Extra Space Storage
NYSE: EXR
Stock price
133.12 USD
(-22.18%) 5 years
Financial Performance
5Y price score: (28)
The price score is a basic measure of the stock's performance against the S&P 500 Index over a five-year period.
A score of 100 indicates that the stock did as well as the S&P 500 Index.
A score below 100 means the stock underperformed the index, while a score above 100 means it outperformed the S&P 500.
10Y return: 138%
%
ㅤ
By default your notes are visible only to you.
125.7
52-week range
158.8
Your model inputs
Your fair value & Margin of safety
To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.
Forecast:
Valuation
Free Cash Flow Yield
6.1 %
Dividend Yield TTM
4.9 %
Market cap $
$ 28,124
Price / Earnings TTM
29.8
Price / Book TTM
2.1
PEG TTM
2.1
Earnings growth and return
LTM
5YR
10YR
Total return (price & dividends)
(2) %
(4.7) %
138 %
Free cash flow per share growth
(2.1) %
46.4 %
204.4 %
Earnings per share growth
5.9 %
23.7 %
194.2 %
Founded: 1,977
Employees: 8,012
Business Summary:
Q&A
Contribute
By providing well-researched and detailed answer you increase your chance of becoming Top Contributor. TopFunds is free for all top contributors. Learn more
Latest Earnings Call Takeaways
2026 Q2 (Jul 29, 2026)
1) Strong Financial Performance
- Core FFO per share reached $2.15, a 4.9% YoY growth.
- Same-store revenue grew by 2.4%, exceeding internal projections and accelerating from Q1.
- Same-store NOI increased by 3.5% YoY, with expenses declining modestly.
- Occupancy ended at 94.2%, reflecting effective balance between rate and occupancy management.
2) Strategic Growth Initiatives
- Closed 18 stores for $91 million, primarily off-market transactions, maintaining disciplined underwriting standards.
- Originated $141 million in new bridge loans, with $1.5 billion in outstanding balances, enhancing revenue through interest income and management fees.
- Added 67 stores to third-party management, bringing total managed portfolio to 1,964 stores.
3) Market Dynamics and Customer Demand
- Customer demand remains steady, with no significant pickup in the housing market; however, the company captures a disproportionate share of the market due to strong digital marketing and pricing strategies.
- New supply is gradually moderating, contributing to improved performance across various markets, particularly in the Midwest and Sun Belt regions.
4) Guidance and Outlook
- Raised full-year 2026 core FFO guidance to $8.25-$8.40 per share.
- Increased same-store revenue growth guidance by 100 basis points to 1%-2% and same-store NOI guidance by 200 basis points to 0.5%-2.5%.
- Acknowledged potential macroeconomic headwinds affecting consumer confidence, but noted that July performance remained strong and consistent with June.
5) Regulatory and Operational Considerations
- Settled a lawsuit with New York City for $1.7 million, removing uncertainty and allowing focus on operations.
- New licensing requirements for self-storage operators in New York City are expected to level the playing field, with compliance plans in place.
- The transcript lacks detailed insights into specific market cap rates and IRR expectations for acquisitions, which would provide a clearer picture of external growth strategies.
Bottom line: Extra Space Storage demonstrated solid financial performance in Q2 2026, with strong FFO growth and strategic acquisitions, while navigating a steady demand environment and potential macroeconomic headwinds. The raised guidance reflects confidence in continued operational excellence and market positioning, making it a favorable outlook for shareholders.
Annual Reports, Presentations And IR Contacts
Go to the websiteExtra Space Storage — Financial Overview, Stock Price, Market Cap
Extra Space Storage is a company. Founded in 1977. As of October 9, 2026, the company's market capitalization is $28124203561 with a current stock price of $133.12.