Extra Space Storage (EXR) Set to Announce Earnings on Tuesday

Extra Space Storage (NYSE:EXR) will post its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect Extra Space Storage to post earnings of $2.03 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Extra Space Storage Stock Down 3.8 %

EXR stock opened at $164.80 on Tuesday. The stock has a market capitalization of $34.89 billion, a P/E ratio of 36.70, a price-to-earnings-growth ratio of 6.47 and a beta of 0.86. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $174.49 and a 200-day moving average price of $159.24. Extra Space Storage has a 12 month low of $101.19 and a 12 month high of $184.87.

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $1.62 per share. The ex-dividend date was Monday, September 16th. This represents a $6.48 annualized dividend and a dividend yield of 3.93%. Extra Space Storage’s dividend payout ratio (DPR) is presently 144.32%.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total value of $1,338,900.00. Following the completion of the sale, the chief executive officer now directly owns 24,190 shares in the company, valued at approximately $4,318,398.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total value of $1,338,900.00. Following the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William N. Springer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $175.33, for a total value of $350,660.00. Following the completion of the sale, the executive vice president now directly owns 11,919 shares of the company’s stock, valued at $2,089,758.27. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,970 shares of company stock worth $3,367,307 in the last quarter. Company insiders own 1.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EXR shares. Evercore ISI dropped their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Royal Bank of Canada started coverage on Extra Space Storage in a research report on Tuesday, September 10th. They set a “sector perform” rating and a $180.00 target price for the company. Truist Financial upped their price target on Extra Space Storage from $152.00 to $167.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Finally, Jefferies Financial Group upgraded Extra Space Storage from a “hold” rating to a “buy” rating and upped their target price for the company from $162.00 to $204.00 in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $170.80.

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.