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EXR 
Extra Space Storage Inc (EXR)
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Upturn Advisory Summary
02/20/2026: EXR (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
20 Analysts rated it
Well-followed company, solid analyst reports, reliable data for confident investing.
1 Year Target Price $149.85
1 Year Target Price $149.85
| 4 | Strong Buy |
| 5 | Buy |
| 11 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 33.85B USD | Price to earnings Ratio 34.1 | 1Y Target Price 149.85 |
Price to earnings Ratio 34.1 | 1Y Target Price 149.85 | ||
Volume (30-day avg) 20 | Beta 1.26 | 52 Weeks Range 116.98 - 155.55 | Updated Date 02/20/2026 |
52 Weeks Range 116.98 - 155.55 | Updated Date 02/20/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) 4.48 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date 2026-02-19 | When - | Estimate 1.16 | Actual 1.36 |
Profitability
Profit Margin 27.74% | Operating Margin (TTM) 46.33% |
Management Effectiveness
Return on Assets (TTM) 3.35% | Return on Equity (TTM) 6.79% |
Valuation
Trailing PE 34.1 | Forward PE 30.12 | Enterprise Value 44613136808 | Price to Sales(TTM) 9.89 |
Enterprise Value 44613136808 | Price to Sales(TTM) 9.89 | ||
Enterprise Value to Revenue 13.35 | Enterprise Value to EBITDA 18.65 | Shares Outstanding 212247580 | Shares Floating 209963796 |
Shares Outstanding 212247580 | Shares Floating 209963796 | ||
Percent Insiders 0.98 | Percent Institutions 102.7 |
Upturn AI SWOT
Extra Space Storage Inc
Company Overview
History and Background
Extra Space Storage Inc. (NYSE: EXR) was founded in 1977 and has since grown into the second-largest owner and operator of self-storage stores in the United States. The company went public in 2004. Its growth has been driven by both organic expansion and strategic acquisitions, establishing a significant presence across the nation.
Core Business Areas
- Self-Storage Operations: The primary business involves owning and operating a national network of self-storage facilities, offering a variety of unit sizes and amenities to individual and commercial customers. This includes climate-controlled units, drive-up units, and various security features.
- Acquisitions and Development: Extra Space Storage actively pursues acquisitions of existing self-storage properties and develops new facilities to expand its portfolio and market reach.
- Tenant Insurance Programs: The company offers tenant insurance programs as an ancillary revenue stream, providing protection for customers' stored belongings.
Leadership and Structure
Extra Space Storage Inc. is a publicly traded real estate investment trust (REIT). Its leadership team is comprised of experienced executives in real estate, finance, and operations. The company operates through a decentralized management structure, with regional managers overseeing individual properties and market areas.
Top Products and Market Share
Key Offerings
- Self-Storage Units: Offers a wide range of storage unit sizes, from small lockers to large garage-sized units, catering to diverse customer needs. Competitors include Public Storage (PSA), CubeSmart (CUBE), U-Haul (AMERCO), and numerous smaller independent operators. Market share data for individual product types is not publicly disclosed at this granular level, but EXR is a significant player in the overall self-storage market.
- Climate-Controlled Storage: Provides temperature and humidity-controlled units, ideal for storing sensitive items like electronics, artwork, and furniture. Competitors offer similar services.
- Business Storage Solutions: Offers dedicated storage solutions for businesses, including inventory storage, document archiving, and equipment storage. Competitors include other major self-storage operators and specialized business storage providers.
- Tenant Protection Plan: An insurance product offered to customers to cover their stored goods against damage or loss. This is a supplementary service, and its market share is not separately tracked.
Market Dynamics
Industry Overview
The self-storage industry is characterized by steady demand driven by life events such as moving, downsizing, and business growth. It is a fragmented market with a mix of large REITs and smaller independent operators. The industry benefits from relatively low operating costs and high occupancy rates.
Positioning
Extra Space Storage is a leading player in the US self-storage market, known for its strong brand recognition, extensive geographic footprint, and efficient operations. Its strategic focus on acquisitions and redevelopment, coupled with a robust technology platform for customer service and operations, provides a competitive advantage. The company's scale allows for economies of scale in marketing, purchasing, and management.
Total Addressable Market (TAM)
The total addressable market for self-storage in the US is estimated to be in the tens of billions of dollars annually. Extra Space Storage, as one of the largest operators, holds a significant portion of this market and is well-positioned to capture further growth through expansion and market consolidation.
