Extra Space Storage Inc (EXR) to Issue Quarterly Dividend of $1.62 on March 31st

Extra Space Storage Inc (NYSE:EXR) declared a quarterly dividend on Friday, February 13th. Shareholders of record on Monday, March 16th will be given a dividend of 1.62 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, March 16th.

Extra Space Storage has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 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. Equities research analysts expect Extra Space Storage to earn $8.34 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 77.7%.

Extra Space Storage Trading Up 0.8%

Extra Space Storage stock traded up $1.16 during mid-day trading on Friday, hitting $141.34. The company’s stock had a trading volume of 839,268 shares, compared to its average volume of 1,243,558. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.39 and a current ratio of 0.39. The company has a 50 day moving average of $143.43 and a 200-day moving average of $139.81. Extra Space Storage has a one year low of $121.03 and a one year high of $155.19. The stock has a market cap of $29.84 billion, a PE ratio of 30.73, a P/E/G ratio of 2.82 and a beta of 1.24.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Thursday, February 19th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $857.47 million during the quarter, compared to analyst estimates of $732.92 million. Extra Space Storage had a net margin of 28.84% and a return on equity of 6.79%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.03 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. On average, research analysts anticipate that Extra Space Storage will post 8.1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Avalon Trust Co acquired a new stake in Extra Space Storage in the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Extra Space Storage during the third quarter valued at about $28,000. Reflection Asset Management acquired a new position in shares of Extra Space Storage during the fourth quarter valued at about $26,000. Versant Capital Management Inc raised its position in shares of Extra Space Storage by 60.2% in the 3rd quarter. Versant Capital Management Inc now owns 213 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Finally, Davis Capital Management acquired a new stake in Extra Space Storage in the 3rd quarter worth approximately $35,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

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.