(EXR) Extra Space Storage - Overview

Sector: Real Estate | Industry: REIT - Industrial | Exchange: NYSE (USA) | Market Cap: 31.625m USD | Total Return: -3.6% in 12m

Self-Storage Units, Vehicle Storage, Business Storage, Property Management
Total Rating 34
Safety 45
Buy Signal -1.04
REIT - Industrial
Industry Rotation: -0.9
Market Cap: 31.6B
Avg Turnover: 159M
Risk 3d forecast
Volatility32.2%
VaR 5th Pctl5.47%
VaR vs Median2.99%
Reward TTM
Sharpe Ratio-0.19
Rel. Str. IBD29.4
Rel. Str. Peer Group47.9
Character TTM
Beta0.389
Beta Downside0.406
Hurst Exponent0.678
Drawdowns 3y
Max DD33.78%
CAGR/Max DD0.05
CAGR/Mean DD0.13
EPS (Earnings per Share) EPS (Earnings per Share) of EXR over the last years for every Quarter: "2021-03": 1.53, "2021-06": 1.25, "2021-09": 1.4, "2021-12": 2, "2022-03": 1.51, "2022-06": 1.64, "2022-09": 1.65, "2022-12": 1.52, "2023-03": 1.46, "2023-06": 1.5, "2023-09": 0.96, "2023-12": 1.02, "2024-03": 1.01, "2024-06": 1.19, "2024-09": 0.91, "2024-12": 1.24, "2025-03": 1.28, "2025-06": 1.18, "2025-09": 0.78, "2025-12": 1.36, "2026-03": 1.14,
EPS CAGR: -9.24%
EPS Trend: -54.6%
Last SUE: 0.04
Qual. Beats: 0
Revenue Revenue of EXR over the last years for every Quarter: 2021-03: 365.813, 2021-06: 386.952, 2021-09: 420.747, 2021-12: 436.208, 2022-03: 452.659, 2022-06: 485.178, 2022-09: 510.051, 2022-12: 517.71, 2023-03: 513.355, 2023-06: 524.64, 2023-09: 763.077, 2023-12: 814.007, 2024-03: 814.546, 2024-06: 827.918, 2024-09: 854.78, 2024-12: 840.66, 2025-03: 839.928, 2025-06: 841.618, 2025-09: 777.563, 2025-12: 918.433, 2026-03: 856.027,
Rev. CAGR: 16.35%
Rev. Trend: 85.5%
Last SUE: 0.67
Qual. Beats: 0

Warnings

Altman Z'' 0.24 < 1.0 - financial distress zone

Choppy

Tailwinds

No distinct edge detected

Description: EXR Extra Space Storage

Extra Space Storage Inc. (EXR) is a Salt Lake City-based Real Estate Investment Trust (REIT) and the largest operator of self-storage properties in the United States. As a member of the S&P 500, the company manages a portfolio of 4,281 stores across 43 states, totaling approximately 330.4 million square feet of rentable space. Its offerings include standardized storage units alongside specialized solutions for vehicles and commercial inventory.

The self-storage sector typically benefits from low capital expenditure requirements compared to other REIT sub-industries, as units require minimal interior finishes. Revenue in this business model is driven by high-margin monthly rental agreements, which allow operators to adjust pricing frequently in response to local market demand. Analyzing historical performance trends on ValueRay can provide further clarity on the companys valuation.

Founded in 1977, the firm operates as a self-administered and self-managed entity, overseeing 2.9 million individual units. This integrated management structure allows for direct control over property operations and branding across its extensive national footprint.

