Extra Space Storage (EXR) Stock

SALT LAKE CITY, Dec. 2, 2024 /PRNewswire/ -- Extra Space Storage Inc. ("Extra Space") (NYSE: EXR), a top owner and operator of self-storage facilities in the U.S. and part of the S&P 500, has announced that its operating partnership, Extra Space Storage LP, will offer $300 million in additional 5.700% senior notes due in 2028. These new notes will be added to the previously issued $500 million of the same type of senior notes due in 2028.

SALT LAKE CITY, Nov. 15, 2024 /PRNewswire/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) has announced that its board of directors has approved a dividend of $1.62 per share for the fourth quarter of 2024. This dividend will be paid on December 31, 2024, to shareholders who are on record as of the end of business on December 16, 2024.

Storage REITs have performed similarly to the average REIT, with Extra Space Storage demonstrating significant growth and a good yield in a high-demand market. The merger between EXR and Life Storage has improved funds from operations (FFO) but has also raised costs, leading to a modest forecast for FFO per share growth and an increase in occupancy rates. While EXR has a strong balance sheet and good liquidity, its dividend yield is lower than the "no-risk" rate, and the payout ratio is considered somewhat high.

EXR's results for the third quarter show increased revenues and a boost in occupancy rates. However, they faced challenges due to higher interest expenses.

While the revenue and earnings per share (EPS) for Extra Space Storage (EXR) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.

Extra Space Storage (EXR) reported quarterly funds from operations (FFO) of $2.07 per share, which is higher than the Zacks Consensus Estimate of $2.03 per share. This is an increase compared to last year's FFO of $2.02 per share.

Assess the anticipated performance of Extra Space Storage (EXR) for the quarter that ended in September 2024. Instead of just focusing on the usual revenue and profit predictions from Wall Street, let's take a closer look at some important metrics for a deeper understanding.

The real estate market appears ready to bounce back as interest rates decrease.

EXR is expected to benefit from its strong brand reputation, reliable storage services that meet customer needs, a varied range of offerings, successful acquisitions, and a solid financial position.