EXR

Extra Space Storage Inc

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136.860

-0.19(-0.139%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

137.225

Open

136.980

VWAP

136.85

Vol

1.22M

Mkt Cap

29.05B

Low

136.2199

Amount

166.56M

EV/EBITDA(TTM)

27.59

Total Shares

211.73M

42.72B

EV/OCF(TTM)

22.46

P/S(TTM)

8.85

Extra Space Storage, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, provides lending to, acquires, develops and redevelops self-storage properties (stores). Its stores offer month-to-month rental of storage space for personal or business use. Its segments include self-storage operations and tenant reinsurance. Its self-storage operations segment includes rental operations of wholly owned stores. Its tenant reinsurance segment includes the reinsurance of risks relating to the loss of goods stored by tenants in its stores. It owns and/or operates approximately 4,011 self-storage stores in 42 states and Washington, D.C. Its stores comprise approximately 2.8 million units and 308.4 million square feet of rentable space operating under the Extra Space brand. It offers customers a selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2026Q1

FY2025Q4

FY2025Q3

724.20M

+2.81%

1.121

-12.4%

730.60M

+3.3%

1.140

-8.04%

734.90M

+3.38%

1.193

+31.14%

Estimates Revision

The market is revising Downward the revenue expectations for Extra Space Storage Inc. (EXR) for FY2025, with the revenue forecasts being adjusted by -0.06% over the past three months. During the same period, the stock price has changed by -10.31%.

Revenue Estimates for FY2025

Revise Downward

-0.06%

In Past 3 Month

EPS Estimates for FY2025

Revise Downward

-1.83%

In Past 3 Month

Stock Price

Go Down

-10.31%

In Past 3 Month

14 Analyst Rating

11.85% Upside

Wall Street analysts forecast EXR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EXR is 153.08 USD with a low forecast of 55.00 USD and a high forecast of 178.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

5 Buy

9 Hold

0 Sell

Moderate Buy

11.85% Upside

Current: 136.860

Low

55.00

Averages

153.08

High

178.00

11.85% Upside

Current: 136.860

Low

55.00

Averages

153.08

High

178.00

Barclays

Overweight

NULL

downgrade

$178 -> $169

2025-08-08

Reason

Barclays

Price Target

$178 -> $169

2025-08-08

downgrade

Overweight

NULL

Reason

Barclays lowered the firm's price target on Extra Space Storage to $169 from $178 and keeps an Overweight rating on the shares. The firm updated the company's model post the Q2 report, drooping the target to reflect elongated supply/demand challenges in the industry and a lack of near-term catalysts.

RBC Capital

Sector Perform

downgrade

$160 -> $148

2025-08-04

Reason

RBC Capital

Price Target

$160 -> $148

2025-08-04

downgrade

Sector Perform

Reason

RBC Capital lowered the firm's price target on Extra Space Storage to $148 from $160 and keeps a Sector Perform rating on the shares. The company's results were in line, and the quarter saw an important milestone with new-lease rates up y/y for the first time since Q1 of FY22, though the management noted that the storage market has recovered more slowly than expected in 2025, the analyst tells investors in a research note.

Wells Fargo

Equal Weight

downgrade

$165 -> $160

2025-07-23

Reason

Wells Fargo

Price Target

$165 -> $160

2025-07-23

downgrade

Equal Weight

Reason

Wells Fargo lowered the firm's price target on Extra Space Storage to $160 from $165 and keeps an Equal Weight rating on the shares. The firm leans slightly more constructive on storage into earnings, with likely select guidance raises even despite choppy move-in rate data in June/July. Fundamentals appear to have bottomed, even if near-term growth is likely to remain muted, Wells adds.

BNP Paribas Exane

Neutral

initiated

$156

2025-06-24

Reason

BNP Paribas Exane

Price Target

$156

2025-06-24

initiated

Neutral

Reason

BNP Paribas Exane initiated coverage of Extra Space Storage with a Neutral rating and $156 price target.

JPMorgan

Neutral

maintain

$160 -> $162

2025-06-13

Reason

JPMorgan

Price Target

$160 -> $162

2025-06-13

maintain

Neutral

Reason

JPMorgan raised the firm's price target on Extra Space Storage to $162 from $160 and keeps a Neutral rating on the shares. The analyst updated the company's model.

Mizuho

Ravi Vaidya

Outperform

maintain

$141 -> $153

2025-05-28

Reason

Mizuho

Ravi Vaidya

Price Target

$141 -> $153

2025-05-28

maintain

Outperform

Reason

Mizuho analyst Ravi Vaidya raised the firm's price target on Extra Space Storage to $153 from $141 and keeps an Outperform rating on the shares. Self Storage earnings were characterized by sequential improvements in fundamentals, the analyst tells investors in a research note. While encouraged by the progress made in the quarter, the firm still has a Neutral view on the subsector given a lack of visibility surrounding a housing market recovery and headwinds from supply.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Extra Space Storage Inc (EXR.N) is 29.52, compared to its 5-year average forward P/E of 31.26. For a more detailed relative valuation and DCF analysis to assess Extra Space Storage Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Fair

5Y Average PE

31.26

Current PE

29.52

Overvalued PE

36.04

Undervalued PE

26.49

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

Fair

5Y Average EV/EBITDA

20.39

Current EV/EBITDA

17.63

Overvalued EV/EBITDA

23.84

Undervalued EV/EBITDA

16.93

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Fair

5Y Average PS

12.53

Current PS

9.94

Overvalued PS

15.34

Undervalued PS

9.71