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Target Price Range
Recommendation Rating
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 143.59 | 101.19 | 131.02 | 121.03 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 227.18 | 170.30 | 184.87 | 162.77 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,781 | 7,618 | 8,012 | 8,393 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.40 | 0.34 | 0.41 | 0.40 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,924.17 | 2,560.24 | 3,256.90 | 3,377.54 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 75.63% | 73.80% | 72.20% | 70.78% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 942.08 | 872.01 | 933.71 | 1,064.10 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 48.96% | 34.06% | 28.67% | 31.51% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 921.16 | 850.45 | 900.23 | 1,022.54 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 297.09 | 525.00 | 799.70 | 727.11 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.35 | 15.13 | 15.39 | 15.94 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | 6.41 | 4.74 | 4.03 | 4.59 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.24 | 8.29 | 8.92 | 8.73 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (9.97) | (2.57) | (3.19) | (3.41) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.74) | 5.72 | 5.73 | 5.32 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 30.42 | 91.09 | 70.23 | 67.61 | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 134.05 | 169.22 | 211.58 | 211.85 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 22.48 | 33.28 | 37.03 | 28.31 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.05 | 10.87 | 9.72 | 8.17 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.74 | 1.80 | 2.13 | 1.93 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.03 | 15.23 | 13.54 | 12.12 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (273.23) | 40.29 | 36.35 | 36.28 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,238.14 | 1,402.47 | 1,887.43 | 1,850.19 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,336.97) | (434.75) | (674.74) | (722.25) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (98.84) | 967.72 | 1,212.69 | 1,127.95 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (78.81) | (235.46) | (208.30) | (218.66) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,755.46 | 11,016.75 | 12,322.02 | 13,230.65 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7,662.59 | 10,917.69 | 12,183.80 | 13,091.73 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4,078.27 | 15,413.95 | 14,859.36 | 14,324.04 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.59% | 4.05% | 3.04% | 3.35% | — | — | — |
ROA
|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.59% | 2.78% | 3.06% | 3.22% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 21.86% | 8.24% | 5.65% | 6.68% | — | — | — |
ROE
|
Analyst Commentary (Summary)
Extra Space Storage Inc (EXR) Latest News
29 Jul
Extra Space Storage Inc held Q2 earnings call covering financial results, operational metrics and outlook. Q2 earnings details typically deliver moderate updates on performance and guidance.
Extra Space Storage Inc reported Q2 2026 earnings with core FFO beating expectations. Core FFO beat signals moderately positive effects on financial performance and market sentiment.
Extra Space Storage Inc's Q2 core FFO beat estimates on strong same-store NOI growth. Quarterly FFO beat signals positive operational results without indicating major strategic shifts.
Extra Space Storage Inc. reported Q2 2026 results on its earnings call, covering revenue, occupancy rates, same-store performance, acquisition activity, and forward guidance. Quarterly earnings data supplies updated financial metrics that can shift near-term sentiment but rarely reset long-term strategy or competitive positioning.
28 Jul
Extra Space Storage (EXR) Q2 earnings results are compared against estimates with analysis of key financial metrics. Q2 earnings metrics versus estimates can moderately shift short-term investor sentiment and valuation views.
Extra Space Storage Inc. released its second quarter 2026 financial results. Quarterly results release supplies financial metrics that shape near-term investor assessment of performance.
1 Jul
Extra Space Storage Inc (EXR) launches guaranteed senior unsecured notes offering. Notes offering supplies debt capital that may fund growth or refinancing with moderate effects on capital structure.
18 Jun
Extra Space Storage faces new supply risks that could pressure operations and growth, yet Wall Street maintains a bullish stance on the company's outlook and performance. New supply risks introduce moderate pressure on operations and positioning while balanced by sustained bullish investor views.
30 Apr
Extra Space Storage Inc (EXR) reported strong financial performance in Q1 2026 earnings call highlights. Strong Q1 2026 financial results signal significant positive impact on EXR's future performance and investor sentiment.
Extra Space Storage Inc (EXR) Q1 earnings call highlights key financial results, operational metrics, revenue growth, occupancy rates, and forward guidance amid self-storage market dynamics. Q1 earnings call highlights detail financial performance and strategic outlook significantly influencing investor sentiment and stock trajectory.
29 Apr
Extra Space Storage Inc's Q1 core FFO and revenues beat analyst estimates. Beating Q1 core FFO and revenue estimates demonstrates strong financial performance, likely enhancing investor sentiment and future market trajectory.
Extra Space Storage Inc. (EXR) released Q1 2026 earnings call summary, detailing quarterly financial performance, operational updates, and forward guidance. Q1 earnings call summary discloses key financial metrics and outlook, significantly impacting investor sentiment and stock trajectory.
Extra Space Storage (EXR) sees a shifting narrative as analysts issue mixed price targets, reshaping market expectations for its future performance. Mixed analyst targets moderately influence investor sentiment and EXR's short-to-medium term market trajectory.
28 Apr
Extra Space Storage Inc. (EXR) Q1 earnings feature key metrics compared to analyst estimates. Q1 earnings metrics versus estimates significantly impact financial performance and investor sentiment for EXR.
Extra Space Storage Inc. (EXR) reported first quarter 2026 results. Quarterly earnings reports significantly influence financial performance, stock price, and investor sentiment for EXR.
Extra Space Storage Inc. (EXR) released its Q3 2025 earnings call transcript detailing quarterly financial performance, operational updates, and management's outlook. Q3 2025 earnings transcript discloses financial results, guidance, and strategic insights that can significantly influence investor sentiment and stock performance.
