EXR Stock Analysis — Extra Space Storage
Sector: REIT
AI Verdict
EXR trades at 31.2x next year's earnings for just 3.7% growth, so you're paying a premium the numbers don't yet support unless their scale moat delivers a step-change in profitability.
Competitive Moat
Extra Space Storage operates a vast network of self-storage facilities, benefiting from high switching costs and local scale advantages that make it hard for new entrants to compete on price or convenience. Their technology-driven pricing and occupancy management systems further entrench their position in established markets.
Summary
EXR stands out for its national scale in self-storage and data-driven pricing, but faces a valuation disconnect with muted earnings growth.
Where It Stands
EXR is down -4.18% over the past year, trades at 31.2x forward earnings versus a typical REIT median in the high teens, and its RSI of 45.9 signals a cooling, not oversold, setup.
Key Metrics
- RSI: 45.9 — Neutral
- Trailing P/E: 32.3x
- Forward P/E: 31.2x
- PEG Ratio: 8.68
- Earnings Growth: +0.0%
- Revenue Growth: +0.0%
- Market Cap: $30.4B
- Dividend Yield: 0.05%
- 1-Year Return: -4.18%
- 52-Week High: $155.19
- 52-Week Low: $125.71
Analyst Consensus
10 Buy · 13 Hold · 1 Sell (24 analysts)
Bull Case
Bulls point to the 3.7% forward EPS growth and $30.4B market cap as evidence of stability and scale in a fragmented industry.
Bear Case
With a forward P/E of 31.2x and EPS growth of just 3.7%, any P/E compression toward a sector median in the high teens would mean a 40%+ downside risk.
Catalyst to Watch
Watch for quarterly occupancy and rate updates—if pricing power or utilization slips, the premium multiple will be hard to justify.