Extra Space Storage (NYSE:EXR) Updates FY 2026 Earnings Guidance

Extra Space Storage (NYSE:EXR) updated its FY 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.250-8.400 for the period, compared to the consensus EPS estimate of 8.260. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several brokerages have commented on EXR. Wells Fargo & Company boosted their price target on shares of Extra Space Storage from $154.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $147.00 to $156.00 in a research report on Tuesday, June 16th. Mizuho lifted 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. Barclays boosted 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a report on Friday, July 17th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Extra Space Storage presently has a consensus rating of “Hold” and a consensus price target of $146.53.

Extra Space Storage Price Performance

Shares of NYSE EXR traded up $3.55 during mid-day trading on Tuesday, reaching $151.84. The company had a trading volume of 1,974,500 shares, compared to its average volume of 1,254,026. The company has a 50-day moving average price of $145.90 and a two-hundred day moving average price of $142.84. The stock has a market cap of $32.08 billion, a PE ratio of 34.04, a P/E/G ratio of 4.57 and a beta of 1.19. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. Extra Space Storage has a 1-year low of $125.71 and a 1-year high of $155.19.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.87). The company had revenue of $856.03 million for the quarter, compared to analysts’ expectations of $851.35 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 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.00 earnings per share. On average, equities analysts anticipate that Extra Space Storage will post 8.26 earnings per share for the current year.

Extra Space Storage Announces Dividend

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

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value 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 trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Extra Space Storage

A number of large investors have recently made changes to their positions in the company. State Street Corp boosted its stake in Extra Space Storage by 1.7% in the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock worth $1,960,599,000 after purchasing an additional 230,697 shares during the period. Dimensional Fund Advisors LP raised its stake in Extra Space Storage by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,172,956 shares of the real estate investment trust’s stock valued at $413,192,000 after purchasing an additional 58,294 shares during the period. Invesco Ltd. lifted its holdings in shares of Extra Space Storage by 3.1% in the fourth quarter. Invesco Ltd. now owns 3,051,693 shares of the real estate investment trust’s stock valued at $397,391,000 after purchasing an additional 91,022 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Extra Space Storage by 0.8% in the third quarter. Northern Trust Corp now owns 2,867,036 shares of the real estate investment trust’s stock valued at $404,080,000 after purchasing an additional 23,719 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Extra Space Storage by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,713,021 shares of the real estate investment trust’s stock valued at $353,290,000 after purchasing an additional 142,122 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

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.