Extra Space Storage
About: Extra Space Storage is a fully integrated real estate investment trust that owns, operates, and manages almost 4,000 self-storage properties in 42 states, with over 300 million net rentable square feet of storage space. Of these properties, approximately one half is wholly owned, while some facilities are owned through joint ventures and others are owned by third parties and managed by Extra Space Storage in exchange for a management fee.
Employees: 8,012
0
Funds holding %
of 7,390 funds
0
Analysts bullish %
of 4 analysts
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
32% more call options, than puts
Call options by funds: $22.6M | Put options by funds: $17M
31% more first-time investments, than exits
New positions opened: 98 | Existing positions closed: 75
1% more funds holding
Funds holding: 755 [Q3] → 764 (+9) [Q4]
2% more repeat investments, than reductions
Existing positions increased: 271 | Existing positions reduced: 265
0.39% more ownership
Funds ownership: 95.57% [Q3] → 95.96% (+0.39%) [Q4]
16% less capital invested
Capital invested by funds: $36.1B [Q3] → $30.4B (-$5.67B) [Q4]
45% less funds holding in top 10
Funds holding in top 10: 11 [Q3] → 6 (-5) [Q4]
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$163
12%
upside
Avg. target
$169
16%
upside
High target
$181
25%
upside
4 analyst ratings
1 positive
25%
3 neutral
75%
0 negative
0%
Barclays Brendan Lynch 43% 1-year accuracy 13 / 30 met price target | 25%upside $181 | Overweight Maintained | 12 Mar 2025 |
Scotiabank Nicholas Yulico 45% 1-year accuracy 18 / 40 met price target | 14%upside $165 | Sector Perform Maintained | 5 Mar 2025 |
RBC Capital Brad Heffern 64% 1-year accuracy 23 / 36 met price target | 12%upside $163 | Sector Perform Maintained | 27 Feb 2025 |
Wells Fargo Eric Luebchow 33% 1-year accuracy 15 / 45 met price target | 14%upside $165 | Equal-Weight Maintained | 21 Feb 2025 |
Financial journalist opinion
Based on 10 articles about EXR published over the past 30 days
Positive
Seeking Alpha
15 hours ago
State Of REITs: The 'Dark Age' Is Over
While the S&P 500 and other major benchmarks entered "correction territory" this month for the first time since 2023, U.S. REITs have meaningfully outperformed the broader equity market since mid-January. The rebound follows a truly forgettable three-year period for REITs dating back to the start of the Fed's rate hiking cycle in which REITs have accumulated 40 percentage-points of underperformance. REITs remain as unloved as ever: The number of publicly listed REITs declined for a fourth-straight year in 2024. As an asset class, REITs are the single-largest "underweight" among institutional investors.
Positive
Seeking Alpha
1 week ago
Extra Space Storage: Balancing Company Strength And Industry Weakness
Extra Space Storage is a resilient REIT in the self-storage sector, showing long-term growth despite recent industry challenges and a stagnant dividend. The self-storage industry is experiencing consolidation, driven by institutional capital and private equity funds, making it an attractive investment due to its operational efficiency and resilience. EXR has expanded rapidly, doubling its store count since 2021, and maintains a strong balance sheet with investment-grade ratings, positioning it well for future growth.
Negative
Seeking Alpha
2 weeks ago
Losers Of REIT Earnings Season
In Part 3 of our Earnings Recap, we present a sector-by-sector breakdown of the Losers of REIT Earnings Season, discussing incremental positives/negatives and noting the individual standouts. Commercial Mortgage REITs were the "biggest loser" of REIT earnings season after results showed ongoing problems in the office space and a significant deterioration in multifamily bridge loan performance. Results from Hotel REITs were also disappointing given the record-levels of travel demand, as margin pressures from higher labor costs have taken a sizable bite out of bottom-line profitability.
Neutral
PRNewsWire
2 weeks ago
Extra Space Announces Pricing of $500 Million of 5.400% Senior Notes due 2035
SALT LAKE CITY , March 10, 2025 /PRNewswire/ -- Extra Space Storage Inc. ("Extra Space") (NYSE: EXR), a leading owner and operator of self-storage facilities in the United States and a member of the S&P 500, today announced that its operating partnership, Extra Space Storage LP (the "operating partnership"), has priced a public offering of $500 million aggregate principal amount of 5.400% senior notes due 2035 (the "Notes"). The Notes were priced at 99.830% of the principal amount and will mature on June 15, 2035.
Positive
Zacks Investment Research
3 weeks ago
Extra Space Storage's Store Count Surpasses 4,000 Nationwide
EXR surpasses 4,000 stores, solidifying its dominance in self-storage with strategic growth and major acquisitions.
Neutral
PRNewsWire
3 weeks ago
Extra Space Storage Celebrates 4,000 Stores Milestone
SALT LAKE CITY , March 5, 2025 /PRNewswire/ -- Extra Space Storage, Inc., (NYSE:EXR) the largest operator of self storage properties in the U.S., announced a significant milestone for the company as they celebrate reaching over 4,000 stores nationwide. Extra Space has more than doubled its store count since 2021.
Neutral
Seeking Alpha
4 weeks ago
Extra Space Storage Inc. (EXR) Q4 2024 Earnings Call Transcript
Extra Space Storage Inc. (NYSE:EXR ) Q4 2024 Earnings Conference Call February 26, 2025 1:00 PM ET Company Participants Jared Conley - Vice President, Investor Relations Joe Margolis - Chief Executive Officer Scott Stubbs - Chief Financial Officer Conference Call Participants Ki Bin Kim - Truist Jeff Spector - BofA Michael Goldsmith - UBS Brendan Lynch - Barclays Ronald Kamdem - Morgan Stanley Todd Thomas - KeyBanc Capital Markets Juan Sanabria - BMO Capital Markets Eric Wolfe - Citi Keegan Carl - Wolfe Research Nick Yulico - Scotiabank Michael Mueller - JPMorgan Salil Mehta - Green Street Jeremy Kuhl - Goldman Sachs Omotayo Okusanya - Deutsche Bank Jon Petersen - Jefferies Operator Good afternoon, ladies and gentlemen, and welcome to the Extra Space Storage Inc. Q4 and 2024 Earnings Conference Call. [Operator Instructions] This call is being recorded on Wednesday, February 26, 2025.
Positive
Zacks Investment Research
4 weeks ago
Extra Space Storage Q4 FFO Beats Estimates, Occupancy Grows Y/Y
EXR's Q4 results reflect higher revenues year over year, aided by growth in occupancy, though lower same-store NOI marred the performance to an extent.
Neutral
The Motley Fool
4 weeks ago
Extra Space Storage Reports Mixed Q4
Self-storage specialist Extra Space Storage (EXR -2.81%) reported mixed fourth-quarter 2024 earnings on Tuesday, Feb. 25. Funds from Operations (FFO) per share of $1.96, eclipsing the expected $1.08, while core FFO registered a slight year-over-year growth to $2.03 per share.
Neutral
Zacks Investment Research
1 month ago
Compared to Estimates, Extra Space Storage (EXR) Q4 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for Extra Space Storage (EXR) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
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