Extra Space Storage Inc
EXR Large CapReal Estate · REIT - Industrial
Updated: Jun 14, 2026, 22:19 UTC
Price Chart
Key Metrics
Valuation Analysis
About the Company
Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2025, the Company owned and/or operated 4,281 self-storage stores in 43 states and Washington, D.C. Its stores comprise approximately 2.9 million units and approximately 330.4 million square feet of rentable space operating under the Extra Space brand. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States. Extra Space Storage Inc. was incorporated in 1977 in Maryland, USA.
Extra Space Storage Inc Stock at a Glance
Extra Space Storage Inc (EXR) is currently trading at $150.60 with a market capitalization of $33.2B. The trailing P/E ratio stands at 33.92x, with a forward P/E of 31.43x. The 52-week range spans from $125.71 to $155.19; the current price is 3% below the yearly high. Year-over-year revenue growth stands at +3.8%. The net profit margin stands at 27.14%.
💰 Dividend
Extra Space Storage Inc pays an annual dividend of $6.48 per share, representing a yield of 4.3%. The payout ratio stands at 145.62%. The elevated payout ratio reflects a mature dividend policy.
📊 Analyst Rating
20 analysts rate Extra Space Storage Inc (EXR) on consensus: Buy. The average price target is $154.35, implying +2.49% from the current price. Analyst price targets range from $140.00 to $178.00.
Extra Space Storage Inc: The Investment Case in Detail
Extra Space Storage Inc (EXR) operates in the Real Estate — specifically REIT - Industrial — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.
The Bull Case
With a gross margin near 74.83%, the company sits in the top tier of its industry — these are the kinds of structural margins that protect earnings during downturns. Free cash flow is positive and net margins stand at 27.14%, meaning reported earnings translate into real cash that can fund buybacks, dividends or strategic acquisitions.
The Bear Case
Revenue growth has slowed to just 3.8%, which is below nominal GDP — the business is no longer outgrowing the broader economy. Our valuation screen flags the stock as overvalued — current multiples imply the business needs to deliver well above its recent trajectory to justify the price.
Valuation in Context
At a PEG of 6.5, investors are paying more than three times the growth rate for each unit of earnings — that pricing assumes growth not only continues but accelerates from here.
Investment Thesis: Strengths & Weaknesses
- Profitable with 27.14% net margin
- High gross margin of 74.83% — indicates pricing power
- Analyst consensus: Buy
- Solid dividend yield of 4.3%
- Positive free cash flow
- –Currently flagged as overvalued
Technical Snapshot
Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).
Risk Profile
The data points to market-like volatility.
Trading Data
💵 Dividend Info
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