Extra Space Storage (EXR)
Real Estate · Self-storage REITs
A fully integrated self-storage REIT operating and managing over 4,200 properties across 43 states with ancillary tenant reinsurance and bridge lending operations.
What Extra Space Storage does
Extra Space Storage is a self-administered, self-managed REIT that owns, operates, manages, and develops self-storage properties across 43 states and Washington, D.C. As of December 31, 2025, the company owned and/or operated 4,281 stores comprising approximately 330.4 million square feet of net rentable space. Beyond core self-storage rental operations, the company generates revenue through tenant reinsurance (reinsuring risks on goods stored by tenants), management fees for third-party managed stores (1,856 stores as of year-end 2025), and a bridge lending program providing financing to third-party self-storage owners.
Themes: ["Real estate investment trusts (REITs)","Self-storage operations","Third-party property management","REIT financing and capital allocation","Tenant insurance products"]
Fundamentals
- Price$142.68 as of 2026-07-09 close
- Market cap$30.5B as of 2026-07-10
- 1-year return-3.9% as of 2026-07-09 close
- P/E32.31 as of 2026-07-10
- Net margin+27.7% as of 2026-07-10
- Gross margin+70.6% as of 2026-07-10
- ROE+7.0% as of 2026-07-10
- Debt / equity0.99 as of 2026-07-10
- Revenue growth (YoY)+4.2% as of 2026-07-10
- Revenue CAGR (3y)+20.6% SEC XBRL
- Beta1.19 as of 2026-07-10
Dividend: yield +4.5%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Competition from new and existing self-storage facilities and alternative storage solutions could cause rental rates and occupancy rates to decline","Adverse economic conditions, including reduced demand for self-storage space, and impacts from disease outbreaks, natural disasters, war, or terrorism could materially affect business results and cash flow","Disruptions in credit markets, rising interest rates, and the company's substantial debt levels ($13.2 billion in liabilities) could impede growth, refinancing, and capital raising ability"]
Competitors & peers
- CubeSmart (CUBE)
- Life Storage (LSI)
- Public Storage (PSA)
- Sovran Self Storage (SASR)
- Advantage Storage
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.