Financial Performance
5Y price score: (27)
The price score is a basic measure of the stock's performance against the S&P 500 Index over a five-year period.
A score of 100 indicates that the stock did as well as the S&P 500 Index.
A score below 100 means the stock underperformed the index, while a score above 100 means it outperformed the S&P 500.
10Y return: 136.3%
US$ Per
Share
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125.7
52-week range
158.8
Your model inputs
Your fair value & Margin of safety
To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.
Forecast:
Valuation
Free Cash Flow Yield
5.6 %
Dividend Yield TTM
4.5 %
Market cap $
$ 30,607
Price / Earnings TTM
32.4
Price / Book TTM
2.3
PEG TTM
5.5
Earnings growth and return
LTM
5YR
10YR
Total return (price & dividends)
8 %
(3) %
136.3 %
Free cash flow per share growth
(2.1) %
46.4 %
204.4 %
Earnings per share growth
5.9 %
23.7 %
194.2 %
Founded: 1,977
Employees: 8,012
Business Summary:
Latest Earnings Call Takeaways
2026 Q2 (Jul 29, 2026)
1) Strong Financial Performance
- Core FFO per share reached $2.15, a 4.9% YoY growth.
- Same-store revenue grew by 2.4%, exceeding internal projections and accelerating from Q1.
- Same-store NOI increased by 3.5% YoY, with expenses declining modestly.
- Occupancy ended at 94.2%, reflecting effective balance between rate and occupancy management.
2) Strategic Growth Initiatives
- Closed 18 stores for $91 million, primarily off-market transactions, maintaining disciplined underwriting standards.
- Originated $141 million in new bridge loans, with $1.5 billion in outstanding balances, enhancing revenue through interest income and management fees.
- Added 67 stores to third-party management, bringing total managed portfolio to 1,964 stores.
3) Market Dynamics and Customer Demand
- Customer demand remains steady, with no significant pickup in the housing market; however, the company captures a disproportionate share of the market due to strong digital marketing and pricing strategies.
- New supply is gradually moderating, contributing to improved performance across various markets, particularly in the Midwest and Sun Belt regions.
4) Guidance and Outlook
- Raised full-year 2026 core FFO guidance to $8.25-$8.40 per share.
- Increased same-store revenue growth guidance by 100 basis points to 1%-2% and same-store NOI guidance by 200 basis points to 0.5%-2.5%.
- Acknowledged potential macroeconomic headwinds affecting consumer confidence, but noted that July performance remained strong and consistent with June.
5) Regulatory and Operational Considerations
- Settled a lawsuit with New York City for $1.7 million, removing uncertainty and allowing focus on operations.
- New licensing requirements for self-storage operators in New York City are expected to level the playing field, with compliance plans in place.
- The transcript lacks detailed insights into specific market cap rates and IRR expectations for acquisitions, which would provide a clearer picture of external growth strategies.
Bottom line: Extra Space Storage demonstrated solid financial performance in Q2 2026, with strong FFO growth and strategic acquisitions, while navigating a steady demand environment and potential macroeconomic headwinds. The raised guidance reflects confidence in continued operational excellence and market positioning, making it a favorable outlook for shareholders.
Annual Reports, Presentations And IR Contacts
Go to the websiteExtra Space Storage — Financial Overview, Stock Price, Market Cap
Extra Space Storage is a company. Founded in 1977. As of August 26, 2026, the company's market capitalization is $30606620867 with a current stock price of $144.87.