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Stocks/Real Estate/Self-Storage REITs

Extra Space StorageEXR

Self-Storage REITs · Salt Lake City, Utah · In the S&P 500
Solid business
$151.32+0.95%After hours: $151.32 (0.00%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 6.7% over 1 year
Extra Space Storage over 1 yearDaily close, $, to 30 Oct 2026
$130$140Nov2026MarMayJulSep$151.32$130$140NovMarJul$151.32
Source: Nasdaq daily closes
Market value$31.61B
Price to earnings33.5x
Forward P/E32.4x
Dividend yield4.28%
Year to date+16.2%
One year+6.7%
Next earningsNot scheduled
SectorReal Estate
52-week range (closes)
$126.69$152.85

Quality and valuation

How Extra Space Storage compares with other real estate stocks. A description, not a recommendation.

Extra Space Storage and 7 self-storage reits peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: in line with its sector

An average business among real estate companies, priced about in line with them.

Extra Space Storage trades at 32.4 times the next 12 months of expected earnings, against a median of 35.1x for the 30 real estate stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +4.1% vs +5.5%
  • More profitable (operating margin): 43.8% vs 37.2%
  • Turns more of its sales into cash: 44.7% vs 36.0%
EXR trades at 32.4x forward earnings, below the sector medianForward p/e, Self-Storage REITs peers
AMT27.8xSPG31.4xEXR32.4xPSA33.0xPLD40.2xEQIX57.0xDLR76.9xWELL82.7xSector median 35.1xAMT27.8xSPG31.4xEXR32.4xPSA33.0xPLD40.2xEQIX57.0xDLR76.9xWELL82.7xSector median 35.1x
Source: CNBC quotes; Mostly Markets
At 30.4x earnings, EXR is cheaper than its average since Nov 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
40xAverage 33.8x2025202630.4x40xAverage 33.8x2025202630.4x
Source: Nasdaq prices; SEC filings

Financials

From Extra Space Storage's SEC filings, through the quarter ending 30 Sep 2026. Hover or tap a bar for its value.

Revenue grew 3.6% from a year earlierQuarterly revenue, $m, latest Q3 ’26
$0m$250m$500m$750mQ4 ’24Q2 ’25Q4 ’25$890mQ3 ’26$0m$500mQ4 ’24Q2 ’25Q4 ’25$890mQ3 ’26
Source: SEC filings
Growth slowed to +3.6% last quarterRevenue growth, year on year, %
0%2%4%Q4 ’24Q2 ’25Q4 ’253.6%Q3 ’260%2%4%Q4 ’24Q2 ’25Q4 ’253.6%Q3 ’26
Source: SEC filings
Operating margin was 44.0% last quarterOperating income as a share of revenue, %
0%20%40%Q4 ’24Q2 ’25Q4 ’2544.0%Q3 ’260%20%40%Q4 ’24Q2 ’25Q4 ’2544.0%Q3 ’26
Source: SEC filings
Free cash flow was $1.6 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $m
$0m$200m$400mQ4 ’24Q2 ’25Q4 ’25$459mQ3 ’26$0m$200m$400mQ4 ’24Q2 ’25Q4 ’25$459mQ3 ’26
Source: SEC filings
Last 12 monthsEXRSector median
Revenue growth+4.1%+5.5%
Operating margin43.8%37.2%
Free cash flow margin44.7%36.0%
Price to earnings33.5x30.3x

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Similar companies

Self-Storage REITs, by market value.

CompanyPriceTodayYTDValue
WELLWelltower$234.60+0.61%+26.4%$172B
PLDPrologis$127.98−0.03%+0.3%$122B
EQIXEquinix$1,013.70−2.22%+32.3%$100B
AMTAmerican Tower$187.78+1.02%+7.0%$87.09B
SPGSimon Property Group$217.75+0.94%+17.6%$70.45B
DLRDigital Realty$180.70−1.21%+16.8%$67.04B
PSAPublic Storage$324.77+2.43%+25.2%$60.68B
ORealty Income$56.930.00%+1.0%$53.87B