Extra Space Storage Inc. (EXR) Stock

Extra Space Storage Inc. (EXR) is a Real Estate stock trading at $146.78 (as of 2026-08-21), with a market capitalization of $31.01B and a trailing P/E of 32.4. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust that owns and operates self-storage facilities across the U.S. (and Washington, D.C. and Puerto Rico). As of September 30, 2020, it managed 1,906 stores with about 1.4 million units and 147.5 million square feet of rentable space, offering unit options including boat, RV, and business storage.

Understand Extra Space Storage Inc.: how it makes money

Extra Space Storage owns and operates self-storage properties, renting storage units (including specialized options like boat, RV, and business storage) to customers, and it is a self-administered and self-managed REIT.

Because Extra Space Storage is a self-administered, self-managed REIT that owns and operates thousands of rentable storage units, its profit engine is primarily driven by monetizing that operated property portfolio, reflected in its Revenue Under Management operating metric.

Business quality (Solid): Limited segment detail was provided, so there is no clean official segment breakdown here; the only operating metric available in the input is Revenue Under Management.

Valuation: At 34× earnings, EXR trades in line with the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Large operated storage footprint: As of September 30, 2020, the company owned and/or operated 1,906 self-storage stores across 40 states, plus Washington, D.C. and Puerto Rico, totaling about 1.4 million units and about 147.5 million square feet of rentable space.
  • REIT operator model: The company is self-administered and self-managed, meaning it operates its business directly rather than outsourcing core management.

Bear case

  • Demand and property performance sensitivity: Performance depends on the ability to monetize operated storage assets over time, which can be pressured if storage demand weakens or if customers do not lease space at profitable levels.
  • Portfolio and market concentration risk: Because the company’s results are tied to its owned and operated property portfolio, adverse conditions in where it operates (for example, specific regions or property-level factors) can impact outcomes.
Valuation — source: SEC EDGAR (first-party)
Price$146.78
Market Cap$31.01B
P/E Ratio32.4
EV / EBITDA14.1
Price / Book2.19
Price / Sales9.00
FCF Yield11.0%
DCF Value (model)$304.35
DCF Upside vs Price107.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$3.38B
Net Margin28.8%
Revenue Growth (YoY)3.9%
EPS Growth (YoY)5.9%
Valuation vs Sector & Industry
Stock P/E32.4
Sector P/E (Real Estate)27.2
Industry P/E (Trading)35.3
vs Sector19.1%
vs Industry-8.3%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($4.49B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorReal Estate
IndustryTrading
CEOJoseph Daniel Margolis
Employees8,012
CountryUS
IPO Date2004-08-16

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EXR earnings history · EXR institutional & insider holders · EXR KPIs & operating metrics · EXR financials · EXR investor presentations & press releases · EXR SEC filings · EXR peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.