What is Zacks Research’s Estimate for EXR FY2027 Earnings?

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

Several other brokerages have also weighed in on EXR. Barclays dropped their price objective on shares of 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. The Goldman Sachs Group reissued a “buy” rating on shares of Extra Space Storage in a report on Thursday, March 6th. Royal Bank of Canada reduced their target price on shares of Extra Space Storage from $167.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company dropped their price objective on shares of Extra Space Storage from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, February 21st. Finally, StockNews.com cut shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Extra Space Storage has a consensus rating of “Hold” and a consensus target price of $171.09.

Extra Space Storage Stock Down 1.3 %

EXR stock opened at $143.92 on Thursday. The business’s 50 day simple moving average is $152.76 and its 200 day simple moving average is $161.15. Extra Space Storage has a 1-year low of $131.02 and a 1-year high of $184.87. The firm has a market capitalization of $30.51 billion, a PE ratio of 37.67, a PEG ratio of 7.76 and a beta of 0.90. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.93. The business had revenue of $821.90 million during the quarter, compared to analysts’ expectations of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%.

Extra Space Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.48 annualized dividend and a yield of 4.50%. Extra Space Storage’s dividend payout ratio is presently 160.40%.

Insider Transactions at Extra Space Storage

In related news, Director Joseph J. Bonner sold 672 shares of Extra Space Storage stock in a transaction that occurred 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 transaction, the director now directly owns 4,557 shares of the company’s stock, valued at $679,448.70. The trade was a 12.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William N. Springer sold 1,220 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total transaction of $186,245.20. Following the completion of the sale, the executive vice president now directly owns 20,158 shares in the company, valued at approximately $3,077,320.28. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,392 shares of company stock worth $1,396,515. Insiders own 1.36% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in Extra Space Storage by 1.7% during the third quarter. State Street Corp now owns 13,390,830 shares of the real estate investment trust’s stock worth $2,412,894,000 after acquiring an additional 227,006 shares in the last quarter. Cohen & Steers Inc. grew its stake in Extra Space Storage by 5.9% in the fourth quarter. Cohen & Steers Inc. now owns 9,246,133 shares of the real estate investment trust’s stock valued at $1,383,094,000 after acquiring an additional 516,941 shares during the period. Norges Bank acquired a new position in shares of Extra Space Storage during the fourth quarter worth approximately $938,647,000. Dimensional Fund Advisors LP lifted its holdings in shares of Extra Space Storage by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,136,640 shares of the real estate investment trust’s stock worth $469,229,000 after purchasing an additional 24,533 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Extra Space Storage by 3.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,064,970 shares of the real estate investment trust’s stock valued at $458,520,000 after purchasing an additional 104,986 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

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.