Extra Space Storage (EXR) reported earnings 30 days ago. What's next for the stock?
In trading on Monday, shares of Extra Space Storage were yielding above the 5% mark based on its quarterly dividend (annualized to $6.48), with the stock changing hands as low as $129.24 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market's total return.
Extra Space Storage remains a leading self-storage REIT with strong occupancy, robust acquisitions, and a solid financial position despite recent stock declines. EXR offers a 4.6% dividend yield, maintains an ~80% payout ratio, and has an unused buyback program that could support shares if prices weaken. The company stands to benefit from potential interest rate cuts and favorable long-term industry trends, but faces risks from economic uncertainty and the potential to see delayed Fed action.
Extra Space Storage Inc. ( EXR ) Q3 2025 Earnings Call October 30, 2025 1:00 PM EDT Company Participants Jared Conley Joseph Margolis - CEO & Director Jeff Norman - Senior Vice President of Capital Markets Conference Call Participants Michael Goldsmith - UBS Investment Bank, Research Division Jeffrey Spector - BofA Securities, Research Division Caitlin Burrows - Goldman Sachs Group, Inc., Research Division Ronald Kamdem - Morgan Stanley, Research Division Todd Thomas - KeyBanc Capital Markets Inc., Research Division Eric Wolfe - Citigroup Inc., Research Division Michael Griffin - Evercore ISI Institutional Equities, Research Division Juan Sanabria - BMO Capital Markets Equity Research Ravi Vaidya - Mizuho Securities USA LLC, Research Division Nicholas Yulico - Scotiabank Global Banking and Markets, Research Division Spenser Allaway - Green Street Advisors, LLC, Research Division Michael Mueller - JPMorgan Chase & Co, Research Division Omotayo Okusanya - Deutsche Bank AG, Research Division Presentation Operator Good afternoon, ladies and gentlemen, and welcome to the Extra Space Storage Inc. Q3 2025 Earnings Conference Call. [Operator Instructions] This call is being recorded on October 30, 2025.
EXR tops Q3 FFO estimates with occupancy gains, but rising expenses and interest costs weigh on results.
While the top- and bottom-line numbers for Extra Space Storage (EXR) give a sense of how the business performed in the quarter ended September 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Extra Space Storage (EXR) came out with quarterly funds from operations (FFO) of $2.08 per share, beating the Zacks Consensus Estimate of $2.06 per share. This compares to FFO of $2.07 per share a year ago.
EXR's strong national footprint and dividend growth support long-term prospects, but rising supply and pricing pressure may curb near-term gains.
Extra Space Storage faces headwinds from rising expenses, slowing rent growth, and macroeconomic uncertainty, leading to recent share price declines and muted acquisitions. Despite near-term volatility, EXR's strong brand and fee-based management model position it well for long-term industry resilience and market recovery. Dividend growth has stalled, but the current 5% yield offers patient investors attractive income while waiting for a turnaround.
Extra Space Storage Inc. (NYSE:EXR ) Q2 2025 Earnings Conference Call July 31, 2025 1:00 PM ET Company Participants Jared Conley - Corporate Participant Jeffrey Norman - Corporate Participant Joseph Daniel Margolis - CEO & Director Conference Call Participants Alex Murphy - Unidentified Company Truist Securities - Unidentified Company B - Barclays Bank PLC, Research Division r - Unidentified Company e - Unidentified Company n - Unidentified Company d - Unidentified Company a - Unidentified Company n - Unidentified Company J - Unidentified Company a - Unidentified Company m - Unidentified Company e - Unidentified Company s - Unidentified Company L - Unidentified Company y - Unidentified Company n - Unidentified Company c - Unidentified Company h - Unidentified Company Eric Thomas Luebchow - Unidentified Company l - Unidentified Company l - Unidentified Company r - Unidentified Company s - Unidentified Company F - Unidentified Company a - Unidentified Company e - Unidentified Company g - Unidentified Company o - Unidentified Company e - Unidentified Company c - Unidentified Company u - Unidentified Company r - Unidentified Company i - Unidentified Company t - Unidentified Company i - Unidentified Company W - Unidentified Company s - Unidentified Company L - Unidentified Company e - Unidentified Company L - Unidentified Company R - Unidentified Company e - Unidentified Company s - Unidentified Company e - Unidentified Company a - Unidentified Company r - Unidentified Company c - Unidentified Company h - Unidentified Company r - Unidentified Company i - Unidentified Company c - Unidentified
EXR's Q2 FFO misses estimates as rising expenses offset revenue gains and occupancy growth.
Although the revenue and EPS for Extra Space Storage (EXR) give a sense of how its business performed in the quarter ended June 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.