Extra Space Storage (NYSE:EXR) Posts Earnings Results, Beats Estimates By $0.09 EPS

Extra Space Storage (NYSE:EXR) announced its earnings results on Tuesday. The real estate investment trust reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.09, FiscalAI reports. The firm had revenue of $874.15 million for the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.68%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. Extra Space Storage updated its FY 2026 guidance to 8.250-8.400 EPS.

Extra Space Storage Stock Down 4.0%

NYSE EXR traded down $6.08 during trading on Thursday, reaching $146.78. 471,611 shares of the company’s stock were exchanged, compared to its average volume of 1,258,850. The company has a 50 day moving average price of $146.34 and a two-hundred day moving average price of $143.08. The stock has a market cap of $31.01 billion, a P/E ratio of 32.41, a price-to-earnings-growth ratio of 4.71 and a beta of 1.19. Extra Space Storage has a 1 year low of $125.71 and a 1 year high of $158.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37.

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage’s payout ratio is 145.29%.

Wall Street Analysts Forecast Growth

Several research firms have commented on EXR. Wall Street Zen upgraded shares of Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a report on Friday, July 17th. Raymond James Financial assumed coverage on Extra Space Storage in a research note on Thursday, July 16th. They set an “outperform” rating and a $44.00 target price for the company. Barclays upped their price target on Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Finally, UBS Group lifted their price objective on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $146.53.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the sale, the executive vice president owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Extra Space Storage

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its stake in Extra Space Storage by 9.3% during the 1st quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust’s stock worth $506,000 after acquiring an additional 291 shares in the last quarter. Empowered Funds LLC boosted its stake in Extra Space Storage by 15.5% in the first quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust’s stock valued at $729,000 after acquiring an additional 661 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Extra Space Storage during the second quarter worth about $457,000. First Trust Advisors LP grew its holdings in shares of Extra Space Storage by 184.1% during the second quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust’s stock worth $15,954,000 after purchasing an additional 70,115 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Extra Space Storage by 1.8% during the second quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

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.