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EXR $134.64

EXR target price
134.64
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246
Extra Space Storage Inc.
Type
Public
Traded as NYSE: EXR
S&P 500 Component
Industry Real Estate Investment Trust self storage
Founded 1977
Headquarters Cottonwood Heights, Utah, United States
Number of locations
1,370
Area served
United States
Key people
Spencer Kirk, CEO
Kenneth Woolley, Founder and Chairman
Products Climate controlled and non-climate controlled storage units
Revenue $782.27 Million
Operating income
$294.66 Million
Net income
$209.54 Million
Number of employees
3209
Website http://www.extraspace.com

Extra Space Storage (NYSE: EXR) is a US provider of self-storage units, with over 1,415 facilities across 38 states plus Washington, D.C. and Puerto Rico. Headquartered in Cottonwood Heights, Utah, Extra Space Storage is the second largest owner and/or operator of self-storage properties in the United States, as well as the largest self-storage management company.

Extra Space Storage has been a publicly traded real estate investment trust (REIT) since 2004, and is traded on the New York Stock Exchange with the ticker symbol EXR. The company was founded in 1977 by Kenneth Woolley, who remains the chairman. Since Apr 2009, Spencer Kirk has served as the company's CEO.

Extra Space Storage, the publicly traded REIT launched on the NYSE under the symbol "EXR" in August 2004 is the successor to Extra Space Development Co., a Limited Partnership which was founded in 1979 by Kenneth M.Woolley as General Partner, Neilson Enterprises as Limited Partner, and with Richard S. Tanner joining Woolley as an additional General Partner shortly after its creation. Prior to creating Extra Space Development Woolley and Tanner had worked together in another real estate venture in 1975,and Woolley had built his first self-storage facility in Billings, Montana in 1977 with Bill Nielson of Nielson Enterprises. Between 1979 and 2004, Woolley and Tanner developed self-storage properties in California, Utah, Florida, Massachusetts, New Hampshire, Illinois, Nevada, Rhode Island, New York, Connecticut, and New Jersey. Tanner served as President of the affiliated Extra Space Management Co. for 15 years which managed owned and third party self-storage properties. Both Woolley and Tanner served as licensed Real Estate Brokers in multiple states which facilitated third party management and several acquisitions of existing storage properties. Over the years, several of the self-storage properties developed by Extra Space Development were sold to Public Storage or Storage USA, and Storage USA was acquired by Extra Space Storage shortly after going public.

Before going public, Extra Space Development created several joint ventures partnerships including with Prudential Real Estate and in 1998, eventual CEO Spencer Kirk joined Woolley as a 50-50 partner for many new properties being developed or acquired. . Kirk was previously the co-founder of Megahertz, a laptop modem company that was purchased by USRobotics in 1994, and later by 3Com.

In August, 2004, Extra Space held its initial public offering on the New York Stock Exchange using the symbol "EXR", opening at $12.50 per share.

In 2005, as part of a joint venture with Prudential Real Estate, Extra Space acquired Storage USA for $2.3 Billion, adding 458 additional properties. With Woolley as CEO and Tanner as its SVP of Construction and Development, Extra Space Storage continued growth through developments exceeding $100M/yr, combined with additional acquisitions of existing properties and expansion of its 3rd party management contracts. With the economic changes of 2008 that especially impacted commercial real estate financing and construction, development and construction was wound down by 2010 and Extra Space focused growth efforts on selective acquisitions and third party management of properties under the Extra Space Storage brand.

As of August, 2014, Extra Space Storage owns and operates 1,106 facilities in the US. The company's properties comprise approximately 740,000 units, and over 81 million square feet of rentable storage space. Various types of storage units are offered by the company, including RV, boat, and automobile storage. The company also offers climate-controlled units, indoor and outdoor units, and locker units.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2023 2023-05-02 Future report Set alerts
Q4 2022 2023-02-22 1.52 1.52
Q3 2022 2022-11-01 1.65 1.65
Q2 2022 2022-08-02 1.64 1.64
Q1 2022 2022-05-03 1.51 1.51
Q4 2021 2022-02-23 2.00 2.00
Q3 2021 2021-10-27 1.40 1.40
Q2 2021 2021-07-27 1.25 1.25
Q1 2021 2021-04-28 1.53 1.53
Q4 2020 2021-02-22 1.19 1.19

