Extra Space Storage Inc. (EXR) AI Stock Analysis

Extra Space Storage Inc., based in Salt Lake City, Utah, is a real estate investment trust in the S&P 500 index. As of September 30, 2020, the company owned and managed 1,906 self-storage facilities across 40 states, Washington, D.C., and Puerto Rico, comprising approximately 1.4 million storage units and 147.5 million square feet of rentable space. It provides storage solutions for personal, business, boat, and RV storage needs. Recognized as the second largest owner and operator of self-storage facilities and the largest self-storage management company in the United States, it expands through management operations, acquisitions, and developments.

Between FY2021 and FY2025, annual revenue grew from $1.61B to $3.38B, supported by annual growth rates of 16.8% in FY2021, 22.1% in FY2022, 33.0% in FY2023, and 27.6% in FY2024, before slowing to 1.2% in FY2025. Net income was $827.6M in FY2021, $860.7M in FY2022, $803.2M in FY2023, $854.7M in FY2024, and reached $974.0M in FY2025. Operating margin was 44.1% in FY2025, compared to 60.6% in FY2021. For the trailing twelve months, revenue was $3.51B with an operating margin of 45.9% and diluted earnings per share of $4.53. In the latest quarter ended June 30, 2026, revenue increased 3.8% year over year and earnings grew 6.0%.

As of June 30, 2026, Extra Space Storage held $695.2M in cash and short-term investments against $14.41B in total debt, resulting in net debt of $13.72B. Shareholders' equity was $13.26B, yielding a debt-to-equity ratio of 1.09 and a current ratio of 0.34. In FY2025, operating cash flow reached $1.85B and free cash flow was $1.83B. During FY2025, the company allocated $21.1M to capital expenditures, $149.5M to share buybacks, and $1.37B to dividend payments.

At a last close of $139.61 on October 16, 2026, Extra Space Storage trades at a trailing price-to-earnings ratio of 30.8x and a forward ratio of 29.0x. These compare with the median of its S&P 500 Real Estate peers of 30.3x trailing and 30.4x forward earnings. Its enterprise value to EBITDA ratio is 17.8x, compared to the peer median of 17.2x, while its price-to-sales multiple is 8.8x versus the peer median of 7.0x. Over the past year, the stock returned -3.8%, underperforming the 16.8% return of the S&P 500 (SPY), and over five years it returned -6.4% compared to 83.0% for SPY.

Extra Space Storage pays a quarterly dividend totaling an annual forward payout of $6.48 per share, representing a 4.64% dividend yield. The company has paid dividends for 23 consecutive years and posted an annualized 5-year dividend growth rate of 12.5%. Its payout ratio stands at 119.3%, and the most recent ex-dividend date was September 15, 2026.

Wall Street analyst ratings consist of 7 Strong Buy, 4 Buy, and 10 Hold recommendations, with no Sell or Strong Sell ratings. The mean price target is $156.50, which is 12.1% above the last closing price of $139.61. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $2.98B and EPS of $4.65, representing 1.2% EPS growth. The company beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is October 27, 2026.

This page is an AI-written research summary of Extra Space Storage Inc. (EXR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: EXR income statement, EXR balance sheet, EXR key metrics, EXR analyst forecast, EXR chart. See the EXR stock overview for the latest quote and news.