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EXR

Extra Space Storage Inc.

Real Estate · $28.1B market cap

Verdict

Share price

$133.25

close of Oct 3, 2026

Fair value

$94.03

Sticker Price

Payback Price

$37.61

buy price

Overpriced

EXR is Overpriced: at $133.25 it trades 42% above its fair value of $94.03. Its buy price (Payback Price) is $37.61, 72% below today's price. Business quality is solid: 3 of 5 key numbers clear the 10% bar.

How we valued it

FFO-Based (REIT). A real estate trust. Depreciation makes a property owner's profit look smaller than the cash it brings in, so we value it on funds from operations (FFO).

Business quality

3 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth17.0% a year✓
Equity per share growth6.9% a year✗
Sales growth17.2% a year✓
Free cash flow growth17.8% a year✓
Return on invested capital4.5%✗

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Superinvestors

1 of the investors we track holds EXR. In Q1 2026, 1 added. Who we track

First Eagle Investment Management

First Eagle Investment Management · as of Q2 2026

$563.3M

3,876,997 shares

Moves in Q1 2026

Added: First Eagle Investment Management

Insider activity

Since Jul 1, 2026: no open-market purchases and 4 other filings (stock awards, tax withholding and similar). Why purchases matter

Other filings

Margolis Joseph D

Chief Executive Officer · 2026-08-04

G-Gift

13,503 shares

Norman Jeffrey Jay

Executive VP and CFO · 2026-07-01

Tax withholding

$108K

Springer William N

President · 2026-07-01

Tax withholding

$20K

Dickens Zachary T

EVP, Chief Investment Officer · 2026-07-01

Tax withholding

$24K

About Extra Space Storage Inc.

Extra Space Storage Inc., a prominent, self-administered and self-managed real estate investment trust (REIT), is headquartered in Salt Lake City, Utah, and holds a distinguished place as a member of the S&P 500 index. As of September 30, 2020, its expansive portfolio encompassed 1,906 self-storage facilities, with operations spanning 40 U.S. states, Washington, D.C., and Puerto Rico. Collectively, these facilities…

REIT - Industrial

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works