Q1 EPS Estimate for Extra Space Storage Raised by Analyst

Extra Space Storage Inc. (NYSE:EXR) – Analysts at Zacks Research increased their Q1 2025 EPS estimates for shares of Extra Space Storage in a report released on Monday, February 10th. Zacks Research analyst R. Department now expects that the real estate investment trust will post earnings of $1.99 per share for the quarter, up from their prior estimate of $1.97. The consensus estimate for Extra Space Storage’s current full-year earnings is $8.10 per share.

Several other brokerages have also recently issued reports on EXR. Scotiabank upgraded Extra Space Storage from a “sector underperform” rating to a “sector perform” rating and set a $167.00 price target on the stock in a research report on Friday, January 10th. StockNews.com raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $175.00 price objective on shares of Extra Space Storage in a research note on Monday, October 21st. Truist Financial increased their target price on shares of Extra Space Storage from $167.00 to $168.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Finally, Barclays decreased their price target on shares of Extra Space Storage from $192.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $174.00.

Extra Space Storage Price Performance

NYSE EXR opened at $154.84 on Thursday. Extra Space Storage has a 12 month low of $131.02 and a 12 month high of $184.87. The firm has a market capitalization of $32.82 billion, a PE ratio of 40.53, a P/E/G ratio of 7.77 and a beta of 0.91. The company’s 50 day simple moving average is $152.64 and its 200 day simple moving average is $164.12. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Monday, December 16th. Extra Space Storage’s dividend payout ratio (DPR) is currently 169.63%.

Insider Activity

In other news, CEO Joseph D. Margolis sold 7,500 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now 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 Securities & Exchange Commission, which is available at this link. Also, Director Diane Olmstead sold 3,081 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the sale, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This represents a 34.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On Extra Space Storage

A number of hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in Extra Space Storage in the fourth quarter valued at about $25,000. Harbour Investments Inc. grew its stake in shares of Extra Space Storage by 90.9% in the 4th 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 in the last quarter. Ashton Thomas Securities LLC acquired a new position in Extra Space Storage in the third quarter worth approximately $33,000. Harvest Fund Management Co. Ltd bought a new position in Extra Space Storage during the third quarter valued at approximately $42,000. Finally, Continuum Advisory LLC lifted its stake in Extra Space Storage by 68.1% in the third quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 126 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

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.