Intrinsic value of Extra Space Storage - EXR

Previous Close

$85.15

  Intrinsic Value

$4.44

stock screener

  Rating & Target

str. sell

-95%

Previous close

$85.15

 
Intrinsic value

$4.44

 
Up/down potential

-95%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as EXR.

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of EXR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  26.85
  10.50
  9.95
  9.45
  9.01
  8.61
  8.25
  7.92
  7.63
  7.37
  7.13
  6.92
  6.73
  6.55
  6.40
  6.26
  6.13
  6.02
  5.92
  5.83
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.39
  5.36
  5.32
  5.29
  5.26
Revenue, $m
  992
  1,096
  1,205
  1,319
  1,438
  1,562
  1,691
  1,825
  1,964
  2,109
  2,259
  2,415
  2,578
  2,746
  2,922
  3,105
  3,295
  3,494
  3,701
  3,916
  4,141
  4,376
  4,621
  4,877
  5,145
  5,424
  5,717
  6,023
  6,344
  6,679
  7,030
Variable operating expenses, $m
 
  282
  310
  339
  370
  401
  434
  469
  505
  542
  581
  621
  662
  706
  751
  798
  847
  898
  951
  1,006
  1,064
  1,125
  1,188
  1,253
  1,322
  1,394
  1,469
  1,548
  1,630
  1,717
  1,807
Fixed operating expenses, $m
 
  301
  309
  317
  325
  333
  341
  349
  358
  367
  376
  386
  395
  405
  415
  426
  436
  447
  459
  470
  482
  494
  506
  519
  532
  545
  559
  573
  587
  602
  617
Total operating expenses, $m
  542
  583
  619
  656
  695
  734
  775
  818
  863
  909
  957
  1,007
  1,057
  1,111
  1,166
  1,224
  1,283
  1,345
  1,410
  1,476
  1,546
  1,619
  1,694
  1,772
  1,854
  1,939
  2,028
  2,121
  2,217
  2,319
  2,424
Operating income, $m
  450
  513
  587
  664
  744
  828
  915
  1,006
  1,101
  1,199
  1,302
  1,409
  1,520
  1,635
  1,756
  1,881
  2,012
  2,149
  2,291
  2,440
  2,595
  2,757
  2,927
  3,105
  3,291
  3,485
  3,689
  3,903
  4,126
  4,361
  4,607
EBITDA, $m
  633
  743
  839
  940
  1,045
  1,155
  1,269
  1,389
  1,512
  1,641
  1,775
  1,915
  2,060
  2,211
  2,368
  2,532
  2,703
  2,881
  3,066
  3,260
  3,463
  3,674
  3,895
  4,127
  4,369
  4,622
  4,887
  5,165
  5,456
  5,760
  6,080
Interest expense (income), $m
  122
  151
  168
  187
  206
  227
  248
  270
  293
  316
  341
  367
  394
  421
  450
  480
  511
  544
  578
  613
  650
  688
  728
  770
  814
  860
  907
  957
  1,010
  1,064
  1,122
Earnings before tax, $m
  413
  362
  418
  477
  538
  601
  667
  736
  808
  883
  961
  1,042
  1,126
  1,214
  1,306
  1,401
  1,501
  1,605
  1,713
  1,827
  1,945
  2,069
  2,199
  2,335
  2,477
  2,626
  2,782
  2,945
  3,117
  3,296
  3,485
Tax expense, $m
  16
  98
  113
  129
  145
  162
  180
  199
  218
  238
  259
  281
  304
  328
  353
  378
  405
  433
  463
  493
  525
  559
  594
  630
  669
  709
  751
  795
  841
  890
  941
Net income, $m
  366
  265
  305
  348
  392
  439
  487
  538
  590
  645
  701
  761
  822
  886
  953
  1,023
  1,096
  1,171
  1,251
  1,333
  1,420
  1,510
  1,605
  1,704
  1,808
  1,917
  2,031
  2,150
  2,275
  2,406
  2,544

