EXR Stock Analysis: Extra Space Storage | NYSE
REIT - Industrial | NYSE, USA | Market Cap: 31.947m USD | 12M Return: 17.6% | US30225T1025 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 172M
EPS Trend: 48.5%
Qual. Beats: 0
Rev. Trend: 78.9%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Extra Space Storage Inc. (NYSE: EXR) is a self-administered and self-managed real estate investment trust (REIT) headquartered in Salt Lake City, Utah, and a member of the S&P 500. The company operates as the largest owner and operator of self-storage properties in the United States, with facilities spanning 42 states and Washington, D.C. Extra Space Storage offers a range of storage solutions, including standard units, boat storage, RV storage, and business storage, serving both individual and commercial customers. The company was incorporated in 1977 in Maryland and completed its IPO in August 2004.
As a self-storage REIT, Extra Space Storage generates the majority of its revenue from rental income on individual storage units leased to tenants, typically on a month-to-month basis. The self-storage sector is generally regarded as a defensive real estate subsector, with demand often driven by life transition events such as moving, downsizing, or business relocations, which can provide relatively stable occupancy through various economic cycles.
- Same-store revenue growth driven by occupancy and rate gains
- Acquisition pipeline expands portfolio across key Sun Belt markets
- Interest rate cuts pressure cap rates but lower borrowing costs
| Net Income: 1.04b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.35 > 1.0 |
| NWC/Revenue: -49.96% < 20% (prev 13.86%; Δ -63.82% < -1%) |
| CFO/TA 0.07 > 3% & CFO 1.90b > Net Income 1.04b |
| Net Debt (14.8b) to EBITDA (2.73b): 5.43 < 3 |
| Current Ratio: 0.06 > 1.5 & < 3 |
| Outstanding Shares: last quarter (220.0m) vs 12m ago 3.83% < -2% |
| Gross Margin: 31.47% > 18% (prev 67.73%; Δ -36.25% > 0.5%) |
| Asset Turnover: 12.16% > 50% (prev 11.29%; Δ 0.87% > 0%) |
| Interest Coverage Ratio: 2.19 > 6 (EBIT TTM 1.99b / Interest Expense TTM 906.5m) |
| A: -0.06 (Total Current Assets 114.8m - Total Current Liabilities 1.88b) / Total Assets 29.0b |
| B: -0.07 (Retained Earnings -2.05b / Total Assets 29.0b) |
| C: 0.07 (EBIT TTM 1.99b / Avg Total Assets 29.1b) |
| D: 0.85 (Book Value of Equity 12.8b / Total Liabilities 15.2b) |
| Altman-Z'' = 0.72 = B |
As of November 01, 2026, the stock is trading at USD 151.32 with a total of 1,704,006 shares traded. Over the past week, the price has changed by +5.52%, over one month by +13.36%, over three months by +3.30% and over the past year by +17.56%.
Current recommended Stop Loss: 143.00 (which is 5.5% or 2.7 ATR below the current price).
Extra Space Storage has received a consensus analysts rating of 3.86. Therefore, it is recommended to buy EXR.
- StrongBuy: 7
- Buy: 4
- Hold: 10
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 156.5 | 3.4% |
P/E Trailing = 31.8833
P/E Forward = 31.25
P/S = 9.0987
P/B = 2.3035
P/EG = 5.7409
Revenue TTM = 3.54b USD
EBIT TTM = 1.99b USD
EBITDA TTM = 2.73b USD
Long Term Debt = 12.0b USD (from longTermDebt, last fiscal year)
Short Term Debt = 1.42b USD (from shortTermDebt, last quarter)
Debt = 14.9b USD (from shortLongTermDebtTotal, last quarter) + Leases 769.7m
Net Debt = 14.8b USD (calculated: Debt 14.9b - CCE 114.8m)
Enterprise Value = 46.8b USD (31.9b + Debt 14.9b - CCE 114.8m)
Interest Coverage Ratio = 2.19 (Ebit TTM 1.99b / Interest Expense TTM 906.5m)
EV/FCF = 26.53x (Enterprise Value 46.8b / FCF TTM 1.76b)
FCF Yield = 3.77% (FCF TTM 1.76b / Enterprise Value 46.8b)
FCF Margin = 49.83% (FCF TTM 1.76b / Revenue TTM 3.54b)
Net Margin = 29.27% (Net Income TTM 1.04b / Revenue TTM 3.54b)
Gross Margin = 31.47% ((Revenue TTM 3.54b - Cost of Revenue TTM 2.42b) / Revenue TTM)
Gross Margin QoQ = 71.14% (prev 50.28%)
Tobins Q-Ratio = 1.61 (Enterprise Value 46.8b / Total Assets 29.0b)
Interest Expense / Debt = 6.07% (Interest Expense 906.5m / Debt 14.9b)
Taxrate = 4.45% (12.1m / 271.5m)
NOPAT = 1.90b (EBIT 1.99b * (1 - 4.45%))
Current Ratio = 0.06 (Total Current Assets 114.8m / Total Current Liabilities 1.88b)
Debt / Equity = 1.16 (Debt 14.9b / totalStockholderEquity, last quarter 12.8b)
Debt / EBITDA = 5.43 (Net Debt 14.8b / EBITDA 2.73b)
Debt / FCF = 8.41 (Net Debt 14.8b / FCF TTM 1.76b)
Total Stockholder Equity = 13.2b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.56% (Net Income 1.04b / Total Assets 29.0b)
RoE = 7.84% (Net Income TTM 1.04b / Total Stockholder Equity 13.2b)
RoCE = 7.89% (EBIT 1.99b / Capital Employed (Equity 13.2b + L.T.Debt 12.0b))
RoIC = 6.70% (NOPAT 1.90b / Invested Capital 28.4b)
WACC = 6.00% (E(31.9b)/V(46.9b) * Re(6.10%) + D(14.9b)/V(46.9b) * Rd(6.07%) * (1-Tc(0.04)))
Discount Rate = 6.10% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 59.28 | Cagr: 1.75%
[DCF] Terminal Value 74.54% ; FCFF base≈1.81b ; Y1≈1.72b ; Y5≈1.64b
[DCF] Fair Price = 51.68 (EV 25.7b - Net Debt 14.8b = Equity 10.9b / Shares 211.3m; r=8.35% [WACC [floored]]; 5y FCF grow -6.34% → 2.50% )
EPS Correlation: 48.53 | EPS CAGR: 8.72% | SUE: 0.32 | # QB: 0
Revenue Correlation: 78.90 | Revenue CAGR: 7.56% | SUE: 0.74 | # QB: 0
EPS current Quarter (2027-03-31): EPS=1.14 | Chg30d=+1.33% | Revisions=+17% | Analysts=4
EPS current Year (2026-12-31): EPS=4.65 | Chg30d=-0.03% | Revisions=+40% | GrowthEPS=+1.3% | GrowthRev=+2.9%
EPS next Year (2027-12-31): EPS=4.80 | Chg30d=+0.58% | Revisions=-29% | GrowthEPS=+3.3% | GrowthRev=+2.8%
[Analyst] Revisions Ratio: +8% (up=5, down=4)