Extra Space Storage

Urbanization Trends And Ancillary Income Will Unlock Future Value

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

20 Aug 24

Updated

06 Dec 25

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

-16.3%

7D

1.5%

Loading

1Y

-16.3%

7D

1.5%

You can edit this narrative until Dec 7 1:05 AM. Then, changes will post as Updates.

Author's Valuation

US$15514.2% undervalued

AnalystConsensusTarget Fair Value

Shared on 06 Dec 25

Fair value Decreased 0.42%

EXR: Reduced Supply Will Support Future Pricing Power Despite Housing Headwinds

Analysts made a modest downward adjustment to their fair value estimate for Extra Space Storage, trimming the target by about $0.65 per share to reflect slightly softer near term revenue growth expectations, while stable margins and cautious optimism around future pricing power continue to support a constructive longer term outlook. Analyst Commentary Recent Street updates on Extra Space Storage reflect a mix of tempered optimism and lingering macro uncertainty, leading to modest adjustments to price targets but largely unchanged overall ratings.

Shared on 22 Nov 25

Fair value Decreased 1.33%

EXR: Reduced Supply Will Support Pricing Power Amid Housing Recovery Uncertainty

Analysts have slightly lowered their price target for Extra Space Storage by $2.10 to $155.65. This reflects near-term caution on the housing market, but highlights expectations that improved pricing power and resilient profit margins could support gradual growth ahead.

Shared on 27 Aug 25

Fair value Decreased 1.22%

Analysts lowered Extra Space Storage’s price target to $157.80, citing muted near-term growth prospects following weak Q2 results, reduced FFO estimates, and a lack of catalysts, despite a more favorable risk/reward and stabilized fundamentals. Analyst Commentary Bullish analysts note favorable risk/reward profile following year-to-date underperformance and see achievable 2025 outlooks with modest buy-side expectations into 2026.

Shared on 07 May 25

Fair value Decreased 5.53%

Shared on 30 Apr 25

Fair value Decreased 0.53%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 23 Apr 25

Fair value Increased 0.46%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 16 Apr 25

Fair value Decreased 2.33%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Decreased 0.035%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 02 Apr 25

Fair value Increased 0.66%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 26 Mar 25

Fair value Increased 2.11%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

Fair value Increased 3.35%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 10 Mar 25

Fair value Increased 0.35%

AnalystConsensusTarget Fair Value

US$155

14.2% undervalued

Future estimation in

% p.a.

0

Decrease

Increase

Current revenue growth rate

0.47%

Specialized REITs revenue growth rate

0.21%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

8.06%

Calculation

US$1.17b

Earnings '28

x

35.43x

PE Ratio '28

=

US$41.46b

Market Cap '28

US$41.46b

Market Cap '28

/

213.00m

No. shares '28

=

US$194.63

Share Price '28

US$194.63 Share Price '28

Discounted to 2025 @ 8.05% p.a.

=

US$154.27

Fair Value '25