Extra Space Storage Inc. (EXR)

In the past six months, Extra Space Storage's stock (EXR) has experienced fluctuations and analyst re-evaluations. The stock was down 6.80% over the past six months and 5.01% over the past year as of January 12, 2026. Key events include the Q3 2025 earnings report with a decrease in net income and same-store revenue, the Q2 2025 earnings report with an increase in net income, dividend announcements of $1.62 per share for Q2 and Q3 2025, and analyst rating changes with some firms raising and others lowering price targets. The company has faced a weak environment for the public storage sector due to low housing turnover and excess supply, leading to a drop in street rents and a decline in occupancy.

Demand for Extra Space Storage's products and services exhibits seasonality, with the busy season running from spring through summer, peaking from May through August, driven by residential moves, home renovations, and students. Demand slows down during the fall and winter months due to fewer people moving and inclement weather.

Extra Space Storage Inc. (EXR) is a self-administered and self-managed REIT based in Cottonwood Heights, Utah, operating in the Specialized REITs industry. It is the largest owner, operator, and property manager of self-storage units in the United States. The company owns, operates, manages, and redevelops self-storage properties, offering various storage unit sizes and ancillary services under the brands Extra Space Storage, Life Storage, and Storage Express.

As of September 30, 2025, Extra Space Storage owned and/or operated 4,238 self-storage stores across 43 states and Washington, D.C., comprising approximately 2.9 million units and 326.9 million square feet of rentable space, demonstrating vast geographic diversity across the United States.

Extra Space Storage generally maintains a positive brand reputation for its facilities and staff. However, a recurring issue affecting its reputation has been frequent and substantial rent increases, leading to customer frustration and concerns about security lapses at certain facilities.

Extra Space Storage Inc. is predominantly controlled by institutional investors, holding approximately 93.05% of the stock as of March 5, 2025. Major institutional shareholders include Vanguard Group Inc. and BlackRock, Inc. Individual investors and public companies own approximately 29.91% of the stock, while insiders hold about 0.93% to 1.08%. Spencer Kirk is the largest individual shareholder, owning 10.14 million shares. CEO Joseph D. Margolis's stake was reduced to 19,760 shares after a sale in October 2025.