Zacks Research Issues Pessimistic Estimate for EXR Earnings

Extra Space Storage Inc (NYSE:EXR) – Stock analysts at Zacks Research cut their Q1 2026 earnings estimates for shares of Extra Space Storage in a research note issued to investors on Monday, July 14th. Zacks Research analyst R. Department now anticipates that the real estate investment trust will post earnings of $2.02 per share for the quarter, down from their previous estimate of $2.04. The consensus estimate for Extra Space Storage’s current full-year earnings is $8.10 per share. Zacks Research also issued estimates for Extra Space Storage’s FY2026 earnings at $8.35 EPS, Q1 2027 earnings at $2.05 EPS, Q2 2027 earnings at $2.12 EPS and FY2027 earnings at $8.50 EPS.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.04. The firm had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $705.12 million. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 EPS.

Several other research analysts have also commented on the stock. BNP Paribas Exane started coverage on shares of Extra Space Storage in a report on Tuesday, June 24th. They issued a “neutral” rating and a $156.00 price target on the stock. Royal Bank Of Canada cut their price target on shares of Extra Space Storage from $163.00 to $160.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Extra Space Storage from $160.00 to $162.00 and gave the company a “neutral” rating in a report on Friday, June 13th. Scotiabank raised their price target on shares of Extra Space Storage from $149.00 to $166.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Finally, BNP Paribas upgraded shares of Extra Space Storage to a “hold” rating in a report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $159.29.

Extra Space Storage Price Performance

NYSE:EXR opened at $148.85 on Wednesday. The firm has a market cap of $31.59 billion, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 3.59 and a beta of 1.10. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average is $148.93 and its two-hundred day moving average is $148.39. Extra Space Storage has a 12-month low of $121.03 and a 12-month high of $184.87.

Extra Space Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.48 annualized dividend and a yield of 4.35%. Extra Space Storage’s dividend payout ratio (DPR) is presently 150.35%.

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $150.35, for a total transaction of $1,127,625.00. Following the transaction, the chief executive officer owned 27,260 shares of the company’s stock, valued at $4,098,541. The trade was a 21.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Extra Space Storage

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted its holdings in Extra Space Storage by 7.2% in the 1st quarter. D.A. Davidson & CO. now owns 1,895 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 127 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Extra Space Storage by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,222 shares of the real estate investment trust’s stock worth $3,285,000 after buying an additional 398 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Extra Space Storage by 21.4% during the first quarter. QRG Capital Management Inc. now owns 2,684 shares of the real estate investment trust’s stock worth $399,000 after buying an additional 474 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Extra Space Storage by 24.3% during the first quarter. Farther Finance Advisors LLC now owns 1,464 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 286 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Extra Space Storage by 44.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 22,593 shares of the real estate investment trust’s stock worth $3,355,000 after buying an additional 6,964 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

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.