Extra Space Storage (NYSE:EXR) Posts Earnings Results, Beats Estimates By $0.99 EPS

by · The Markets Daily

Extra Space Storage (NYSE:EXR – Get Free Report) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.99, Zacks reports. Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The business had revenue of $874.15 million for the quarter, compared to analyst estimates of $874.99 million. During the same quarter in the prior year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Extra Space Storage updated its FY 2026 guidance to 8.250-8.400 EPS.

Extra Space Storage Stock Performance

Shares of EXR traded up $3.55 during mid-day 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 995,177. The stock’s 50-day moving average is $146.13 and its two-hundred day moving average is $142.97. The firm has a market capitalization of $32.08 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 4.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Extra Space Storage has a one year low of $125.71 and a one year high of $155.19.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage’s dividend payout ratio is currently 145.29%.

Insider Transactions at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the transaction, the executive vice president directly owned 37,374 shares in the company, valued at $5,606,100. This represents a 8.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Extra Space Storage

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in Extra Space Storage during the fourth quarter worth about $410,000. Invesco Ltd. raised its holdings in Extra Space Storage by 3.1% in the 4th quarter. Invesco Ltd. now owns 3,051,693 shares of the real estate investment trust’s stock valued at $397,391,000 after acquiring an additional 91,022 shares in the last quarter. Vident Advisory LLC raised its holdings in Extra Space Storage by 192.9% in the 4th quarter. Vident Advisory LLC now owns 25,218 shares of the real estate investment trust’s stock valued at $3,284,000 after acquiring an additional 16,609 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Extra Space Storage by 6.4% in the 4th quarter. First Citizens Bank & Trust Co. now owns 1,816 shares of the real estate investment trust’s stock worth $236,000 after acquiring an additional 109 shares during the period. Finally, State of Tennessee Department of Treasury lifted its position in shares of Extra Space Storage by 37.7% in the 4th quarter. State of Tennessee Department of Treasury now owns 182,315 shares of the real estate investment trust’s stock worth $25,154,000 after acquiring an additional 49,905 shares during the period. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXR has been the subject of a number of recent analyst reports. Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Mizuho boosted their price objective on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Bank of America raised shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $147.00 to $156.00 in a report on Tuesday, June 16th. Truist Financial raised their target price on shares of Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. Finally, Barclays lifted their target price on shares of Extra Space Storage from $170.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $146.53.

Get Our Latest Stock Report on Extra Space Storage

Key Headlines 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.

Extra Space Storage Company Profile

(Get Free Report)

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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