Extra Space Storage Inc. (EXR) released its Q2 2025 earnings call transcript, detailing quarterly financial results, operational updates, and management's forward guidance. Q2 2025 earnings transcript discloses financial metrics, guidance, and strategic insights that can significantly sway EXR's stock performance and investor outlook.
Extra Space Storage Inc. (EXR) reported Q1 FFO and revenues surpassing analyst estimates. Q1 FFO and revenue beats demonstrate strong financial performance with moderately noticeable effects on market sentiment and trajectory.
14 Apr
Extra Space Storage Inc (EXR) earnings preview outlines analyst expectations for upcoming quarterly report, focusing on revenue growth, occupancy rates, FFO metrics, acquisition impacts, and revised guidance amid high interest rates and self-storage demand. Earnings previews shape investor expectations for financial results, potentially influencing stock price around report release.
6 Apr
Baron Capital renews its investment in Extra Space Storage Inc (EXR), potentially signaling a turning point in the company's growth narrative amid questions of recovery and expansion. Baron Capital's renewed stake highlights investor confidence in EXR's growth potential, moderately influencing market sentiment and stock performance.
17 Mar
Extra Space Storage Inc. (EXR), America's largest public storage company, is poised for major expansion through a transformative deal. EXR's expansion via a major acquisition significantly enhances its scale, market dominance, and long-term revenue potential.
16 Mar
Extra Space Storage Inc. (EXR) plans a $10.5 billion deal to merge and form the largest self-storage company in the U.S., consolidating market leadership. A $10.5 billion deal creates the U.S. self-storage giant, fundamentally redefining EXR's scale, competitive dominance, and long-term prospects.
11 Mar
Extra Space Storage (EXR) shares have swung recently, prompting a valuation check to assess investment attractiveness amid market fluctuations. Share price swings and valuation review may noticeably affect investor sentiment and short-term performance without fundamentally altering trajectory.
26 Feb
Extra Space Storage Inc (EXR) investment thesis is evolving amid changing market dynamics, operational shifts, and competitive pressures in the self-storage sector. Shifting investment story signals major strategic or market changes poised to significantly alter EXR's trajectory and investor sentiment.
23 Feb
Extra Space Storage Inc reported Q4 core FFO of $2.05 per share, beating estimates; revenue reached $645.4 million, up 13%. Acquired SmartStop Self Storage portfolio for $1.3 billion, issued $1.25 billion notes, repurchased $100 million shares. Raised 2024 core FFO guidance to $6.85-$7.00 per share amid strong demand and rate cuts. Earnings beat, acquisitions, and raised guidance significantly boost growth trajectory and investor confidence.
20 Feb
Extra Space Storage Inc (EXR) highlighted strategic growth amidst challenges in its Q4 2025 earnings call. Q4 2025 earnings call highlights strategic growth initiatives expected to significantly shape EXR's future performance and investor sentiment.
Extra Space Storage Inc. (EXR) earnings call transcript reveals quarterly financial results, revenue and NOI growth, FFO per share, acquisition progress, dividend updates, and 2024 guidance amid strong demand and operational execution. Earnings results, guidance, and strategic updates directly shape investor expectations and stock trajectory.
Extra Space Storage Inc. released Q4 2025 earnings call summary detailing financial performance, operational updates, and future guidance. Q4 earnings call summary discloses key financial metrics and strategic outlook, poised to significantly sway investor sentiment and stock trajectory.
Extra Space Storage Inc (EXR) Q4 core FFO and revenues surpassed analyst estimates. Q4 core FFO and revenue beats signal solid financial performance with moderate positive effect on investor sentiment and stock trajectory.
19 Feb
Extra Space Storage Inc. (EXR) released Q4 earnings, comparing key metrics to Wall Street estimates. Q4 earnings metrics versus estimates significantly influence investor sentiment, stock performance, and future trajectory.
Extra Space Storage Inc. (EXR), the largest U.S. self-storage REIT, has delivered explosive revenue growth from under $1 billion in 2016 to $3.26 billion in 2024—a 228% surge fueled by pandemic-driven demand and the transformative $13 billion 2023 acquisition of Life Storage. This deal catapulted EXR to over 3,700 properties, boosting scale and employee headcount by 144%, with revenue per employee rebounding to $406,503. However, it introduced challenges: shares outstanding diluted 58%, debt doubled to $12.3 billion, and ROE plummeted to 5.6%, contributing to stock volatility from 2021 pandemic highs to 2023 lows before a 2024 recovery.
Profitability remains resilient with mid-70% gross margins, a self-storage hallmark, though EBT margins contracted to 28.7% amid higher depreciation, and ROA/ROIC cooled to 3%. EPS stabilized at $4.03 in 2024 with forecasts rising to $5.07 by 2027, supported by operating cash flow doubling to $1.89 billion. Analysts predict modest revenue growth amid interest rate pressures but highlight defensive sector strength, with occupancy historically above 90%.
At ~37x trailing PE (forward 28-34x), valuations are reasonable versus peers, backing competitive dividends via $5.73 free cash flow per share. Yet, insider sells totaling $3.4 million without buys signal caution, matching neutral analyst targets (flat to +22% upside). EXR suits patient dividend investors eyeing long-term dominance, but debt risks and macro headwinds like high rates demand vigilance—explore the full analysis for deeper insights on deleveraging potential and sector resilience.