Extra Space Storage Inc (NYSE:EXR) Announces $1.62 Quarterly Dividend

Extra Space Storage Inc (NYSE:EXR) announced a quarterly dividend on Thursday, May 14th. Shareholders of record on Monday, June 15th will be paid a dividend of 1.62 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, June 15th.

Extra Space Storage has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Extra Space Storage has a dividend payout ratio of 135.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Extra Space Storage to earn $8.47 per share next year, which means the company should continue to be able to cover its $6.48 annual dividend with an expected future payout ratio of 76.5%.

Extra Space Storage Trading Up 0.0%

NYSE:EXR traded up $0.07 on Friday, hitting $150.33. 890,142 shares of the stock were exchanged, compared to its average volume of 1,020,898. Extra Space Storage has a 52 week low of $125.71 and a 52 week high of $155.19. The company’s 50-day moving average price is $142.29 and its 200 day moving average price is $139.46. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $31.76 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 4.88 and a beta of 1.20.

Extra Space Storage (NYSE:EXR) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.87). Extra Space Storage had a net margin of 27.66% and a return on equity of 6.65%. The company had revenue of $856.03 million during the quarter, compared to analyst estimates of $851.35 million. During the same period in the previous year, the company posted $2.00 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, equities research analysts forecast that Extra Space Storage will post 8.24 earnings per share for the current year.

Insider Activity at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the sale, the executive vice president owned 37,374 shares of the company’s stock, valued at $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Extra Space Storage

Hedge funds have recently modified their holdings of the business. Reflection Asset Management acquired a new stake in shares of Extra Space Storage during the fourth quarter worth about $26,000. Avalon Trust Co acquired a new stake in shares of Extra Space Storage during the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Extra Space Storage during the third quarter worth about $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Extra Space Storage during the first quarter worth about $30,000. Finally, Rosenberg Matthew Hamilton raised its position in shares of Extra Space Storage by 442.9% during the fourth quarter. Rosenberg Matthew Hamilton now owns 266 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 217 shares during the period. 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.