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 $29.5 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 leading self-storage REIT is expected to announce its fiscal first-quarter earnings for 2026 after the market closes on Tuesday, Apr. 28.
Ahead of the event, analysts expect EXR to report an FFO of $2.01 per share on a diluted basis, up marginally from $2 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing the forecast on another occasion.
For the full year, analysts expect EXR to report FFO of $8.24 per share, up marginally from $8.21 per share in fiscal 2025. Its FFO is expected to rise 2.8% year over year to $8.47 per share in fiscal 2027.
EXR stock has underperformed the S&P 500 Index’s ($SPX) 28.4% gains over the past 52 weeks, with shares up 4.4% during this period. Similarly, it underperformed the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 10.5% gains over the same time frame.
On Feb. 19, EXR shares closed up marginally after reporting its Q4 results. Its FFO of $2.08 per share exceeded Wall Street expectations of $2.03 per share. The company’s revenue was $857.5 million, topping Wall Street forecasts of $851 million. EXR expects full-year FFO in the range of $8.05 to $8.35 per share.
Analysts’ consensus opinion on EXR stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 20 analysts covering the stock, seven advise a “Strong Buy” rating, 12 give a “Hold,” and one recommends a “Moderate Sell.” EXR’s average analyst price target is $153.28, indicating a potential upside of 9.7% from the current levels.
