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Stay Ahead of the Game With Extra Space Storage (EXR) Q3 Earnings: Wall Street's Insights on Key Metrics
ZACKS· 2024-10-24 14:21
Wall Street analysts expect Extra Space Storage (EXR) to post quarterly earnings of $2.03 per share in its upcoming report, which indicates a year-over-year increase of 0.5%. Revenues are expected to be $821.37 million, up 9.8% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company revea ...
3 No-Brainer Real Estate Dividend Stocks to Buy With $1,000 Right Now
The Motley Fool· 2024-10-22 10:09
Group 1: Market Overview - The commercial real estate sector is poised for recovery as interest rates decline, shifting from a headwind to a tailwind for REITs [1][8] - The Federal Reserve has begun cutting rates, which is expected to positively impact the REIT sector [1] Group 2: Realty Income - Realty Income has a strong track record, increasing its dividend every year for three decades, with a current yield of nearly 5% [2][3] - The REIT anticipates a 4% to 5% annual growth in adjusted funds from operations (FFO), supporting similar growth in dividends [3] - Realty Income could generate a double-digit annual total return as its stock price recovers [3] Group 3: W. P. Carey - W. P. Carey has a history of annual dividend growth but reset its dividend after exiting the office sector, currently yielding nearly 6% [4][5] - The REIT is focusing on industrial properties for better long-term growth and has begun rebuilding its portfolio [5] - As cash flow increases, W. P. Carey is expected to continue raising its high-yielding dividend [5] Group 4: Extra Space Storage - Extra Space Storage is a leading self-storage REIT with over 300% total returns over the past decade, driven by steady demand and a strong management platform [6][7] - The REIT pays a nearly 4% growing dividend, with expectations for continued rental income growth [7] - With shares down more than 25% from their peak, Extra Space is well-positioned for significant returns as the sector recovers [7]
Extra Space Storage Stock Rallies 10.5% YTD: Will It Rise Further?
ZACKS· 2024-10-03 16:41
Shares of Extra Space Storage (EXR) have risen 10.5% year to date, outperforming the industry's growth of 9%. Extra Space Storage is well-poised to gain from its high brand value, geographically diversified portfolio and presence in key cities in the United States. The self-storage industry's need-based and recession-resilient nature shields it from market volatility and assures stable revenues. Extra Space Storage's focus on accretive buyouts, mutually beneficial joint venture partnerships and third-party ...
Extra Space Storage Inc. Announces Date of Earnings Release and Conference Call to Discuss 3rd Quarter 2024 Results
Prnewswire· 2024-09-24 20:15
SALT LAKE CITY, Sept. 24, 2024 /PRNewswire/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) announced today it will release financial results for the three and six months ended Sept 30, 2024 on Tuesday, October 29, 2024 after the market closes. The Company will host a conference call at 1:00 p.m. Eastern Time on Wednesday, October 30, 2024, to discuss its financial results. Hosting the call will be Extra Space Storage's CEO, Joe Margolis. Joining him will be Scott Stubbs, Executive Vice President an ...
Self-Storage REITs Analyst Is Bullish On Extra Space Storage, But No Longer Bullish On This Stock
Benzinga· 2024-09-09 15:52
Group 1: Market Overview - Self-storage REITs are gaining popularity among investors for stable and consistent returns [1] - The SSA Fall Conference suggests that the operating environment may be bottoming and capital market headwinds could soon subside [1] Group 2: Analyst Ratings and Expectations - Todd Thomas downgraded National Storage Affiliates Trust (NSA) from Overweight to Sector Weight, while maintaining an Overweight rating on Extra Space Storage Inc (EXR) and raising its price target to $178 [2] - Demand for self-storage remains under pressure, with move-in rents lower than last year, leading to anxiety across the industry due to aggressive ECRI strategies [2][3] - National Storage Affiliates Trust's portfolio is expected to lag behind peers as the demand environment is weaker than anticipated [3] Group 3: Industry Developments - Extra Space Storage plans to collapse the Life Storage brand after 11 months of testing, indicating potential changes in brand strategy [4] - There are several small and midsize portfolios entering the market, which could lead to increased acquisition activity in the coming months [4] - At the time of publication, shares of Extra Space Storage rose by 1.56% to $176.29, while Nucor's shares remained flat at $46.47 [4]
Extra Space, Extra Gains: How Extra Space Storage Is Winning The Dividend Game
Seeking Alpha· 2024-09-01 12:00
SeventyFour/iStock via Getty Images Introduction I doubt I'm breaking any news when I say I really like self-storage. Although one could make the case that it doesn't make sense from a diversification point of view, the two REITs in my 22-stock dividend growth portfolio are both selfstorage REITs. Initially, I bought Public Storage (PSA). I then added Extra Space Storage (NYSE:EXR), which has been a REIT I have admired for many years, before finally getting serious about dividend (growth) investing. While I ...
Extra Space Storage (EXR) Up 21% in 3 Months: Will the Trend Last?
ZACKS· 2024-08-23 16:55
Shares of Extra Space Storage (EXR) have rallied 21.8% in the past three months, outperforming the industry's growth of 16.2%. EXR is the largest operator of self-storage properties in the United States. This real estate investment trust (REIT) continues to benefit from its high brand value and strong presence in major cities in the United States. Late in July, Extra Space Storage reported second-quarter 2024 core funds from operations (FFO) per share of $2.06, which beat the Zacks Consensus Estimate of $2. ...
Extra Space Storage Inc. Announces 3rd Quarter 2024 Dividend
Prnewswire· 2024-08-19 20:15
SALT LAKE CITY, Aug. 19, 2024 /PRNewswire/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) announced today that the Company's board of directors has declared a third quarter 2024 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on September 30, 2024, to stockholders of record at the close of business on September 16, 2024. About Extra Space Storage Inc. Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and selfm ...
Extra Space Announces Pricing of $400 Million of 5.350% Senior Notes due 2035
Prnewswire· 2024-08-07 21:30
Core Viewpoint - Extra Space Storage Inc. has announced a public offering of $400 million in senior notes, which will be used for debt repayment and general corporate purposes, including potential acquisitions [1][2]. Group 1: Offering Details - The operating partnership, Extra Space Storage LP, priced the offering at 99.973% of the principal amount with a 5.350% interest rate, maturing on January 15, 2035 [1]. - The offering is expected to close on or about August 12, 2024, pending customary closing conditions [1]. - The notes will be fully and unconditionally guaranteed by Extra Space and certain subsidiaries [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to repay outstanding amounts under lines of credit and for general corporate and working capital purposes, including funding potential acquisition opportunities [2]. Group 3: Company Overview - Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust, a member of the S&P 500, and operates 3,812 self-storage stores across 42 states and Washington, D.C. as of June 30, 2024 [5]. - The company offers approximately 2.6 million storage units and around 292.1 million square feet of rentable space under various brands, making it the largest operator of self-storage properties in the United States [5].
Extra Space Storage (EXR) Q2 FFO Tops Estimates, Occupancy Rises
ZACKS· 2024-07-31 16:56
Extra Space Storage Inc. (EXR) reported second-quarter 2024 core funds from operations (FFO) per share of $2.06, which beat the Zacks Consensus Estimate of $2.00. The figure also remained flat year over year. The results reflect a rise in occupancy and better-than-anticipated revenues. However, higher same-store operating expenses and increased interest expenses during the quarter were a spoilsport. Quarterly revenues of $810.7 million beat the Zacks Consensus Estimate of $796.1 million. The top line jumped ...