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  44
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,091
  7,774
  8,548
  9,356
  10,199
  11,077
  11,990
  12,940
  13,928
  14,954
  16,020
  17,129
  18,281
  19,479
  20,725
  22,022
  23,372
  24,779
  26,245
  27,774
  29,369
  31,034
  32,773
  34,589
  36,487
  38,471
  40,547
  42,718
  44,991
  47,370
  49,861
Adjusted assets (=assets-cash), $m
  7,047
  7,774
  8,548
  9,356
  10,199
  11,077
  11,990
  12,940
  13,928
  14,954
  16,020
  17,129
  18,281
  19,479
  20,725
  22,022
  23,372
  24,779
  26,245
  27,774
  29,369
  31,034
  32,773
  34,589
  36,487
  38,471
  40,547
  42,718
  44,991
  47,370
  49,861
Revenue / Adjusted assets
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
  0.141
Average production assets, $m
  6,236
  6,890
  7,576
  8,292
  9,039
  9,818
  10,627
  11,469
  12,345
  13,254
  14,199
  15,181
  16,203
  17,264
  18,369
  19,518
  20,715
  21,962
  23,262
  24,617
  26,031
  27,506
  29,047
  30,657
  32,339
  34,098
  35,938
  37,862
  39,876
  41,985
  44,193
Working capital, $m
  0
  -48
  -53
  -58
  -63
  -69
  -74
  -80
  -86
  -93
  -99
  -106
  -113
  -121
  -129
  -137
  -145
  -154
  -163
  -172
  -182
  -193
  -203
  -215
  -226
  -239
  -252
  -265
  -279
  -294
  -309
Total debt, $m
  4,306
  4,809
  5,341
  5,897
  6,477
  7,081
  7,709
  8,363
  9,042
  9,748
  10,482
  11,244
  12,037
  12,861
  13,719
  14,611
  15,540
  16,508
  17,517
  18,569
  19,666
  20,812
  22,008
  23,257
  24,563
  25,928
  27,356
  28,850
  30,414
  32,050
  33,764
Total liabilities, $m
  4,847
  5,349
  5,881
  6,437
  7,017
  7,621
  8,249
  8,903
  9,582
  10,288
  11,022
  11,784
  12,577
  13,401
  14,259
  15,151
  16,080
  17,048
  18,057
  19,109
  20,206
  21,352
  22,548
  23,797
  25,103
  26,468
  27,896
  29,390
  30,954
  32,590
  34,304
Total equity, $m
  2,245
  2,426
  2,667
  2,919
  3,182
  3,456
  3,741
  4,037
  4,345
  4,666
  4,998
  5,344
  5,704
  6,077
  6,466
  6,871
  7,292
  7,731
  8,189
  8,666
  9,163
  9,683
  10,225
  10,792
  11,384
  12,003
  12,651
  13,328
  14,037
  14,779
  15,557
Total liabilities and equity, $m
  7,092
  7,775
  8,548
  9,356
  10,199
  11,077
  11,990
  12,940
  13,927
  14,954
  16,020
  17,128
  18,281
  19,478
  20,725
  22,022
  23,372
  24,779
  26,246
  27,775
  29,369
  31,035
  32,773
  34,589
  36,487
  38,471
  40,547
  42,718
  44,991
  47,369
  49,861
Debt-to-equity ratio
  1.918
  1.980
  2.000
  2.020
  2.040
  2.050
  2.060
  2.070
  2.080
  2.090
  2.100
  2.100
  2.110
  2.120
  2.120
  2.130
  2.130
  2.140
  2.140
  2.140
  2.150
  2.150
  2.150
  2.160
  2.160
  2.160
  2.160
  2.160
  2.170
  2.170
  2.170
Adjusted equity ratio
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312
  0.312

