Extra Space Storage (EXR) to Release Earnings on Tuesday

Extra Space Storage (NYSE:EXR) is scheduled to post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Extra Space Storage to post earnings of $1.82 per share for the quarter. Extra Space Storage has set its FY24 guidance at $7.85-8.15 EPS and its FY 2024 guidance at 7.850-8.150 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Extra Space Storage (NYSE:EXR) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The business had revenue of $797.77 million during the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The business’s revenue was up 57.4% on a year-over-year basis. During the same period last year, the company earned $2.09 EPS. On average, analysts expect Extra Space Storage to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Extra Space Storage Stock Performance

NYSE EXR opened at $132.74 on Tuesday. The firm has a market cap of $28.09 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 3.25 and a beta of 0.74. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $142.39 and a 200-day moving average price of $137.93. Extra Space Storage has a twelve month low of $101.19 and a twelve month high of $164.99.

Extra Space Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, March 14th. Extra Space Storage’s dividend payout ratio (DPR) is 131.17%.

Insider Buying and Selling at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now directly owns 37,028 shares in the company, valued at $5,369,060. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the sale, the chief marketing officer now directly owns 94,126 shares in the company, valued at $13,785,693.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $145.00, for a total value of $195,750.00. Following the completion of the sale, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. Insiders have sold a total of 3,532 shares of company stock worth $514,819 over the last ninety days. Company insiders own 1.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Raymond James reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, March 28th. TheStreet raised Extra Space Storage from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Deutsche Bank Aktiengesellschaft initiated coverage on Extra Space Storage in a research note on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective for the company. Barclays initiated coverage on Extra Space Storage in a research report on Wednesday, March 27th. They issued an “overweight” rating and a $157.00 target price on the stock. Finally, Scotiabank initiated coverage on Extra Space Storage in a research report on Tuesday, February 13th. They issued a “sector underperform” rating and a $131.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $150.17.

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.