NYSE: EXR · Industrial REITs
Extra Space Storage (EXR) fair value: undervalued or overvalued?
As of 3 Oct 2026, Faircurve's model values Extra Space Storage (EXR) at $119.15 a share. The stock last closed at $133.25, which puts the model's fair value 10.6% below the price. On the model's bands that reads as Overvalued.
Revalued . Price is the close of 2 Oct 2026. Extra Space Storage Inc.
Faircurve Insights · 3 Oct 2026
Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust, headquartered in Salt Lake City, Utah, and is a member of the S&P 500 index.
Faircurve's model found a fair value of $119.15 a share on 3 Oct 2026. This fair value moved -1.1% since the previous run on 26 Sep 2026, which gave $120.52. The calibrated range over 63 trading days is $99.41 to $144.45; this range held the price 60% of the time at this horizon. The model's evidence grade is High, based on the dividend record.
The model compares the company with Public Storage (PSA), EastGroup Properties, Inc. (EGP), CubeSmart (CUBE), Rexford Industrial Realty, Inc. (REXR), First Industrial Realty Trust, Inc. (FR), STAG Industrial, Inc. (STAG), Terreno Realty Corporation (TRNO), and Prologis, Inc. (PLD). The stock's moves around its last 8 earnings reports had a median size, ignoring direction, of 3.2%.
Written from the figures on this page for the 3 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give EXR?
The calibrated range for EXR over 63 trading days is $99.41 to $144.45. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 4,809 past valuations, refreshed 3 Oct 2026). Ranges built this way held the price 60% of the time at this horizon.
The model's own range is $109.65 to $130.28.
How does EXR compare with similar companies?
The companies in industrial reits closest to Extra Space Storage in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| PSA Public Storage | $283.81 | $285.38 | +0.6% | Fairly valued |
| EGP EastGroup Properties, Inc. | $195.78 | $141.27 | -27.8% | Overvalued |
| CUBE CubeSmart | $37.52 | $42.56 | +13.4% | Undervalued |
| REXR Rexford Industrial Realty, Inc. | $36.69 | $40.34 | +9.9% | Undervalued |
| FR First Industrial Realty Trust, Inc. | $59.46 | $51.63 | -13.2% | Overvalued |
| STAG STAG Industrial, Inc. | $36.05 | $35.10 | -2.6% | Fairly valued |
| TRNO Terreno Realty Corporation | $64.54 | $61.36 | -4.9% | Fairly valued |
| PLD Prologis, Inc. | $128.91 | $101.84 | -21.0% | Overvalued |
When does EXR report earnings, and how has the stock reacted?
Extra Space Storage's next earnings report is scheduled for 4 Nov 2026. Companies can move their dates.
Options prices on 2 Oct 2026 imply a move of about 8.4% in either direction through the nearest expiry, about 48 days out, a window that includes the report. That is the size the market is pricing, not a direction.
How EXR moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 3.2%.
| Report date | Two session move |
|---|---|
| 28 Jul 2026 | +3.1% |
| 28 Apr 2026 | +0.6% |
| 19 Feb 2026 | +5.2% |
| 29 Oct 2025 | -8.2% |
| 30 Jul 2025 | -11.6% |
| 29 Apr 2025 | +3.2% |
| 25 Feb 2025 | -3.2% |
| 29 Oct 2024 | -1.6% |
Extra Space Storage at a glance
Extra Space Storage Inc., a prominent, self-administered and self-managed real estate investment trust (REIT), is headquartered in Salt Lake City, Utah, and holds a distinguished place as a member of the S&P 500 index.
- Market value
- $28.2B
- Sector
- Real Estate
- Industry
- Industrial REITs
- Beta to the US market
- 0.33
- First valued by Faircurve
- 4 Jul 2026
How the fair value is worked out: the model values Extra Space Storage three ways and blends them; the range around the fair value comes from 2,000 simulations of the dividend model. The full method is documented here.
What changed in the latest valuation?
On 26 Sep 2026 the model's fair value for EXR was $120.52. As of 3 Oct 2026 it is $119.15, a change of -1.1%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Extra Space Storage's valuation
Is Extra Space Storage stock undervalued or overvalued?
On Faircurve's model, EXR reads as Overvalued as of 3 Oct 2026. The model's fair value is $119.15 a share against a last close of $133.25, a gap of -10.6%.
What is EXR's fair value?
$119.15 a share as of 3 Oct 2026. The fair value blends three methods: a cash-flow multiple against comparable companies, a dividend model, and the value of the properties. The model's own range is $109.65 to $130.28.
What price range does the model give EXR?
$99.41 to $144.45 over 63 trading days. Ranges built this way held the price 60% of the time across 4,809 past valuations, refreshed 3 Oct 2026.
When does Extra Space Storage report earnings next?
The next report is scheduled for 4 Nov 2026. Companies can move their dates.
How much has EXR moved on past earnings reports?
Across its last 8 reports the median two session move was 3.2%, ignoring direction. The largest was -11.6% around the report of 30 Jul 2025.
How confident is the model in this valuation?
The model's evidence grade for EXR is high. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It is not a probability that the fair value is right, or that the price reaches it.