Extra Space Storage Inc.

Extra Space Storage Inc.

EXR

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Market Cap$31.28B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Extra Space Storage Inc.Extra Space Storage Inc.32.74.38%7%9.31.1

Earnings Call Q2 2026

July 29, 2026 - AI Summary

Strong Q2 operating performance (supports raised outlook): - Core FFO: $2.15/share, +4.9% YoY. - Same-store revenue: +2.4% YoY, accelerated from Q1; exceeded internal projections. - Same-store NOI: +3.5% YoY, with 230 bps of acceleration; driven by modestly declining same-store expenses YoY (better-than-expected cost discipline).
Guidance raised for full-year 2026 (key forecast ranges): - Core FFO: $8.25–$8.40/share (raised). - Same-store revenue growth: 1%–2% (raised +100 bps). - Same-store NOI growth: +0.5%–+2.5% (raised +200 bps). - L.A. price restriction assumption refined: now implies only ~20–30 bps headwind for the year vs prior ~40 bps (helps results, but not a huge driver).
Demand/supportive setup, but revenue growth slope likely “tougher” in 2H comps: - Management says customer demand is steady (no meaningful pickup in housing mobility, but storage need remains). - Micro and MSA supply is declining broadly—seen as the main tailwind supporting the recovery. - No clear evidence of macro-driven customer weakness yet (July tracking similar to June), but they still embedded macro conservatism in guidance. - Back-half caution: comps get harder; depending on where you land in the guidance range, it can imply some deceleration vs the acceleration seen earlier in 1H.

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$157.75

Target Price by Analysts

6.6% upsideExtra Space Storage Target Price DetailsTarget Price
$142.45

Current Fair Value

3.8% downside

Overvalued by 3.8% based on the discounted cash flow analysis.

Share Statistics

Market cap$31.28 Billion
Enterprise Value$44.99 Billion
Dividend Yield$6.48 (4.38%)
Earnings per Share$4.59
Beta1.2
Outstanding Shares210,929,737

Return

Return on Equity7.22%ROE
Return on Assets3.23%
Return on Invested Capital3.79%

Valuation & Multiples

P/E Ratio32.68P/E Ratio
PEG593.97PEG
Price to Sales9.25Price to Sales
Price to Book Ratio2.21Price to Book Ratio
Enterprise Value to Revenue13.13
Enterprise Value to EBIT43.04
Enterprise Value to Net Income46
Total Debt to Enterprise0.32
Debt to Equity1.09Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 29, 2026
EPS Estimate
$1.16
Average shareholder expectation
Revenue Estimate
$864.93 M
Average shareholder expectation

Next Earnings Call

Expected Date
August 4, 2026
EPS Estimate
$1.17
Average shareholder expectation
Revenue Estimate
$866.09 M
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 49.55%
Total Calls-▼ 100.00%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %3.37%▼ 91.85%
Total Invested$1.02B▼ 96.15%
Investors Holding276▼ 500.00%

ESG Score

No data

About Extra Space Storage Inc.

Relevant Senate Committees

Joint Committee on Taxation

This committee's role in assisting tax-writing committees and providing revenue estimates for tax legislation is critical. Its analyses and recommendations directly influence the tax structures and policies that are highly relevant to Extra Space Storage as a REIT.

Finance

As the primary committee for taxation, this committee's decisions on corporate tax policy, capital gains, and specific REIT tax regulations directly and significantly impact Extra Space Storage's profitability, cash flow, and attractiveness to investors.

Banking, Housing, and Urban Affairs

This committee directly regulates the financial system, including the SEC, and has significant oversight over housing and urban affairs. As a REIT, Extra Space Storage is fundamentally a real estate company operating as a financial vehicle, making this committee's decisions on financial regulation, real estate markets, and capital requirements highly relevant.