
EXR Stock Forecast & Price Target
EXR Analyst Ratings
Bulls say
Extra Space Storage, a fully integrated real estate investment trust, manages nearly 4,000 self-storage facilities across 42 states, presenting a substantial portfolio of over 300 million net rentable square feet. The company is experiencing improved rental dynamics, particularly in the Los Angeles area, and anticipates potential near-term growth trends exceeding expectations due to increased occupancy rates, strong rent growth, and customer rate increases. Additionally, the strategic layering of fixed-rate debt and a dynamic focus on customer lifetime value are predicted to enhance the sustainability of management's net operating income (NOI) more than previously anticipated.
Bears say
The financial outlook for Extra Space Storage reflects a decline, as the company's normalized funds from operations (NFFO) estimates for 2025 and 2026 have been reduced by 0.1% and 1.2%, respectively, with a new 2026 estimate of $8.32 per share that falls below consensus expectations. Additionally, the reduction in the 12-month price target to $142 from $150 suggests anticipated limited earnings multiple expansion and highlights growing concerns about the self-storage fundamentals, as indicated by recent pricing surveys. The organization also faces specific risks, including potential impacts from rent moratoriums, which could further hinder financial performance by creating an effective drag on revenue.
This aggregate rating is based on analysts' research of Extra Space Storage and is not a guaranteed prediction by Public.com or investment advice.
EXR Analyst Forecast & Price Prediction
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