Ratings

2016-07-06 Reiterated Rating Jefferies Group Buy
2016-06-24 Initiated Coverage DA Davidson Neutral $95.00
2016-05-31 Boost Price Target Jefferies Group Buy $105.00 to $110.00
2016-05-22 Reiterated Rating Cantor Fitzgerald Hold
2016-05-17 Reiterated Rating BMO Capital Markets Buy
2016-05-09 Boost Price Target RBC Capital Outperform $88.00 to $94.00
2016-05-09 Boost Price Target Royal Bank Of Canada Outperform $88.00 to $94.00
2016-03-21 Boost Price Target Evercore ISI $88.00
2016-02-29 Boost Price Target RBC Capital Outperform $83.00 to $88.00
2016-02-29 Boost Price Target BMO Capital Markets Outperform $91.00 to $95.00
2016-02-25 Reiterated Rating Cantor Fitzgerald Hold $82.00
2016-02-08 Lower Price Target Evercore ISI Hold $90.00 to $84.00
2016-01-25 Reiterated Rating Jefferies Group Buy $103.00 to $105.00
2015-12-14 Boost Price Target Cantor Fitzgerald Hold $79.00 to $82.00
2015-12-07 Upgrade KeyBanc Sector Weight to Overweight $94.00
2015-12-07 Upgrade KeyCorp Sector Weight to Overweight $94.00
2015-11-13 Upgrade Raymond James Outperform to Strong-Buy $80.00 to $90.00
2015-11-13 Upgrade Raymond James Financial Inc. Outperform to Strong-Buy $80.00 to $90.00
2015-11-10 Initiated Coverage BB&T Corp. Underweight $74.50 to $74.50
2015-11-02 Boost Price Target BMO Capital Markets Outperform $85.00 to $91.00
2015-10-26 Boost Price Target Jefferies Group Buy $85.00 to $91.00
2015-10-19 Boost Price Target Evercore ISI Hold $73.00 to $75.00
2015-10-02 Reiterated Rating Bank of America Outperform
2015-10-02 Boost Price Target Citigroup Inc. Neutral $70.00 to $80.00
2015-10-02 Reiterated Rating Bank of America Corp. Outperform
2015-09-08 Lower Price Target Evercore Partners Inc. Hold $74.00 to $72.00
2015-09-04 Boost Price Target Raymond James Outperform $78.00 to $80.00
2015-08-22 Reiterated Rating Bank of America Buy $82.00 to $85.00
2015-08-21 Boost Price Target Cantor Fitzgerald Hold $70.50 to $79.00
2015-08-17 Boost Price Target SunTrust Buy $75.00 to $87.00
2015-08-17 Boost Price Target SunTrust Banks Inc. Buy $75.00 to $87.00
2015-08-13 Upgrade BMO Capital Markets Market Perform to Outperform $70.00 to $85.00
2015-08-06 Reiterated Rating Jefferies Group Buy $85.00
2015-07-23 Initiated Coverage Robert W. Baird Outperform $83.00
2015-07-17 Reiterated Rating Morgan Stanley Equal Weight $61.00
2015-07-02 Reiterated Rating Evercore ISI Hold $68.00 to $69.00
2015-07-01 Initiated Coverage Bank of America Buy $65.00
2015-06-24 Boost Price Target Raymond James Outperform $77.00 to $78.00
2015-06-21 Set Price Target Cantor Fitzgerald Hold $70.50
2015-06-18 Boost Price Target Evercore ISI Hold $69.00 to $70.00
2015-06-09 Reiterated Rating Evercore ISI Hold $70.00 to $68.00
2015-05-29 Boost Price Target Jefferies Group Buy $77.00 to $80.00
2015-05-14 Boost Price Target RBC Capital Outperform $68.00 to $74.00
2015-05-11 Reiterated Rating Citigroup Inc. Neutral $59.00 to $70.00
2015-05-09 Reiterated Rating Jefferies Group Buy $75.00 to $77.00
2015-05-09 Reiterated Rating BMO Capital Markets Market Perform $42.00 to $70.00