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  366
  265
  305
  348
  392
  439
  487
  538
  590
  645
  701
  761
  822
  886
  953
  1,023
  1,096
  1,171
  1,251
  1,333
  1,420
  1,510
  1,605
  1,704
  1,808
  1,917
  2,031
  2,150
  2,275
  2,406
  2,544
Depreciation, amort., depletion, $m
  183
  230
  253
  276
  301
  327
  354
  382
  411
  442
  473
  506
  540
  575
  612
  651
  691
  732
  775
  821
  868
  917
  968
  1,022
  1,078
  1,137
  1,198
  1,262
  1,329
  1,399
  1,473
Funds from operations, $m
  548
  494
  558
  624
  694
  766
  841
  920
  1,001
  1,086
  1,175
  1,267
  1,362
  1,462
  1,565
  1,673
  1,786
  1,903
  2,026
  2,154
  2,288
  2,427
  2,573
  2,726
  2,886
  3,053
  3,229
  3,412
  3,604
  3,806
  4,017
Change in working capital, $m
  9
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -15
Cash from operations, $m
  539
  499
  563
  629
  699
  772
  847
  926
  1,008
  1,093
  1,181
  1,273
  1,369
  1,469
  1,573
  1,681
  1,794
  1,912
  2,035
  2,163
  2,298
  2,438
  2,584
  2,737
  2,898
  3,066
  3,241
  3,426
  3,618
  3,821
  4,033
Maintenance CAPEX, $m
  0
  -208
  -230
  -253
  -276
  -301
  -327
  -354
  -382
  -411
  -442
  -473
  -506
  -540
  -575
  -612
  -651
  -691
  -732
  -775
  -821
  -868
  -917
  -968
  -1,022
  -1,078
  -1,137
  -1,198
  -1,262
  -1,329
  -1,399
New CAPEX, $m
  -1,115
  -654
  -686
  -716
  -747
  -778
  -810
  -842
  -875
  -909
  -945
  -982
  -1,021
  -1,062
  -1,105
  -1,150
  -1,197
  -1,247
  -1,300
  -1,355
  -1,414
  -1,476
  -1,541
  -1,610
  -1,682
  -1,759
  -1,840
  -1,925
  -2,014
  -2,109
  -2,208
Cash from investing activities, $m
  -1,032
  -862
  -916
  -969
  -1,023
  -1,079
  -1,137
  -1,196
  -1,257
  -1,320
  -1,387
  -1,455
  -1,527
  -1,602
  -1,680
  -1,762
  -1,848
  -1,938
  -2,032
  -2,130
  -2,235
  -2,344
  -2,458
  -2,578
  -2,704
  -2,837
  -2,977
  -3,123
  -3,276
  -3,438
  -3,607
Free cash flow, $m
  -493
  -364
  -353
  -339
  -325
  -308
  -290
  -270
  -250
  -228
  -206
  -182
  -158
  -133
  -107
  -80
  -53
  -25
  3
  33
  63
  94
  126
  159
  194
  229
  265
  303
  342
  383
  425
Issuance/(repayment) of debt, $m
  756
  503
  532
  556
  580
  604
  629
  654
  679
  706
  734
  762
  793
  824
  857
  892
  929
  968
  1,009
  1,052
  1,097
  1,145
  1,196
  1,250
  1,306
  1,365
  1,428
  1,494
  1,563
  1,637
  1,714
Issuance/(repurchase) of shares, $m
  125
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  829
  503
  532
  556
  580
  604
  629
  654
  679
  706
  734
  762
  793
  824
  857
  892
  929
  968
  1,009
  1,052
  1,097
  1,145
  1,196
  1,250
  1,306
  1,365
  1,428
  1,494
  1,563
  1,637
  1,714
Total cash flow (excl. dividends), $m
  336
  139
  180
  217
  255
  296
  339
  383
  429
  478
  528
  580
  635
  691
  751
  812
  876
  943
  1,012
  1,085
  1,161
  1,240
  1,322
  1,409
  1,499
  1,594
  1,693
  1,797
  1,906
  2,020
  2,139
Retained Cash Flow (-), $m
  -156
  -225
  -241
  -252
  -263
  -274
  -285
  -296
  -308
  -320
  -333
  -346
  -359
  -374
  -389
  -405
  -421
  -439
  -457
  -477
  -498
  -519
  -542
  -567
  -592
  -619
  -648
  -677
  -709
  -742
  -777
Prev. year cash balance distribution, $m
 
  44
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -41
  -62
  -36
  -8
  22
  54
  87
  121
  158
  195
  235
  275
  318
  362
  407
  455
  504
  555
  608
  663
  720
  780
  842
  907
  975
  1,046
  1,119
  1,197
  1,277
  1,362
Discount rate, %
 
  10.10
  10.61
  11.14
  11.69
  12.28
  12.89
  13.53
  14.21
  14.92
  15.67
  16.45
  17.27
  18.14
  19.05
  20.00
  21.00
  22.05
  23.15
  24.31
  25.52
  26.80
  28.14
  29.55
  31.02
  32.57
  34.20
  35.91
  37.71
  39.59
  41.57
PV of cash for distribution, $m
 
  -38
  -50
  -26
  -5
  12
  26
  36
  42
  45
  46
  44
  41
  36
  32
  26
  22
  17
  13
  10
  7
  5
  3
  2
  1
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development. The Company's rental operations activities include rental operations of stores in which it has an ownership interest. The Tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in its stores. The Company's property management, acquisition and development activities include managing, acquiring, developing and selling stores. The Company's interest in its stores is held through its operating partnership, Extra Space Storage LP (the Operating Partnership). Its primary assets are general partner and limited partner interests in the Operating Partnership.

