Overview Dividends

(EXR) Extra Space Storage - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US30225T1025

Self-Storage, Boat Storage, RV Storage, Business Storage

EXR EPS (Earnings per Share)

EPS Growth (3Y CAGR): -21.54%
EPS Trend (3Y Correlation): -55.1%

EXR Revenue

Revenue Growth (3Y CAGR): 15.94%
Revenue Trend (3Y Correlation): 77.5%

Risk via 10d forecast
Volatility	27.5%
Value at Risk 5%th	42.4%

Reward
Sharpe Ratio	-0.70
Alpha Jensen	-36.11

Character
Hurst Exponent	0.583
Beta	1.270

Drawdowns 3y
Max DD	37.00%
Mean DD	12.77%

Description: EXR Extra Space Storage October 14, 2025

Extra Space Storage Inc. (NYSE: EXR) is a self-administered REIT that operates the nation’s largest portfolio of self-storage facilities, with 4,179 sites across 43 states and Washington, D.C. as of June 30 2025. The network comprises roughly 2.9 million storage units and 321.5 million rentable square feet, branded under the Extra Space name, and includes specialty offerings such as boat, RV, and business storage.

**Key operational metrics (FY 2024)** – The company reported an average occupancy rate of ≈ 95 % and a same-store net operating income (NOI) growth of ≈ 7 % YoY, driven by modest rent-per-square-foot increases of about 3 % and a continued shift toward higher-margin specialty units. These figures are consistent with the sector’s historical occupancy range of 93-96 % and suggest a resilient demand backdrop.

**Economic and sector drivers** – Demand for self-storage remains positively correlated with two macro trends: (1) the ongoing “housing churn” caused by younger millennials moving more frequently, and (2) the expansion of e-commerce, which fuels inventory-overflow needs for small-to-medium businesses. Both trends have historically contributed to a sector-wide rent-growth base rate of roughly 2-4 % annually, independent of company-specific actions.

**Financial positioning** – As of the latest filing, EXR carried a net debt-to-EBITDA ratio of ≈ 5.5×, with a weighted-average debt maturity extending to 2029. This leverage level is slightly above the self-storage industry median of ≈ 5.0×, implying modest refinancing risk if interest rates remain elevated. The REIT’s dividend yield hovered around 3.5 % in 2024, supported by its policy of returning at least 75 % of adjusted FFO to shareholders.

For a deeper quantitative breakdown, the ValueRay platform offers a granular model of EXR’s cash-flow assumptions and sensitivity analyses.

EXR Stock Overview

Market Cap in USD	29,512m
Sub-Industry	Self-Storage REITs
IPO / Inception	2004-08-12
Return 12m vs S&P 500	-26.5%
Analyst Rating	3.65 of 5

EXR Dividends

Dividend Yield	4.89%
Yield on Cost 5y	6.63%
Yield CAGR 5y	15.83%
Payout Consistency	96.7%
Payout Ratio	144.6%

EXR Growth Ratios

CAGR	-1.35%
CAGR/Max DD Calmar Ratio	-0.04
CAGR/Mean DD Pain Ratio	-0.11
Current Volume	1531.9k
Average Volume	1055.3k

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (953.0m TTM) > 0 and > 6% of Revenue (6% = 198.0m TTM)

FCFTA 0.06 (>2.0%) and ΔFCFTA 0.21pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -13.29% (prev -0.11%; Δ -13.18pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.06 (>3.0%) and CFO 1.89b > Net Income 953.0m (YES >=105%, WARN >=100%)

Net Debt (13.55b) to EBITDA (2.21b) ratio: 6.12 <= 3.0 (WARN <= 3.5)

Current Ratio 0.20 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (211.9m) change vs 12m ago -3.80% (target <= -2.0% for YES)

Gross Margin 67.73% (prev 76.18%; Δ -8.45pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 11.52% (prev 11.80%; Δ -0.28pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 1.23 (EBITDA TTM 2.21b / Interest Expense TTM 1.21b) >= 6 (WARN >= 3)

Altman Z'' 0.02

(A) -0.02 = (Total Current Assets 111.9m - Total Current Liabilities 550.5m) / Total Assets 29.23b

(B) -0.04 = Retained Earnings (Balance) -1.25b / Total Assets 29.23b

(D) -0.08 = Book Value of Equity -1.25b / Total Liabilities 14.74b

Total Rating: 0.02 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 59.64

1. Piotroski 4.0pt = -1.0

2. FCF Yield 4.38% = 2.19

3. FCF Margin 57.15% = 7.50

4. Debt/Equity 1.00 = 2.02

5. Debt/Ebitda 6.12 = -2.50

6. ROIC - WACC (= -1.77)% = -2.21

7. RoE 6.90% = 0.58

8. Rev. Trend 77.51% = 5.81

9. EPS Trend -55.13% = -2.76

What is the price of EXR shares?

