Extra Space Storage (EXR) DIvidends Date & History

Key Takeaways

• Extra Space Storage offers a trailing dividend yield of 4.54% and forward yield of 4.56%, providing solid income for investors.
• Quarterly dividend stands at $1.62 per share, equating to an annual payout of $6.48, paid consistently.
• Payout ratio appears high at 141% on GAAP earnings, but REITs like EXR prioritize FFO (Funds From Operations) coverage, estimated around 80%.
• Recent dividend growth flat at 0% over the past year, but averaged 12.47% CAGR over five years.
• Competitive yield versus peers like PSA (3.9%) but below NSA (5.5%).
• Most recent ex-dividend date was March 16, 2026, with payment on March 31, 2026.

Dividend Overview

Extra Space Storage Inc. (EXR), a leading self-storage real estate investment trust (REIT), maintains a consistent quarterly dividend policy. The company currently pays $1.62 per share each quarter, resulting in an annual dividend of $6.48. This delivers a trailing yield of 4.54% and a forward yield of 4.56%. As a REIT, EXR is required to distribute at least 90% of its taxable income to shareholders, positioning it as a high-yield income stock rather than a rapid dividend growth play. Payments occur reliably every three months, with the latest ex-dividend date on March 16, 2026, and payment on March 31, 2026. The dividend profile appeals to investors seeking defensive, recession-resistant income from self-storage properties.

Dividend History and Growth

Extra Space Storage has a long track record of quarterly dividend payments with historical growth. Over the past five years, dividends grew at a compound annual growth rate (CAGR) of about 12.47%, though the past 12 months showed 0% growth as the quarterly rate held steady at $1.62. Recent declarations include $1.62 for Q4 2025 (ex-date December 15, 2025) and Q1 2026. The company has avoided cuts, reflecting a strategy focused on stability amid self-storage demand. While not a Dividend Aristocrat with 25+ consecutive years of increases, EXR's payments have compounded over a decade, supported by operational expansion and acquisitions.

Dividend Sustainability and Payout Ratio

The headline payout ratio for EXR is 141.18% based on GAAP earnings per share, which may raise concerns at first glance. However, for REITs, funds from operations (FFO) or adjusted FFO (AFFO) provide a better measure, with coverage around 78.9-80%. Free cash flow payout is higher but aligns with the sector's capital-intensive nature. Steady cash flows from long-term leases, low expense ratios, and manageable debt levels (investment-grade rated) bolster sustainability. No recent dividend hikes signal caution amid higher interest rates, but the REIT's essential-service model supports ongoing distributions.

Dividend Compared to Industry Peers

In the self-storage REIT sector, EXR's 4.56% forward yield outperforms PSA at 3.88-3.9% but trails NSA at around 5.5%. Compared to the broader REIT average (often 4-6%), EXR holds a competitive position with similar payout discipline. Peers like Public Storage emphasize scale, while EXR differentiates through technology and third-party management revenue, contributing to its above-median yield without excessive risk.

AI Screener

Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. It excels at identifying dividend stocks, income-focused investments, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. Explore the AI Screener to streamline your research today.

Is This Stock Attractive for Dividend Investors?

Extra Space Storage (EXR) suits income-oriented investors prioritizing yield and stability over aggressive growth. Its 4.6% yield and quarterly payouts appeal to those building portfolios for reliable cash flow, particularly in defensive sectors like self-storage that weather economic downturns well. Conservative dividend investors may appreciate the REIT's essential-demand business model and historical consistency, despite recent flat growth. High-yield seekers might compare it to peers like NSA, while growth enthusiasts could await FFO acceleration for hikes. Long-term holders benefit from inflation-hedging rents and portfolio diversification, but rate-sensitive investors should monitor debt costs. Overall, EXR fits moderate-risk income strategies, balancing yield with operational resilience.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer. Disclaimers and Limitations