Headlines to Watch Out For
  • Interest rate fluctuations impact cost of capital and real estate acquisition cap rates
  • High occupancy levels and rental rate increases drive core same-store revenue growth
  • Life Storage merger integration yields significant operational synergies and improved economies of scale
  • Third-party management fees provide high-margin revenue streams with minimal capital expenditure
  • Housing market turnover and consumer migration patterns dictate regional storage demand volume
Piotroski VR‑10 (Strict) 4.0
Net Income: 944.1m TTM > 0 and > 6% of Revenue
FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.47 > 1.0
NWC/Revenue: -6.95% < 20% (prev 9.69%; Δ -16.64% < -1%)
CFO/TA 0.06 > 3% & CFO 1.86b > Net Income 944.1m
Net Debt (13.80b) to EBITDA (3.19b): 4.32 < 3
Current Ratio: 0.37 > 1.5 & < 3
Outstanding Shares: last quarter (220.3m) vs 12m ago 3.90% < -2%
Gross Margin: 27.87% > 18% (prev 0.76%; Δ 2.71k% > 0.5%)
Asset Turnover: 11.68% > 50% (prev 11.60%; Δ 0.08% > 0%)
Interest Coverage Ratio: 1.65 > 6 (EBITDA TTM 3.19b / Interest Expense TTM 1.49b)
Altman Z'' 0.24
A: -0.01 (Total Current Assets 139.0m - Total Current Liabilities 374.8m) / Total Assets 29.10b
B: -0.05 (Retained Earnings -1.55b / Total Assets 29.10b)
C: 0.09 (EBIT TTM 2.47b / Avg Total Assets 29.05b)
D: -0.10 (Book Value of Equity -1.55b / Total Liabilities 14.89b)
Altman-Z'' Score: 0.24 = B
Beneish M -2.74
DSRI: 0.08 (Receivables 115.4m/1.49b, Revenue 3.39b/3.36b)
GMI: 2.74 (GM 27.87% / 76.41%)
AQI: 0.15 (AQ_t 0.14 / AQ_t-1 0.91)
SGI: 1.01 (Revenue 3.39b / 3.36b)
TATA: -0.03 (NI 944.1m - CFO 1.86b) / TA 29.10b)
Beneish M-Score: -2.74 (Cap -4..+1) = A
What is the price of EXR shares? As of May 17, 2026, the stock is trading at USD 136.90 with a total of 974,913 shares traded.
Over the past week, the price has changed by -4.47%, over one month by -2.95%, over three months by -6.33% and over the past year by -3.56%.
Is EXR a buy, sell or hold? Extra Space Storage has received a consensus analysts rating of 3.65. Therefor, it is recommend to hold EXR.
  • StrongBuy: 4
  • Buy: 5
  • Hold: 11
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the EXR price?
Analysts Target Price 152.4 11.3%
Extra Space Storage (EXR) - Fundamental Data Overview as of 17 May 2026
P/E Trailing = 32.13
P/E Forward = 32.7869
P/S = 9.0919
P/B = 2.2707
P/EG = 6.1871
Revenue TTM = 3.39b USD
EBIT TTM = 2.47b USD
EBITDA TTM = 3.19b USD
Long Term Debt = 12.02b USD (from longTermDebt, last quarter)
Short Term Debt = 1.15b USD (from shortLongTermDebt, last quarter)
Debt = 13.94b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 13.80b USD (from netDebt column, last quarter)
Enterprise Value = 45.43b USD (31.63b + Debt 13.94b - CCE 139.0m)
Interest Coverage Ratio = 1.65 (Ebit TTM 2.47b / Interest Expense TTM 1.49b)
EV/FCF = 25.90x (Enterprise Value 45.43b / FCF TTM 1.75b)
FCF Yield = 3.86% (FCF TTM 1.75b / Enterprise Value 45.43b)
FCF Margin = 51.68% (FCF TTM 1.75b / Revenue TTM 3.39b)
Net Margin = 27.82% (Net Income TTM 944.1m / Revenue TTM 3.39b)
Gross Margin = 27.87% ((Revenue TTM 3.39b - Cost of Revenue TTM 2.45b) / Revenue TTM)
Gross Margin QoQ = 70.07% (prev -60.83%)
Tobins Q-Ratio = 1.56 (Enterprise Value 45.43b / Total Assets 29.10b)
Interest Expense / Debt = 1.15% (Interest Expense 159.9m / Debt 13.94b)
Taxrate = 4.10% (10.8m / 263.2m)
NOPAT = 2.37b (EBIT 2.47b * (1 - 4.10%))
Current Ratio = 0.37 (Total Current Assets 139.0m / Total Current Liabilities 374.8m)
Debt / Equity = 1.05 (Debt 13.94b / totalStockholderEquity, last quarter 13.33b)
Debt / EBITDA = 4.32 (Net Debt 13.80b / EBITDA 3.19b)
Debt / FCF = 7.87 (Net Debt 13.80b / FCF TTM 1.75b)
Total Stockholder Equity = 13.54b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.25% (Net Income 944.1m / Total Assets 29.10b)
RoE = 6.97% (Net Income TTM 944.1m / Total Stockholder Equity 13.54b)
RoCE = 9.67% (EBIT 2.47b / Capital Employed (Equity 13.54b + L.T.Debt 12.02b))
RoIC = 8.91% (NOPAT 2.37b / Invested Capital 26.60b)
WACC = 5.44% (E(31.63b)/V(45.57b) * Re(7.35%) + D(13.94b)/V(45.57b) * Rd(1.15%) * (1-Tc(0.04)))
Discount Rate = 7.35% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: 24.44 | Cagr: 0.07%
[DCF] Terminal Value 87.32% ; FCFF base≈1.81b ; Y1≈2.01b ; Y5≈2.63b
[DCF] Fair Price = 300.1 (EV 77.20b - Net Debt 13.80b = Equity 63.39b / Shares 211.3m; r=6.0% [WACC]; 5y FCF grow 12.79% → 3.0% )
EPS Correlation: -54.57 | EPS CAGR: -9.24% | SUE: 0.04 | # QB: 0
Revenue Correlation: 85.46 | Revenue CAGR: 16.35% | SUE: 0.67 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.16 | Chg30d=-0.51% | Revisions=N/A | Analysts=5
EPS next Quarter (2026-09-30): EPS=1.19 | Chg30d=-1.17% | Revisions=N/A | Analysts=6
EPS current Year (2026-12-31): EPS=4.59 | Chg30d=+0.10% | Revisions=N/A | GrowthEPS=-0.1% | GrowthRev=+2.4%
EPS next Year (2027-12-31): EPS=4.78 | Chg30d=-0.90% | Revisions=-33% | GrowthEPS=+4.2% | GrowthRev=+3.0%
[Analyst] Revisions Ratio: -33%