Extra Space Storage Inc. (EXR), headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT that owns and operates over 3,500 self-storage properties. Valued at $30 billion by market cap, the company offers customers a wide selection of conveniently located and secure storage units, including boat storage, RV storage, and business storage. The largest self-storage property manager is expected to announce its fiscal first-quarter earnings for 2025 after the market closes on Tuesday, Apr. 29.
Ahead of the event, analysts expect EXR to report an FFO of $1.97 per share on a diluted basis, up marginally from $1.96 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s FFO estimates in its last four quarterly reports.
For the full year, analysts expect EXR to report FFO of $8.16 per share, down 10.5% from $9.12 in fiscal 2024. However, its FFO is expected to rise 4% year over year to $8.49 per share in fiscal 2026.
EXR stock has underperformed the S&P 500’s ($SPX) 5.4% gains over the past 52 weeks, with shares up 3.7% during this period. Similarly, it underperformed the Real Estate Select Sector SPDR Fund’s (XLRE) 13.2% gains over the same time frame.
On Feb. 25, EXR shares closed up more than 1% after reporting its Q4 results. Its core FFO of $2.03 per share surpassed Wall Street estimates of $2.02 per share. The company’s revenue was $821.9 million, falling short of Wall Street forecasts of $831.5 million. EXR expects full-year FFO in the range of $8 to $8.30 per share.
Analysts’ consensus opinion on EXR stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 19 analysts covering the stock, seven advise a “Strong Buy” rating, one suggests a “Moderate Buy,” 10 give a “Hold,” and one recommends a “Moderate Sell.” EXR’s average analyst price target is $160.89, indicating a potential upside of 14% from the current levels.
