Extra Space Storage (EXR) Scheduled to Post Earnings on Tuesday

Extra Space Storage (NYSE:EXR) is scheduled to announce its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($1.01). Extra Space Storage had a return on equity of 8.34% and a net margin of 31.81%. The business had revenue of $797.77 million for the quarter, compared to analyst estimates of $778.05 million. During the same period last year, the firm earned $2.09 EPS. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. 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 Trading Down 0.3 %

Shares of EXR opened at $133.47 on Friday. Extra Space Storage has a 52-week low of $101.19 and a 52-week high of $164.99. 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 firm’s fifty day moving average is $141.87 and its two-hundred day moving average is $138.19. The stock has a market cap of $28.24 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 3.29 and a beta of 0.74.

Extra Space Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.48 annualized dividend and a dividend yield of 4.86%. Extra Space Storage’s payout ratio is 131.17%.

Analysts Set New Price Targets

EXR has been the topic of several research analyst reports. StockNews.com lowered shares of Extra Space Storage from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Scotiabank began coverage on shares of Extra Space Storage in a research note on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 price target on the stock. Barclays began coverage on shares of Extra Space Storage in a research note on Wednesday, March 27th. They set an “overweight” rating and a $157.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a research note on Tuesday, January 30th. They set a “hold” rating and a $141.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Extra Space Storage from $168.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $150.17.

Insider Activity

In other news, CMO Samrat Sondhi sold 2,048 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $146.46, for a total transaction of $299,950.08. Following the completion of the sale, the chief marketing officer now owns 94,126 shares in the company, valued at $13,785,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now 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 this link. Also, CMO Samrat Sondhi sold 2,048 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at approximately $13,785,693.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,532 shares of company stock valued at $514,819. 1.36% of the stock is currently owned by company insiders.

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.