Extra Space Storage Inc. · REIT (real estate trust)

EXR

Low riskNext report: Around Feb 18, 2027 (est.)

View price ↗

The short version

A profitable company with steady sales. Institutions are adding.

Going well

Pays a 4.5% dividend yield
Profitable every year for 10 years
Brings in more cash than it spends

Watch out for

Share count growing 14.3% a year (dilution)

Money moves

No insider buying or selling in the last 30 days
Institutions added 4.1% to their holdings in the quarter ending June 2026 (382 bought, 329 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$143.38-0.0% that day

Company value: $30.3B; Share price times all shares
Price vs profit (P/E): 31.7x; You pay about $32 for each $1 of yearly profit
Price vs sales: 8.8x; Company value is 8.8 times a year of sales
Dividend yield: 4.5%; Yearly dividend as a share of today's price
Cash vs value: 2%; Cash as a share of company value
Debt vs value: 31%; Debt as a share of company value

From EXR's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$874.2M+3.9% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $3.4B, up 4.2% from the 12 months before. Over 5 years, sales grew about 20% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of EXR. Starting points are the company's recent numbers.

Sales growth+4% a yearRecently: +4.2% a yearProfit margin28%Last 12 months: 27.8%P/E at the end32xToday: 31.7x. Many steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$4.2B

Profit in 5 years$1.2B

Price these guesses point to$110.41-23% vs $143.38 todayAbout -5.1% a year, before dividends

What today's price needs: with a 28% margin and a 32x P/E, sales would have to grow about 9.6% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/6Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.7.1%
MissDebt under half of equityNot relying on borrowed money.0.70x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.28.8%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$1.9B
MissShare count not growingNot diluting owners. Falling means buybacks.+49.5% in 3 years

Revenue: $3.4B; +3.7% vs prior year
5-year growth: +20.0%/yr; revenue, per year
Total debt: $9.4B; 0.70x equity
Free cash flow: $1.9B; 54.8% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Sep 30, 2026

Reported Oct 27After close4:17 pm ET

Revenue: $889.8M; +3.6% YoY
EPS: $1.17; vs $0.78
Op. margin: 44.0%; +11.5 pts

From the press release, checked against last year's SEC filing. Cash flow and share count update with the 10-Q.

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 1
Normal week: 0.4
vs normal: 2.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+4.1%

Institutions added 4.1% to their holdings. 382 bought, 329 sold.

Shares held by institutions210.1M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

0.0%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

0.7x · $9.5B debt

Shares outstandingLatest reported

211M

Earnings reports

Last 12

Next reportAround Feb 18, 2027 (est.)Estimated from the same quarter last year

Results filedOct 27
Results filedJul 28
Results filedApr 28
Results filedFeb 19
Results filedOct 29, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (passive)Aug 14 · View filing ↗Big holder Offering prospectusJun 25 · View filing ↗Offering Offering prospectusJun 24 · View filing ↗Offering

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Earnings resultsOct 27 · Form 8-K ↗Leadership changeAug 24 · Form 8-K ↗5%+ holder update (passive)Aug 14 · Form SCHEDULE 13G/A ↗

GiftJoseph D MargolisChief Executive Officer, Director

27,006 shares

+51% of holdings
Now owns 79,998 shares
Held Cove Hollow Lane I, LLC
2 transactions
Filed 1 day after trade

Aug 4Form 4 ↗

Quarterly reportJul 31 · Form 10-Q ↗Earnings resultsJul 28 · Form 8-K ↗Major agreementJul 6 · Form 8-K ↗

Shares withheld for taxesJeffrey Jay NormanExecutive VP and CFO

735 shares at $147.29 · $108K

-4% of holdings
Now owns 15,818 shares
Filed 1 day after trade

Jul 1Form 4 ↗

Shares withheld for taxesWilliam N SpringerPresident

138 shares at $147.29 · $20K

-0% of holdings
Now owns 27,794 shares
Filed 1 day after trade

Jul 1Form 4 ↗

Shares withheld for taxesZachary T DickensEVP, Chief Investment Officer

164 shares at $147.29 · $24K

-0% of holdings
Now owns 33,712 shares
Filed 1 day after trade

Jul 1Form 4 ↗

Offering prospectusJun 25 · Form 424B5 ↗Other company newsJun 25 · Form 8-K ↗Offering prospectusJun 24 · Form 424B5 ↗FWPJun 24 · Form FWP ↗11-KJun 18 · Form 11-K ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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