EXR Stock - Extra Space Storage Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $3.34B | $2.62B | $1.97B | $1.61B | $1.38B |
| Gross Profit | $2.55B | $2.02B | $1.54B | $1.23B | $1.02B |
| Gross Margin | 76.3% | 77.3% | 78.5% | 76.4% | 74.0% |
| Operating Income | $1.32B | $1.17B | $1.05B | $975.95M | $666.14M |
| Net Income | $854.68M | $803.20M | $860.69M | $827.65M | $481.78M |
| Net Margin | 25.6% | 30.7% | 43.8% | 51.4% | 34.9% |
| EPS | $4.03 | $4.74 | $6.41 | $6.20 | $3.71 |
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. 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. The Company is the second largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the United States.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| August 26th 2025 | Wells Fargo | Upgrade | Overweight | $160 |
| August 21st 2025 | Goldman | Downgrade | Neutral | $146 |
| June 24th 2025 | BNP Paribas Exane | Initiation | Neutral | $156 |
| April 9th 2025 | Scotiabank | Upgrade | Sector Outperform | $149 |
| January 10th 2025 | Scotiabank | Upgrade | Sector Perform | $167 |
| October 21st 2024 | Wells Fargo | Downgrade | Equal Weight | $175 |
| September 18th 2024 | Jefferies | Upgrade | Buy | $204← $162 |
| September 10th 2024 | RBC Capital Mkts | Initiation | Sector Perform | $180 |
| August 5th 2024 | BofA Securities | Downgrade | Underperform | $155← $172 |
| March 28th 2024 | Raymond James | Downgrade | Outperform | $160 |
| March 27th 2024 | Barclays | Initiation | Overweight | $157 |
| February 13th 2024 | Scotiabank | Initiation | Sector Underperform | $131 |
| January 30th 2024 | Deutsche Bank | Initiation | Hold | $141 |
| December 21st 2023 | Morgan Stanley | Upgrade | Equal Weight | $150← $115 |
| December 12th 2023 | Wells Fargo | Upgrade | Overweight | $155← $120 |
Earnings History & Surprises
EXREPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 27, 2026 | — | — | — | — |
Q1 2026 | Feb 24, 2026 | $2.04 | — | — | — |
Q4 2025 | Oct 29, 2025 | $2.06 | $2.08 | +1.0% | ✓ BEAT |
Q3 2025 | Jul 30, 2025 | $2.06 | $2.05 | -0.5% | ✗ MISS |
Q2 2025 | Apr 29, 2025 | $1.96 | $2.00 | +2.0% | ✓ BEAT |
Q1 2025 | Feb 25, 2025 | $1.10 | $2.03 | +84.5% | ✓ BEAT |
Q4 2024 | Oct 29, 2024 | $2.03 | $2.07 | +2.0% | ✓ BEAT |
Q3 2024 | Jul 30, 2024 | $2.00 | $2.06 | +3.0% | ✓ BEAT |
Q2 2024 | Apr 30, 2024 | $1.95 | $1.96 | +0.5% | ✓ BEAT |
Q1 2024 | Feb 27, 2024 | $2.03 | $2.02 | -0.5% | ✗ MISS |
Q4 2023 | Nov 7, 2023 | $2.03 | $2.02 | -0.5% | ✗ MISS |
Q3 2023 | Aug 3, 2023 | $1.51 | $1.50 | -0.7% | ✗ MISS |
Q2 2023 | May 2, 2023 | $1.41 | $1.46 | +3.5% | ✓ BEAT |
Q1 2023 | Feb 22, 2023 | $1.46 | $1.52 | +4.1% | ✓ BEAT |
Q4 2022 | Nov 1, 2022 | $1.59 | $1.65 | +3.8% | ✓ BEAT |
Q3 2022 | Aug 2, 2022 | $1.47 | $1.64 | +11.6% | ✓ BEAT |
Q2 2022 | May 3, 2022 | $1.35 | $1.51 | +11.9% | ✓ BEAT |
Q1 2022 | Feb 23, 2022 | $1.40 | $2.00 | +42.9% | ✓ BEAT |
Q4 2021 | Oct 27, 2021 | $1.22 | $1.40 | +14.8% | ✓ BEAT |
Q3 2021 | Jul 27, 2021 | $1.08 | $1.25 | +15.7% | ✓ BEAT |
Latest News
Truist Securities Maintains Hold on Extra Space Storage, Lowers Price Target to $142
📉 NegativeMizuho Maintains Outperform on Extra Space Storage, Lowers Price Target to $137
➖ NeutralRBC Capital Maintains Sector Perform on Extra Space Storage, Lowers Price Target to $146
➖ NeutralEvercore ISI Group Maintains In-Line on Extra Space Storage, Lowers Price Target to $147
➖ NeutralExtra Space Storage Narrows FY2025 FFO Guidance from $8.05-$8.25 to $8.12-$8.20 vs $8.18 Est
➖ NeutralExtra Space Storage Q3 FFO $2.08, Inline, Sales $735.581M Miss $778.898M Estimate
📉 NegativeEvercore ISI Group Maintains In-Line on Extra Space Storage, Raises Price Target to $149
📈 PositiveUBS Maintains Buy on Extra Space Storage, Lowers Price Target to $160
➖ NeutralEvercore ISI Group Maintains In-Line on Extra Space Storage, Raises Price Target to $147
📈 PositiveScotiabank Maintains Sector Outperform on Extra Space Storage, Lowers Price Target to $162
➖ NeutralWells Fargo Upgrades Extra Space Storage to Overweight, Maintains Price Target to $160
📈 PositiveGoldman Sachs Downgrades Extra Space Storage to Neutral, Lowers Price Target to $146
➖ NeutralTruist Securities Maintains Hold on Extra Space Storage, Lowers Price Target to $150
📉 NegativeExtra Space Storage CFO to retire
➖ NeutralPublic Storage, Extra Space Storage upgraded on positive self-storage REITs sector view
📈 PositiveFrequently Asked Questions about EXR
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