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

Extra Space Storage Inc (NYSE:EXR) announced a quarterly dividend on Thursday, November 5th. Investors of record on Tuesday, December 15th will be given a dividend of $1.62 per share by the real estate investment trust on Thursday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, December 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. Research analysts expect Extra Space Storage to earn $8.56 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 75.7%.

Extra Space Storage Price Performance

Shares of NYSE EXR opened at $158.43 on Friday. The business’s 50 day moving average price is $139.58 and its 200 day moving average price is $142.62. The firm has a market cap of $33.07 billion, a P/E ratio of 32.18, a P/E/G ratio of 4.45 and a beta of 1.07. Extra Space Storage has a 52 week low of $125.71 and a 52 week high of $163.18. The company has a quick ratio of 1.56, a current ratio of 0.25 and a debt-to-equity ratio of 0.97.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.93). The business had revenue of $889.79 million for the quarter, compared to analysts’ expectations of $886.61 million. Extra Space Storage had a return on equity of 7.36% and a net margin of 29.90%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 earnings per share. On average, sell-side analysts expect that Extra Space Storage will post 8.46 earnings per share for the current year.

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.