FINANCIAL RATIOS  of  Extra Space Storage (EXR)

Valuation Ratios
P/E Ratio 29.3
Price to Sales 10.8
Price to Book 4.8
Price to Tangible Book
Price to Cash Flow 19.9
Price to Free Cash Flow -18.6
Growth Rates
Sales Growth Rate 26.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 190.4%
Cap. Spend. - 3 Yr. Gr. Rate 25.2%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 191.8%
Total Debt to Equity 191.8%
Interest Coverage 4
Management Effectiveness
Return On Assets 7.3%
Ret/ On Assets - 3 Yr. Avg. 6.2%
Return On Total Capital 6%
Ret/ On T. Cap. - 3 Yr. Avg. 4.8%
Return On Equity 16.9%
Return On Equity - 3 Yr. Avg. 12.3%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 74.5%
Gross Margin - 3 Yr. Avg. 72.8%
EBITDA Margin 72.4%
EBITDA Margin - 3 Yr. Avg. 63.3%
Operating Margin 45.4%
Oper. Margin - 3 Yr. Avg. 42%
Pre-Tax Margin 41.6%
Pre-Tax Margin - 3 Yr. Avg. 33.8%
Net Profit Margin 36.9%
Net Profit Margin - 3 Yr. Avg. 29.5%
Effective Tax Rate 3.9%
Eff/ Tax Rate - 3 Yr. Avg. 4.1%
Payout Ratio 100.5%

EXR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EXR stock intrinsic value calculation we used $992 million for the last fiscal year's total revenue generated by Extra Space Storage. The default revenue input number comes from 2016 income statement of Extra Space Storage. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EXR stock valuation model: a) initial revenue growth rate of 10.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.1%, whose default value for EXR is calculated based on our internal credit rating of Extra Space Storage, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Extra Space Storage.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EXR stock the variable cost ratio is equal to 25.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $294 million in the base year in the intrinsic value calculation for EXR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Extra Space Storage.

Corporate tax rate of 27% is the nominal tax rate for Extra Space Storage. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EXR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EXR are equal to 628.6%.

Life of production assets of 34.1 years is the average useful life of capital assets used in Extra Space Storage operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EXR is equal to -4.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2245 million for Extra Space Storage - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 126.472 million for Extra Space Storage is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Extra Space Storage at the current share price and the inputted number of shares is $10.8 billion.

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COMPANY NEWS

▶ Whats the Outlook for Extra Space Storage?   [Jan-15-18 10:31AM  Market Realist]
▶ Extra Space Storage Shows Improved Relative Strength; Still Shy Of Benchmark   [Dec-12-17 03:00AM  Investor's Business Daily]
▶ At $85.67, Is It Time To Buy Extra Space Storage Inc (EXR)?   [Nov-16-17 02:07PM  Simply Wall St.]
▶ REIT Stock With 3.6% Dividend Trading In Buy Zone   [Nov-06-17 10:50AM  Investor's Business Daily]
▶ Extra Space Storage reports 3Q results   [Nov-01-17 05:01PM  Associated Press]
▶ Extra Space Storage Inc. Provides Hurricane Irma Update   [Sep-14-17 07:17PM  PR Newswire]
▶ [$$] Life Storage Set to Top Extra Space   [Sep-12-17 11:12AM  Barrons.com]
▶ Harvey will hit these industries toonot just oil & gas: NYSE trader   [Aug-30-17 01:35PM  Yahoo Finance Video]
▶ Extra Space Storage reports 2Q results   [Aug-01-17 10:56PM  Associated Press]
▶ How Analysts View Public Storage   [09:06AM  Market Realist]
▶ 3 Stocks to Add to Your Social Security Income   [Jul-07-17 02:02PM  Motley Fool]
▶ How Analysts View Public Storage   [Jun-28-17 07:36AM  Market Realist]
▶ Where Public Storage Stands Compared to Its Peers   [Jun-27-17 10:36AM  Market Realist]
▶ Focus on Quality Helps Public Storage Maintain Occupancy   [Jun-26-17 07:38AM  Market Realist]
▶ The 3 Best Real Estate Stocks to Buy in 2017   [May-26-17 01:33PM  Motley Fool]
Financial statements of EXR
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