Extra Space Storage Inc.

LSE:0IJV Stock Report

Market Cap: US$33.0b

Extra Space Storage Valuation

Is 0IJV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0IJV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0IJV ($148.65) is trading below our estimate of fair value ($248.17)

Significantly Below Fair Value: 0IJV is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0IJV?

Key metric: As 0IJV is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0IJV. This is calculated by dividing 0IJV's market cap by their current earnings.
What is 0IJV's PE Ratio?
PE Ratio39.3x
EarningsUS$806.89m
Market CapUS$33.00b

Price to Earnings Ratio vs Peers

How does 0IJV's PE Ratio compare to its peers?

The above table shows the PE ratio for 0IJV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.8x
BYG Big Yellow Group
6.9x-4.7%UK£1.8b
SAFE Safestore Holdings
5.5x-4.0%UK£1.4b
LMP LondonMetric Property
18.2x15.6%UK£3.7b
LAND Land Securities Group
40.7x26.7%UK£4.3b
0IJV Extra Space Storage
39.3x11.1%US$33.0b

Price-To-Earnings vs Peers: 0IJV is expensive based on its Price-To-Earnings Ratio (39.3x) compared to the peer average (17.8x).

Price to Earnings Ratio vs Industry

How does 0IJV's PE Ratio compare vs other companies in the Global Specialized REITs Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
0IJV 39.3xIndustry Avg. 18.9xNo. of Companies5PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0IJV is expensive based on its Price-To-Earnings Ratio (39.3x) compared to the Global Specialized REITs industry average (19.1x).

Price to Earnings Ratio vs Fair Ratio

What is 0IJV's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0IJV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio39.3x
Fair PE Ratio19.6x

Price-To-Earnings vs Fair Ratio: 0IJV is expensive based on its Price-To-Earnings Ratio (39.3x) compared to the estimated Fair Price-To-Earnings Ratio (19.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0IJV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$148.65
US$172.61
+16.1%
6.0%US$192.00US$155.00n/a18
Dec ’25US$170.96
US$174.17
+1.9%
6.8%US$198.00US$155.00n/a18
Nov ’25US$161.91
US$175.33
+8.3%
7.1%US$202.00US$155.00n/a18
Oct ’25US$177.60
US$174.06
-2.0%
8.7%US$204.00US$141.00n/a18
Sep ’25US$175.29
US$169.24
-3.5%
7.9%US$188.00US$141.00n/a17
Aug ’25US$158.88
US$162.53
+2.3%
7.3%US$180.00US$141.00n/a17
Jul ’25US$151.93
US$157.76
+3.8%
7.4%US$180.00US$140.00n/a17
Jun ’25US$144.02
US$156.82
+8.9%
7.0%US$180.00US$140.00n/a17
May ’25US$137.24
US$155.76
+13.5%
7.5%US$180.00US$131.00n/a17
Apr ’25US$146.82
US$155.88
+6.2%
7.3%US$180.00US$131.00n/a17
Mar ’25US$141.39
US$157.59
+11.5%
7.6%US$180.00US$131.00n/a17
Feb ’25US$145.58
US$162.19
+11.4%
7.3%US$187.00US$141.00n/a16
Jan ’25US$161.16
US$155.87
-3.3%
8.8%US$172.00US$117.00US$148.5915
Dec ’24US$133.22
US$143.47
+7.7%
13.2%US$172.00US$115.00US$170.9615
Nov ’24US$103.56
US$143.47
+38.5%
15.5%US$185.00US$115.00US$161.9115
Oct ’24US$120.63
US$150.71
+24.9%
12.0%US$185.00US$115.00US$177.6014
Sep ’24US$128.47
US$157.54
+22.6%
8.7%US$185.00US$135.00US$175.2913
Aug ’24US$138.23
US$167.50
+21.2%
7.5%US$189.00US$145.00US$158.8812
Jul ’24US$147.17
US$167.69
+13.9%
8.9%US$189.00US$138.00US$151.9313
Jun ’24US$144.24
US$168.46
+16.8%
8.6%US$189.00US$138.00US$144.0213
May ’24US$150.95
US$168.50
+11.6%
8.2%US$185.00US$138.00US$137.2412
Apr ’24US$158.89
US$171.21
+7.8%
9.3%US$197.00US$138.00US$146.8214
Mar ’24US$161.75
US$168.71
+4.3%
10.5%US$210.00US$138.00US$141.3914
Feb ’24US$155.43
US$169.50
+9.0%
12.3%US$210.00US$138.00US$145.5814
Jan ’24US$147.16
US$178.21
+21.1%
15.5%US$246.00US$138.00US$161.1614

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 05:26
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Extra Space Storage Inc. is covered by 40 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Richard MilliganBaird
Brendan LynchBarclays
Keegan CarlBerenberg