Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500.
Extra Space Storage Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$172.61|
|52 Week High||US$106.14|
|52 Week Low||US$194.67|
|1 Month Change||-4.90%|
|3 Month Change||3.74%|
|1 Year Change||63.69%|
|3 Year Change||99.23%|
|5 Year Change||117.37%|
|Change since IPO||1,280.88%|
Recent News & Updates
|EXR||US REITs||US Market|
Return vs Industry: EXR exceeded the US REITs industry which returned 34.7% over the past year.
Return vs Market: EXR exceeded the US Market which returned 35.3% over the past year.
Stable Share Price: EXR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: EXR's weekly volatility (2%) has been stable over the past year.
About the Company
Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, D.C. and Puerto Rico. The Company's stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space.
Extra Space Storage Fundamentals Summary
|EXR fundamental statistics|
Is EXR overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|EXR income statement (TTM)|
|Cost of Revenue||US$361.32m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||4.59|
|Net Profit Margin||43.65%|
How did EXR perform over the long term?See historical performance and comparison
2.9%Current Dividend Yield
Is Extra Space Storage undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: EXR ($172.61) is trading above our estimate of fair value ($169.68)
Significantly Below Fair Value: EXR is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: EXR is good value based on its PE Ratio (37.6x) compared to the US REITs industry average (50.1x).
PE vs Market: EXR is poor value based on its PE Ratio (37.6x) compared to the US market (17.9x).
Price to Earnings Growth Ratio
PEG Ratio: EXR's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: EXR is overvalued based on its PB Ratio (8.1x) compared to the US REITs industry average (2x).
How is Extra Space Storage forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: EXR's earnings are forecast to decline over the next 3 years (-0.05% per year).
Earnings vs Market: EXR's earnings are forecast to decline over the next 3 years (-0.05% per year).
High Growth Earnings: EXR's earnings are forecast to decline over the next 3 years.
Revenue vs Market: EXR's revenue (4.4% per year) is forecast to grow slower than the US market (9.8% per year).
High Growth Revenue: EXR's revenue (4.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: EXR's Return on Equity is forecast to be high in 3 years time (23.3%)
How has Extra Space Storage performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: EXR has high quality earnings.
Growing Profit Margin: EXR's current net profit margins (43.7%) are higher than last year (31.9%).
Past Earnings Growth Analysis
Earnings Trend: EXR's earnings have grown by 9.7% per year over the past 5 years.
Accelerating Growth: EXR's earnings growth over the past year (48.7%) exceeds its 5-year average (9.7% per year).
Earnings vs Industry: EXR earnings growth over the past year (48.7%) exceeded the REITs industry 3.9%.
Return on Equity
High ROE: Whilst EXR's Return on Equity (20.36%) is high, this metric is skewed due to their high level of debt.
How is Extra Space Storage's financial position?
Financial Position Analysis
Short Term Liabilities: EXR's short term assets ($328.5M) exceed its short term liabilities ($212.8M).
Long Term Liabilities: EXR's short term assets ($328.5M) do not cover its long term liabilities ($5.9B).
Debt to Equity History and Analysis
Debt Level: EXR's debt to equity ratio (161.9%) is considered high.
Reducing Debt: EXR's debt to equity ratio has increased from 156.1% to 161.9% over the past 5 years.
Debt Coverage: EXR's debt is not well covered by operating cash flow (15.5%).
Interest Coverage: EXR's interest payments on its debt are well covered by EBIT (5.8x coverage).
What is Extra Space Storage current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: EXR's dividend (2.9%) is higher than the bottom 25% of dividend payers in the US market (1.33%).
High Dividend: EXR's dividend (2.9%) is low compared to the top 25% of dividend payers in the US market (3.6%).
Stability and Growth of Payments
Stable Dividend: EXR's dividends per share have been stable in the past 10 years.
Growing Dividend: EXR's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (60.5%), EXR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: EXR's dividends in 3 years are forecast to be covered by earnings (67.7% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Joe Margolis (60 yo)
Mr. Joseph Daniel Margolis, also known as Joe, J.D., serves as Independent Director of Invitation Homes Inc. since May 20, 2020. He has been the Chief Executive Officer of Extra Space Storage Inc. since Ja...
CEO Compensation Analysis
Compensation vs Market: Joe's total compensation ($USD6.78M) is below average for companies of similar size in the US market ($USD11.36M).
Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.
Experienced Management: EXR's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.
Experienced Board: EXR's board of directors are considered experienced (5.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: EXR insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.5%.
Extra Space Storage Inc.'s employee growth, exchange listings and data sources
- Name: Extra Space Storage Inc.
- Ticker: EXR
- Exchange: NYSE
- Founded: 1977
- Industry: Specialized REITs
- Sector: Real Estate
- Implied Market Cap: US$24.086b
- Market Cap: US$23.096b
- Shares outstanding: 139.54m
- Website: https://www.extraspace.com
Number of Employees
- Extra Space Storage Inc.
- 2795 East Cottonwood Parkway
- Suite 300
- Salt Lake City
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/25 22:08|
|End of Day Share Price||2021/09/24 00:00|
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.