Upturn SWOT Analysis
Strengths
- Extensive national portfolio of well-located properties
- Strong brand recognition and customer loyalty
- Diversified revenue streams (rent, insurance, etc.)
- Experienced management team with a proven track record
- Efficient operational platform and technology adoption
Weaknesses
- Reliance on acquisitions for significant growth
- Sensitivity to economic downturns affecting consumer spending
- High capital expenditure requirements for new developments and acquisitions
Opportunities
- Continued market consolidation through strategic acquisitions
- Expansion into underserved geographic areas
- Development of new product offerings and technology-driven services
- Increasing demand for business storage solutions
- Leveraging data analytics for operational efficiency and customer insights
Threats
- Increased competition from new entrants and existing players
- Rising operating costs (labor, utilities, property taxes)
- Potential for oversupply in certain markets
- Changes in consumer preferences and economic conditions
- Interest rate hikes impacting borrowing costs and property valuations
Competitors and Market Share
Key Competitors
- Public Storage (PSA)
- CubeSmart (CUBE)
- Life Storage (LSI) - Note: LSI was acquired by Extra Space Storage in 2023, so it should not be listed as a direct competitor for future market share.
- National Storage Affiliates Trust (NSA)
- U-Haul (AMERCO) - Primarily focused on moving and storage, but a significant player.
Competitive Landscape
Extra Space Storage's advantages lie in its scale, brand recognition, and operational efficiency. Its disadvantages compared to some competitors might include a higher reliance on external capital for acquisitions and potentially less flexibility in certain niche markets. The acquisition of Life Storage significantly bolsters its market position.
Major Acquisitions
Life Storage, Inc.
- Year: 2023
- Acquisition Price (USD millions): 12500
- Strategic Rationale: To significantly expand its geographic footprint, enhance its portfolio density, and achieve greater operational efficiencies through scale. This acquisition solidified Extra Space Storage's position as the largest self-storage operator in the US.
Storage Asset Management (SAM)
- Year: 2021
- Acquisition Price (USD millions): 1300
- Strategic Rationale: To increase its presence in key growth markets and acquire a significant third-party management platform, expanding its managed portfolio.
Growth Trajectory and Initiatives
Historical Growth: Extra Space Storage has experienced significant historical growth, fueled by a strategic approach to acquiring and developing self-storage properties across the United States. Its expansion has been both organic and through targeted acquisitions.
Future Projections: Analyst projections generally indicate continued growth for Extra Space Storage, driven by industry trends, ongoing acquisitions, and potential for rental rate increases. The company is expected to benefit from the increasing demand for storage solutions.
Recent Initiatives: Recent initiatives may include the acquisition of new portfolios, redevelopment of existing properties to enhance amenities, and investment in technology to improve customer experience and operational efficiency. Specific initiatives are often announced through investor relations.
Summary
Extra Space Storage Inc. is a dominant player in the US self-storage market, demonstrating strong revenue growth and profitability through strategic acquisitions and efficient operations. Its vast national footprint and diversified offerings position it well for continued success. However, the company must remain vigilant against increasing competition and potential economic headwinds that could impact consumer spending.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company Investor Relations Filings (SEC EDGAR)
- Financial News Outlets (e.g., Bloomberg, Reuters, Wall Street Journal)
- Industry Analysis Reports
- Market Data Providers (e.g., FactSet, Refinitiv)
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Stock market data, financial metrics, and market share figures are subject to change and may be estimates. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. The provided market share data is illustrative and based on general industry knowledge; precise, up-to-the-minute market share figures for specific segments are often proprietary or not publicly disclosed.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Extra Space Storage Inc
Exchange NYSE | Headquaters Salt Lake City, UT, United States | ||
IPO Launch date 2004-08-12 | CEO & Director Mr. Joseph Daniel Margolis J.D. | ||
Sector Real Estate | Industry REIT - Industrial | Full time employees 8012 | Website https://www.extraspace.com |
Full time employees 8012 | Website https://www.extraspace.com | ||
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, 2025, the Company owned and/or operated 4,238 self-storage stores in 43 states and Washington, D.C.The Company's stores comprise approximately 2.9 million units and approximately 326.9 million square feet of rentable space operating under the Extra Space brand. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States.
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