Maryland, USA-based Extra Space Storage Inc. (EXR) is a real estate investment trust (REIT) that offers a vast array of well-located storage facilities comprising many units and many million square feet of rentable storage space. Valued at a market cap of $30.4 billion, the company is expected to release its Q2 2026 earnings on Tuesday, July 28, after the market closes.
Ahead of the event, analysts expect the company’s FFO to be $2.06 on a diluted basis, up marginally from $2.05 in the year-ago quarter. The company has exceeded Wall Street’s FFO estimates in three of its last four quarters, while missing on one occasion.
For fiscal 2026, analysts project the company’s FFO to be $8.26, up by a marginal point from $8.21 in fiscal 2025. However, its FFO is expected to rise by roughly 2.7% year over year (YoY) to $8.48 in fiscal 2027.
EXR stock has declined 3.3% over the past 52 weeks, lagging behind the S&P 500 Index’s ($SPX) 20.7% rise and the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 7.7% rise during the same time frame.
On Apr. 28, EXR stock rose 1.1% following the release of its Q1 2026 earnings. The company’s revenue for the quarter amounted to $856 million, surpassing the Street’s estimates. Moreover, its AFFO for the period came in at $2.04, also coming in on top of Wall Street’s estimates. Extra Space Storage expects full-year funds from operations in the range of $8.05 to $8.35 per share.
Analysts are highly optimistic about EXR, with the stock having a “Moderate Buy” rating overall. Among the 20 analysts covering the stock, seven are recommending a “Strong Buy,” and 19 suggest a “Hold.” EXR’s average analyst price target is $156.47, indicating an upside of 8% from the current levels.
On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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