As of November 13, 2025, the stock is trading at USD 132.63 with a total of 1,531,873 shares traded.
Over the past week, the price has changed by -0.29%, over one month by -8.54%, over three months by -1.06% and over the past year by -14.78%.

Is Extra Space Storage a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, Extra Space Storage is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 59.64 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of EXR is around 122.52 USD . This means that EXR is currently overvalued and has a potential downside of -7.62%.

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.

Strong Buy: 4
Buy: 5
Hold: 11
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the EXR price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	157.1	18.4%
Analysts Target Price	157.1	18.4%
ValueRay Target Price	138.2	4.2%

EXR Fundamental Data Overview November 11, 2025

Market Cap USD = 29.51b (29.51b USD * 1.0 USD.USD)
P/E Trailing = 29.7942
P/E Forward = 29.0698
P/S = 8.6243
P/B = 2.1774
P/EG = 3.6448
Beta = 1.27
Revenue TTM = 3.30b USD
EBIT TTM = 1.49b USD
EBITDA TTM = 2.21b USD
Long Term Debt = 10.96b USD (from longTermDebt, last fiscal year)
Short Term Debt = 771.4m USD (from shortTermDebt, last quarter)
Debt = 13.66b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 13.55b USD (from netDebt column, last quarter)
Enterprise Value = 43.06b USD (29.51b + Debt 13.66b - CCE 111.9m)
Interest Coverage Ratio = 1.23 (Ebit TTM 1.49b / Interest Expense TTM 1.21b)
FCF Yield = 4.38% (FCF TTM 1.89b / Enterprise Value 43.06b)
FCF Margin = 57.15% (FCF TTM 1.89b / Revenue TTM 3.30b)
Net Margin = 28.88% (Net Income TTM 953.0m / Revenue TTM 3.30b)
Gross Margin = 67.73% ((Revenue TTM 3.30b - Cost of Revenue TTM 1.06b) / Revenue TTM)
Gross Margin QoQ = 39.54% (prev 70.94%)
Tobins Q-Ratio = 1.47 (Enterprise Value 43.06b / Total Assets 29.23b)
Interest Expense / Debt = 5.49% (Interest Expense 749.8m / Debt 13.66b)
Taxrate = -42.66% (negative due to tax credits) (-53.2m / 124.8m)
NOPAT = 2.12b (EBIT 1.49b * (1 - -42.66%)) [negative tax rate / tax credits]
Current Ratio = 0.20 (Total Current Assets 111.9m / Total Current Liabilities 550.5m)
Debt / Equity = 1.00 (Debt 13.66b / totalStockholderEquity, last quarter 13.62b)
Debt / EBITDA = 6.12 (Net Debt 13.55b / EBITDA 2.21b)
Debt / FCF = 7.18 (Net Debt 13.55b / FCF TTM 1.89b)
Total Stockholder Equity = 13.81b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.26% (Net Income 953.0m / Total Assets 29.23b)
RoE = 6.90% (Net Income TTM 953.0m / Total Stockholder Equity 13.81b)
RoCE = 6.01% (EBIT 1.49b / Capital Employed (Equity 13.81b + L.T.Debt 10.96b))
RoIC = 8.02% (NOPAT 2.12b / Invested Capital 26.46b)
WACC = 9.79% (E(29.51b)/V(43.17b) * Re(10.69%) + D(13.66b)/V(43.17b) * Rd(5.49%) * (1-Tc(-0.43)))
Discount Rate = 10.69% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -1.85%
[DCF Debug] Terminal Value 72.77% ; FCFE base≈1.83b ; Y1≈2.19b ; Y5≈3.48b
Fair Price DCF = 181.7 (DCF Value 38.57b / Shares Outstanding 212.2m; 5y FCF grow 20.92% → 3.0% )
EPS Correlation: -55.13 | EPS CAGR: -21.54% | SUE: -2.33 | # QB: 0
Revenue Correlation: 77.51 | Revenue CAGR: 15.94% | SUE: 0.26 | # QB: 0

Additional Sources for EXR Stock

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