Maryland-based Extra Space Storage Inc. (EXR) is a real estate investment trust (REIT) that offers a vast array of well-located storage systems, which comprise many units and many million square feet of rentable storage space. The company has a market cap of $31.1 billion and owns and/or operates 4,410 self-storage stores in 42 states and Washington, D.C.
EXR stock lagged behind the broader market over the past year, growing 5.9% compared to the S&P 500 Index’s ($SPX) 19.5% surge. However, in 2026, the stock has fallen nearly 13.1%, outperforming the SPX’s 11.6% rise.
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Zooming in, the State Street Real Estate Select Sector SPDR ETF (XLRE) has grown 8.6% over the past year, outperforming the stock. In 2026, XLRE has grown 12.1% and has lagged behind the stock.
www.barchart.com The company’s outperformance this year can be traced back to its better-than-expected Q2 2026 earnings. The company’s revenue for the quarter amounted to $874.2 million and surpassed the Street’s estimates. Moreover, its adjusted FFO came in at $2.15, also topping Wall Street’s forecasts. Extra Space Storage expects full-year funds from operations in the range of $8.25 to $8.40 per share.
For the current year, which ends in December, analysts expect EXR’s EPS to grow 1.3% to $8.32 on a diluted basis. The company surpassed the consensus estimate in each of the last four quarters.
Among 21 Wall Street analysts covering EXR stock, the consensus is a “Moderate Buy.” That’s based on seven “Strong Buy” ratings, one “Moderate Buy,” and 13 “Holds.”
www.barchart.com The configuration has remained more or less unchanged over the past months.
On July 11, Barclays analyst Brendan Lynch maintained a “Buy” rating on Extra Space Storage and set a price target of $172.
EXR’s mean price target of $158 offers a 7.6% upside compared to the current market price. Its Street-high target of $178 implies a robust 21.3% upside from current levels.
On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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