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

Extra Space Storage Inc (NYSE:EXR) announced a quarterly dividend on Thursday, November 20th. Stockholders of record on Monday, December 15th will be given a dividend of 1.62 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th.

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 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 $8.34 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 Price Performance

NYSE EXR opened at $130.99 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29. Extra Space Storage has a one year low of $121.03 and a one year high of $175.57. The company has a market capitalization of $27.80 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 2.56 and a beta of 1.14. The stock has a 50-day moving average of $140.44 and a 200 day moving average of $144.21.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.02. The company had revenue of $858.46 million during the quarter, compared to analysts’ expectations of $736.26 million. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.Extra Space Storage’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 earnings per share. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. On average, sell-side analysts forecast that Extra Space Storage will post 8.1 EPS for the current year.

About Extra Space Storage

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.