Extra Space Storage (NYSE:EXR – Get Free Report) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.99, Zacks reports. The firm had revenue of $874.15 million during the quarter, compared to analysts’ expectations of $874.99 million. Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. Extra Space Storage updated its FY 2026 guidance to 8.250-8.400 EPS.
Extra Space Storage Price Performance
EXR traded up $3.55 during trading on Tuesday, hitting $151.84. The company’s stock had a trading volume of 1,974,500 shares, compared to its average volume of 1,254,026. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $32.08 billion, a price-to-earnings ratio of 34.04, a price-to-earnings-growth ratio of 4.57 and a beta of 1.19. The firm’s 50 day moving average price is $146.13 and its two-hundred day moving average price is $142.97. Extra Space Storage has a 12 month low of $125.71 and a 12 month high of $155.19.
Extra Space Storage Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage’s dividend payout ratio (DPR) is currently 145.29%.
Insider Activity at Extra Space Storage
Institutional Investors Weigh In On Extra Space Storage
Hedge funds have recently added to or reduced their stakes in the stock. Brown Advisory Inc. increased its position in Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 80 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Extra Space Storage by 6.4% during the fourth quarter. First Citizens Bank & Trust Co. now owns 1,816 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 109 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Extra Space Storage by 7.2% during the fourth quarter. Aptus Capital Advisors LLC now owns 1,835 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 123 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Extra Space Storage by 16.3% during the fourth quarter. Parallel Advisors LLC now owns 1,190 shares of the real estate investment trust’s stock valued at $155,000 after purchasing an additional 167 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in shares of Extra Space Storage by 7.8% during the third quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the real estate investment trust’s stock valued at $338,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 99.11% of the company’s stock.
Key Stories Impacting Extra Space Storage
Here are the key news stories impacting Extra Space Storage this week:
- Positive Sentiment: Core FFO beat estimates: Core funds from operations were $2.15 per share, above the $2.06 consensus estimate and up from $2.05 a year earlier. Net income attributable to common shareholders rose 5.9% year over year to $1.25 per diluted share. Extra Space Storage Beats Q2 FFO and Revenue Estimates
- Positive Sentiment: Revenue and operating income grew: Second-quarter revenue increased 3.9% year over year to approximately $874.2 million. Same-store revenue grew 2.4%, while same-store net operating income rose 3.5%, indicating continued underlying operating growth. Extra Space Storage Reports 2026 Second Quarter Results
- Positive Sentiment: Full-year outlook improved: EXR set or raised its 2026 Core FFO guidance to $8.25-$8.40 per share, broadly bracketing the $8.26 analyst consensus and supporting expectations for continued earnings growth.
- Positive Sentiment: Capital deployment and income remain supportive: The company acquired 17 operating stores and a joint-venture interest for $90.7 million, originated $140.6 million of real-estate loans, and paid a quarterly dividend of $1.62 per share.
- Neutral Sentiment: Revenue was essentially in line: Reported revenue was slightly below the $874.99 million analyst estimate, limiting the size of the positive surprise on the top line. Compared to Estimates Extra Space Storage Q2 Earnings
- Negative Sentiment: Occupancy edged lower: Ending same-store occupancy was 94.2%, down from 94.4% a year earlier, suggesting modest pressure on demand or pricing.
- Negative Sentiment: Insider selling: CEO Joseph Margolis and Chief Legal Officer Gwyn Goodson McNeal sold shares in recent months. These transactions may create a minor sentiment headwind, although they do not change the quarter’s operating results.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on EXR shares. Barclays increased their target price on Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Wells Fargo & Company boosted their price target on Extra Space Storage from $154.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Extra Space Storage in a research report on Friday, July 17th. Raymond James Financial started coverage on Extra Space Storage in a research note on Thursday, July 16th. They set an “outperform” rating and a $44.00 price objective for the company. Finally, UBS Group lifted their price objective on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $146.53.
About Extra Space Storage
Extra Space Storage (NYSE: EXR) is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.
Its business model combines property ownership with third-party management and development activities.
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