Streetbeat News

EXR

Extra Space Storage Inc.

https://www.extraspace.com

Industry

REIT - Industrial

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 September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, D.C. and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the United States.

Open

163.48

Mkt cap

35B

Volume

13K

High

164.75

P/E Ratio

43.93

52-wk high

184.87

Low

163.48

Div yield

0.04

52-wk low

125.32

Extra Space Storage reported worse-than-expected Q2 revenue results and a year-over-year decrease in Core FFO results. The company also cut FY23 Core FFO guidance, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:41 pm

Extra Space Storage has revised its FY23 Core FFO per share outlook from $8.30-$8.60 to $8.15-$8.35. This revision is due to the proximity of the Life Storage merger closing to the earnings release. The revised estimates exclude any impact from the Life Storage Merger.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 2:34 pm

Extra Space Storage (NYSE:EXR) reported a decrease in Q2 Core FFO per share from $2.13 YoY to $2.06. The company's Property Rental Revenues of $440.75M missed the analyst consensus estimate of $450.93M by 2.26%, despite being an 8.01% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 2:21 pm

During Thursday's session, 92 stocks hit new 52-week lows. Pfizer was the biggest company on a market cap basis to set a new 52-week low. BitNile Metaverse was the smallest firm by market cap to set a new 52-week low. Aravive made the largest move down on the session, with shares plummeting 71.75% to reach its 52-week low. Senstar Tech saw the biggest bounce back on, as shares traded up 0.0% to rebound after it hit its new 52-week low.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 2:12 pm

On Tuesday, 46 stocks hit new 52-week lows. The largest company by market cap to hit a new 52-week low was Moderna (NASDAQ:MRNA). The smallest firm by market cap to set a new 52-week low was American Rebel Holdings (NASDAQ:AREB). Polished.com (AMEX:POL) made the largest move down on the session, with shares plummeting 66.66% to reach its 52-week low. Brera Holdings (NASDAQ:BREA)'s shares had the biggest turnaround, impressively rebounding 0.0% after reaching a new 52-week low.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 10:08 am

Extra Space Storage (NYSE:EXR) has outperformed the market over the past 15 years, producing an average annual return of 16.33%. If an investor had bought $100 of EXR stock 15 years ago, it would be worth $1,005.01 today. The company currently has a market capitalization of $29.67 billion.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 3:30 pm

The real estate investment trust (REIT) sector has seen a surge in merger and acquisition (M&A) activity. AG Mortgage Investment Trust (NYSE:MITT) has offered to acquire Western Asset Mortgage Capital Corp. (NYSE:WMC), disrupting a potential merger with Terra Property Trust Inc. Global Net Lease Inc. (NYSE:GNL) plans to acquire Necessity Retail REIT Inc. (NASDAQ:RTL) to diversify its holdings. Office Properties Income Trust (NASDAQ:OPI) acquired Diversified Healthcare Trust (NASDAQ:DHC) in an all-share transaction, despite opposition from shareholders. Extra Space Storage Inc. (NYSE:EXR) and Life Storage Inc. (NYSE:LSI) merger was approved by shareholders, and Ellington Financial Inc. (NYSE:EFC) announced its acquisition of Arlington Asset Investment Corp. (NYSE:AAIC) and Great Ajax Corp. (NYSE:AJX).

Portfolio Pulse from Ethan Roberts

July 27, 2023 | 8:15 pm

Equity Lifestyle Properties Inc (ELS) shares are trading higher after the announcement that the company will join the S&P MidCap 400, replacing Life Storage Inc (LSI) which is being acquired by Extra Space Storage Inc (EXR). The changes will take effect prior to the open on July 24.

Portfolio Pulse from Adam Eckert

July 20, 2023 | 2:00 pm

Extra Space Storage (NYSE:EXR) has announced a dividend payout of $1.01 per share, reflecting an annualized dividend yield of 2.71%. The company has shown a steady increase in its dividend per share from $3.56 in 2019 to $6.00 in 2022, and its earnings per share have also increased from $4.84 in 2019 to $8.26 in 2022. This suggests a healthy financial status and potential for higher cash dividend payouts in the future.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 3:05 pm

Extra Space and Life Storage stockholders have overwhelmingly approved the merger between the two companies. More than 99.9% of Extra Space votes and 99.7% of Life Storage votes were in favor of the merger. Upon completion, Life Storage stockholders will receive 0.895 of a newly-issued share of Extra Space common stock for each share of Life Storage common stock they own. The transaction is expected to close on July 20, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 8:22 pm

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