Extra Space Storage Inc
NYSE:EXR

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Extra Space Storage Inc
NYSE:EXR
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Price: 164.14 USD 1.92% Market Closed
Market Cap: 34.8B USD
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Intrinsic Value

The intrinsic value of one EXR stock under the Base Case scenario is 139.7 USD. Compared to the current market price of 164.14 USD, Extra Space Storage Inc is Overvalued by 15%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

EXR Intrinsic Value
139.7 USD
Overvaluation 15%
Intrinsic Value
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Base Case
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Extra Space Storage Inc

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Business Breakdown

Extra Space Storage Inc. is a leading provider of self-storage solutions, operating more than 2,300 facilities across the United States. Founded in 1977, the company has established a strong presence in the real estate sector, emphasizing innovation and customer service in an industry that has shown consistent demand. Over the years, Extra Space Storage has expanded through both acquisitions and the development of new properties, all while maintaining a focus on optimizing its portfolio for long-term growth. With a diverse customer base—from individuals needing extra space for personal belongings to businesses seeking storage for inventory—Extra Space Storage has positioned itself as a go-to...

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Extra Space Storage Inc

Current Assets 333.6m
Cash & Short-Term Investments 77m
Receivables 164.1m
Other Current Assets 92.6m
Non-Current Assets 27.4B
Long-Term Investments 1.4B
PP&E 24.6B
Intangibles 268.3m
Other Non-Current Assets 1.2B
Current Liabilities 611m
Accounts Payable 381.9m
Accrued Liabilities 229m
Non-Current Liabilities 13B
Long-Term Debt 11.5B
Other Non-Current Liabilities 1.5B
Efficiency

Earnings Waterfall
Extra Space Storage Inc

Revenue
3.2B USD
Cost of Revenue
-860.1m USD
Gross Profit
2.3B USD
Operating Expenses
-900.6m USD
Operating Income
1.4B USD
Other Expenses
-593.2m USD
Net Income
802.1m USD

Free Cash Flow Analysis
Extra Space Storage Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In the third quarter, Extra Space Storage reported a solid performance with same-store occupancy reaching 94.3%, an improvement of 80 basis points year-over-year. The company raised its revenue guidance midpoint by 0.125% while adjusting its expense guidance upward by 0.25%. Year-to-date, 124 net stores have been added, with an expectation of about 100 more by year-end, marking a record year for net additions. However, revenue expectations for Life Storage fell 0.5% due to weak new customer pricing. Overall, management remains optimistic for a market recovery in 2025.

What is Earnings Call?
Fundamental Scores

EXR Profitability Score
Profitability Due Diligence

Extra Space Storage Inc's profitability score is 65/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Operating Income
Positive Net Income
Exceptional 3-Years Revenue Growth
65/100
Profitability
Score

Extra Space Storage Inc's profitability score is 65/100. The higher the profitability score, the more profitable the company is.

EXR Solvency Score
Solvency Due Diligence

Extra Space Storage Inc's solvency score is 31/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Low D/E
Low Altman Z-Score
Short-Term Solvency
31/100
Solvency
Score

Extra Space Storage Inc's solvency score is 31/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

EXR Price Targets Summary
Extra Space Storage Inc

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 179.14 USD with a low forecast of 156.55 USD and a high forecast of 212.1 USD.

Lowest
Price Target
156.55 USD
5% Downside
Average
Price Target
179.14 USD
9% Upside
Highest
Price Target
212.1 USD
29% Upside
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Dividends

Dividend Yield
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Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
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0
25
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100
Shareholder Yield

Current shareholder yield for EXR is .

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Shareholder Yield
Dividend Yield
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Buyback Yield
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Highest
Debt Paydown Yield
Lowest
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Highest

EXR News

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Extra Space Storage Inc Logo
Extra Space Storage Inc

Country

United States of America

Industry

Real Estate

Market Cap

34.8B USD

Dividend Yield

3.95%

Description

Extra Space Storage, Inc. is a real estate investment trust. The company is headquartered in Salt Lake City, Utah and currently employs 4,309 full-time employees. The company went IPO on 2004-08-12. The firm owns, operates, manages, acquires, develops and redevelops self-storage properties, or stores. The firm operates through two segments: self-storage operations and tenant reinsurance. Its self-storage operations activities include rental operations of wholly owned stores. Its tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in its stores. The Company’s business is conducted through its operating partnership, Extra Space Storage LP (the Operating Partnership). The company invests in stores by acquiring wholly owned stores or by acquiring an equity interest in real estate entities. The firm has direct and indirect interests in approximately 1,268 storage facilities. In addition, the Company managed 828 stores for third parties bringing the total number of stores which it owns and/or manages to 2,096.

Contact

UTAH
Salt Lake City
2795 E Cottonwood Pkwy Ste 400
+18015625556.0
www.extraspace.com

IPO

2004-08-12

Employees

4 309

Officers

CEO & Director
Mr. Joseph Daniel Margolis J.D.
Executive VP & CFO
Mr. P. Scott Stubbs CPA
Executive VP & Chief Investment Officer
Mr. Zachary Dickens
Executive VP & Chief Marketing Officer
Mr. Samrat Sondhi
Executive VP and Chief Strategy & Partnership Officer
Mr. Noah Springer
Executive VP & COO
Mr. Matthew T. Herrington
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Senior VP of Accounting & Finance and Corporate Controller
Ms. Grace Kunde
Executive VP & Chief Legal Officer
Ms. Gwyn Goodson McNeal
Senior Vice President of Operations
Mr. Timothy Arthurs
Senior Vice President of Capital Markets
Mr. Jeffrey Norman
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See Also

Discover More
What is the Intrinsic Value of one EXR stock?

The intrinsic value of one EXR stock under the Base Case scenario is 139.7 USD.

Is EXR stock undervalued or overvalued?

Compared to the current market price of 164.14 USD, Extra Space Storage Inc is Overvalued by 15%.

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