Extra Space Storage Inc Plans Quarterly Dividend of $1.62 (NYSE:EXR)

Extra Space Storage Inc (NYSE:EXR) declared a quarterly dividend on Wednesday, August 19th. Shareholders of record on Tuesday, September 15th will be given a dividend of 1.62 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 15th.

Extra Space Storage has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. Extra Space Storage has a dividend payout ratio of 135.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Extra Space Storage to earn $8.45 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 76.7%.

Extra Space Storage Stock Performance

Shares of EXR stock opened at $148.07 on Thursday. The firm has a 50 day moving average of $147.43 and a 200-day moving average of $143.67. The company has a market cap of $31.28 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 4.22 and a beta of 1.18. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. Extra Space Storage has a 52 week low of $125.71 and a 52 week high of $158.88.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.09. The business had revenue of $874.15 million for the quarter, compared to analyst estimates of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. Extra Space Storage’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, equities analysts forecast that Extra Space Storage will post 8.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EXR shares. Wells Fargo & Company increased their price objective on shares of Extra Space Storage from $154.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. UBS Group increased their price target on Extra Space Storage from $158.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, July 10th. The Goldman Sachs Group reissued a “neutral” rating and issued a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, July 30th. Weiss Ratings raised Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. Finally, Raymond James Financial started coverage on Extra Space Storage in a report on Thursday, July 16th. They issued an “outperform” rating and a $44.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $147.87.

About Extra Space Storage

Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.