio is currently 169.63%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EXR. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday. Barclays cut their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Truist Financial upped their price target on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Scotiabank raised shares of Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target for the company in a report on Friday, January 10th. Finally, StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $173.09.

Insiders Place Their Bets

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total value of $1,110,075.00. Following the sale, the chief executive officer now owns 16,690 shares of the company’s stock, valued at approximately $2,470,286.90. This trade represents a 31.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.36% of the company’s stock.

Extra Space Storage Company Profile

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, DC 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.