Brokers Set Expectations for EXR FY2027 Earnings

Extra Space Storage Inc. (NYSE:EXR) – Stock analysts at Zacks Research issued their FY2027 earnings per share (EPS) estimates for shares of Extra Space Storage in a report released on Tuesday, March 18th. Zacks Research analyst R. Department anticipates that the real estate investment trust will post earnings of $8.99 per share for the year. The consensus estimate for Extra Space Storage’s current full-year earnings is $8.10 per share.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million for the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%.

Several other brokerages also recently commented on EXR. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Friday, March 7th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Royal Bank of Canada cut their price objective on Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Barclays cut their price objective on Extra Space Storage from $184.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Finally, Truist Financial upped their price objective on Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Extra Space Storage currently has an average rating of “Hold” and an average target price of $171.09.

Extra Space Storage Stock Performance

NYSE EXR opened at $145.67 on Thursday. The company has a market cap of $30.88 billion, a P/E ratio of 38.13, a P/E/G ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.23 and a current ratio of 0.23. The business’s 50 day moving average price is $152.82 and its 200-day moving average price is $161.38. Extra Space Storage has a fifty-two week low of $131.02 and a fifty-two week high of $184.87.

Institutional Investors Weigh In On Extra Space Storage

Hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage during the 4th quarter worth $25,000. Harbour Investments Inc. raised its stake in Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Extra Space Storage in the third quarter valued at about $42,000. Quent Capital LLC raised its stake in Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 154 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in Extra Space Storage in the fourth quarter valued at about $52,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $148.01, for a total transaction of $1,110,075.00. Following the completion of the sale, the chief executive officer now directly owns 16,690 shares in the company, valued at $2,470,286.90. This represents a 31.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph J. Bonner sold 672 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $149.10, for a total value of $100,195.20. Following the sale, the director now owns 4,557 shares of the company’s stock, valued at $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,392 shares of company stock worth $1,396,515 in the last three months. 1.36% of the stock is owned by insiders.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Friday, March 14th. Extra Space Storage’s payout ratio is 160.40%.

About Extra Space Storage

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.