2015-04-30 Reiterated Rating Cantor Fitzgerald Hold $60.50
2015-01-26 Reiterated Rating Evercore ISI Buy to Hold $66.00 to $69.00
2014-12-22 Upgrade Evercore ISI Hold to Buy $62.00 to $66.00
2014-12-15 Boost Price Target Citigroup Inc. Neutral $52.00 to $59.00
2014-11-17 Initiated Coverage Jefferies Group Buy $60.00 to $65.00
2014-11-03 Downgrade Cantor Fitzgerald Buy to Hold $55.00
2014-10-14 Initiated Coverage Jefferies Group Buy $57.00 to $60.00
2014-09-17 Upgrade Jefferies Group Hold to Buy
2014-09-16 Reiterated Rating Citigroup Inc. Neutral $51.00 to $52.00
2014-08-28 Reiterated Rating SunTrust Buy $58.00 to $61.00
2014-08-15 Boost Price Target RBC Capital Outperform $54.00 to $58.00
2014-07-31 Boost Price Target Evercore ISI $54.00 to $57.00
2014-07-22 Boost Price Target Jefferies Group $53.00 to $57.00
2014-05-08 Downgrade Jefferies Group Buy to Hold $53.00
2014-05-05 Downgrade KeyBanc Buy to Hold $50.00
2014-05-01 Reiterated Rating Citigroup Inc. Hold $51.00
2014-04-30 Reiterated Rating Raymond James Outperform $58.00
2014-04-10 Upgrade Macquarie Neutral to Outperform $51.00 to $52.50
2014-04-03 Downgrade Goldman Sachs Conviction-Buy to Buy $55.00
2014-03-17 Downgrade Macquarie Outperform to Neutral $51.00
2014-03-07 Boost Price Target RBC Capital Outperform $48.00 to $52.00
2014-02-25 Boost Price Target Jefferies Group $50.00 to $53.00
2014-02-24 Downgrade Evercore ISI Buy to Neutral $47.00 to $49.00
2013-12-17 Upgrade BMO Capital Markets Underperform to Market Perform $42.00
2013-12-03 Upgrade Goldman Sachs Buy to Conviction-Buy
2013-11-25 Upgrade Evercore ISI Neutral to Buy
2013-11-22 Boost Price Target RBC Capital $47.00 to $48.00
2013-10-22 Downgrade Raymond James Strong-Buy to Outperform $48.00 to $56.00
2013-09-18 Boost Price Target Jefferies Group Buy $49.00 to $52.00
2013-09-17 Downgrade Goldman Sachs Conviction-Buy to Buy
2013-01-24 Reiterated Wunderlich Hold $8 to $9.50
2016-07-06 Reiterated Rating Jefferies Group Buy
2016-06-24 Initiated Coverage DA Davidson Neutral $95.00
2016-05-31 Boost Price Target Jefferies Group Buy $105.00 to $110.00
2016-05-22 Reiterated Rating Cantor Fitzgerald Hold
2016-05-17 Reiterated Rating BMO Capital Markets Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Kirk Spencer Chairman of the Board and CEO 1.60%  (1852276) EXR /
Woolley Kenneth M. 0.70%  (807444) AMH / EXR /
Christensen Kent Executive VP & CFO 0.27%  (310144) EXR /
Allen Charles Executive VP & CLO 0.18%  (213947) EXR /
Stubbs P Scott Senior VP Accounting 0.12%  (135723) EXR / ZAGG /
PORTER ROGER B 0.11%  (125145) EXR / PKG / TEN / ZION /
Margolis Joseph D 0.09%  (103208) EXR /
Haas Karl Executive VP & COO 0.08%  (88881) EXR /
OVERTURF JAMES SVP/Chief Marketing Officer 0.07%  (79937) EXR /
Sondhi Samrat SVP Operations 0.06%  (69607) EXR /
SKOUSEN K FRED 0.03%  (33157) EXR /
Fanticola Anthony 0.03%  (31314) EXR /
McNeal Gwyn Goodson SVP/Chief Legal Officer 0.02%  (19753) EXR /
KUNDE GRACE VP and Corporate Controller 0.01%  (12698) EXR /
Horne Hugh 0.01%  (9980) EXR /