Extra Space Storage (NYSE:EXR) Stock Jumps 4.2% – Should You Buy?

Extra Space Storage Inc (NYSE:EXR)’s share price shot up 4.2% during mid-day trading on Wednesday. The stock traded as high as $150.41 and last traded at $150.6910. Approximately 341,261 shares traded hands during trading, a decline of 73% from the average session volume of 1,252,455 shares. The stock had previously closed at $144.55.

Key Extra Space Storage News

Here are the key news stories impacting Extra Space Storage this week:

• Positive Sentiment: Core FFO beat estimates: Third-quarter core funds from operations were $2.17 per diluted share, up from $2.08 a year earlier and above the $2.10 consensus estimate. Revenue of $889.8 million also modestly exceeded expectations. Extra Space Storage Beats Q3 FFO and Revenue Estimates
• Positive Sentiment: Same-store performance improved: Same-store revenue increased 2.7%, expenses declined 1.8%, and same-store net operating income rose 4.6%, while occupancy ended the quarter at a solid 94.0%. Extra Space Storage Reports 2026 Third Quarter Results
• Positive Sentiment: New buyback authorization: Extra Space repurchased approximately 2.4 million shares for $327.1 million during the quarter and authorized an additional $500 million in share repurchases, supporting per-share results and signaling management confidence. Extra Space Storage Q3 2026 Earnings
• Neutral Sentiment: 2026 guidance was revised: The company updated its earnings outlook for the year ending December 31, 2026. The available report does not specify the size or direction of the revision, making the guidance update an important item for investors to monitor. Extra Space Storage Revises Earnings Guidance
• Negative Sentiment: GAAP EPS missed estimates: Reported EPS was $1.17 versus the $2.10 consensus, although the comparison was affected by real-estate-related items and FFO was stronger. Analysts also continue to view EXR’s valuation as demanding, with slower 2%–4% AFFO growth, elevated interest rates, and limited pricing power potentially restricting multiple expansion. Extra Space Storage Better Results Still Not a Buy

Analysts Set New Price Targets

Several brokerages have issued reports on EXR. Raymond James Financial assumed coverage on shares of Extra Space Storage in a research report on Thursday, July 16th. They set an “outperform” rating and a $44.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Extra Space Storage from $158.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 1st. Mizuho lowered their price target on shares of Extra Space Storage from $155.00 to $152.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 2nd. Wall Street Zen upgraded Extra Space Storage from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, BMO Capital Markets raised shares of Extra Space Storage from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $170.00 in a research note on Thursday, August 27th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Extra Space Storage presently has an average rating of “Moderate Buy” and a consensus price target of $148.67.

Extra Space Storage Stock Up 2.0%

The firm has a 50 day moving average of $138.49 and a 200-day moving average of $142.20. The company has a market cap of $31.16 billion, a P/E ratio of 32.55 and a beta of 1.15.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $2.10 by ($0.93). The firm had revenue of $889.79 million for the quarter, compared to analyst estimates of $886.61 million. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. On average, research analysts predict that Extra Space Storage Inc will post 8.34 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 15th. Extra Space Storage’s dividend payout ratio is presently 143.05%.

Institutional Trading of Extra Space Storage

Hedge funds and other institutional investors have recently made changes to their positions in the company. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd grew its holdings in Extra Space Storage by 40.1% during the 3rd quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd now owns 17,418 shares of the real estate investment trust’s stock valued at $2,291,000 after buying an additional 4,989 shares during the last quarter. North Dakota State Investment Board grew its holdings in Extra Space Storage by 2.5% during the 3rd quarter. North Dakota State Investment Board now owns 6,419 shares of the real estate investment trust’s stock worth $844,000 after acquiring an additional 155 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Extra Space Storage by 2.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 402,059 shares of the real estate investment trust’s stock valued at $52,875,000 after buying an additional 8,118 shares during the period. Aegis Wealth Management Inc. lifted its position in Extra Space Storage by 2.7% in the 3rd quarter. Aegis Wealth Management Inc. now owns 5,516 shares of the real estate investment trust’s stock valued at $725,000 after purchasing an additional 144 shares during the last quarter. Finally, Peterson Wealth Services lifted its holdings in Extra Space Storage by 10.5% in the third quarter. Peterson Wealth Services now owns 4,865 shares of the real estate investment trust’s stock worth $640,000 after purchasing an additional 461 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust that owns, operates, manages and develops self-storage properties in the United States. The company provides storage units for residential, business and vehicle-storage customers, with facilities offering a range of unit sizes and access options.

In addition to operating properties under the Extra Space Storage brand, the company provides third-party property management, acquisition and development services for self-storage owners.