Extra Space Storage Promotes Noah Springer to President, Driving Strategic Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 05 2026
0mins
Should l Buy EXR?
Source: Newsfilter
- Leadership Change: Extra Space Storage has promoted Noah Springer to President, overseeing the company's operations function, which marks a significant strategic adjustment expected to further drive the company's growth and cultural development.
- Management Platform Expansion: Springer played a key role in developing the company's third-party management platform, Management Plus, which has become the largest in the industry with over 1,800 locations, showcasing the company's leadership position in the market.
- Rich Experience: Since joining in 2006, Springer has accumulated extensive experience in acquisitions, asset management, and human resources, and his deep background is expected to bring more efficient operations and innovation to the company.
- Investor Engagement: Springer and other executives will present at the KeyBanc Capital Markets Self Storage Investor Forum in New York on January 8, 2026, further enhancing the company's visibility and credibility among investors.
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Analyst Views on EXR
Wall Street analysts forecast EXR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EXR is 152.00 USD with a low forecast of 142.00 USD and a high forecast of 178.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
4 Buy
7 Hold
0 Sell
Moderate Buy
Current: 138.540
Low
142.00
Averages
152.00
High
178.00
Current: 138.540
Low
142.00
Averages
152.00
High
178.00
About EXR
Extra Space Storage, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, provides lending to, acquires, develops and redevelops self-storage properties (stores). Its stores offer month-to-month rental of storage space for personal or business use. Its segments include self-storage operations and tenant reinsurance. Its self-storage operations segment includes rental operations of wholly owned stores. Its tenant reinsurance segment includes the reinsurance of risks relating to the loss of goods stored by tenants in its stores. The Company owns and operates 4,238 self-storage properties, which comprise approximately 2.9 million units and approximately 326.9 million square feet of rentable storage space operating under the Extra Space brand. It offers customers a selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
BofA Downgrades Self-Storage REITs, Impacting Stocks
- Rating Downgrade Impact: BofA Securities downgraded Public Storage (PSA) from Buy to Neutral, lowering the price target from $336 to $310, which led to a 1.79% drop in PSA's stock price to $283.34 during Thursday morning trading, reflecting market concerns over future profitability.
- Revenue Growth Slowdown: BofA highlighted that despite PSA's fundamentals having bottomed, there are no meaningful catalysts to drive improvement, and limited rental revenue growth is expected in 2026, particularly due to pricing restrictions related to the Los Angeles fires affecting 16.2% of same-store net operating income.
- EXR Rating Downgrade: Extra Space Storage (EXR) was downgraded to Underperform with a price target cut from $163 to $143, as BofA noted a lack of clear signs of demand recovery, which could lead to guidance falling short of market expectations and increase the risk of near-term negative revenue surprises.
- Divergent Market Reactions: While BofA lowered its 2026 same-store revenue growth assumptions by approximately 30 basis points and cut estimates by about 1.3% for both self-storage REITs, some analysts still rate PSA as a Buy, whereas EXR faces mixed opinions, with Quant rating it as Hold.
See More
Extra Space Storage (EXR) Announces 2025 Dividend Tax Allocations with $6.48 Total Distribution
- Dividend Overview: Extra Space Storage announced a total dividend distribution of $6.48 per share for 2025, with ordinary dividends amounting to $5.55 per share, reflecting the company's ongoing profitability and commitment to shareholder returns.
- Tax Classification Details: According to tax regulations, 76.38% of the capital gain distribution is excluded, while the remaining 23.62% is classified as a Three Year Amount, indicating the company's transparency and accountability in tax compliance.
- Shareholder Advisory: The company encourages shareholders to consult their personal tax advisors to ensure clarity on the specific tax treatment of distributions, demonstrating the company's focus on shareholder interests.
- Company Background: As of September 30, 2025, Extra Space Storage owned and operated 4,238 self-storage stores across 43 states and Washington, D.C., providing approximately 326.9 million square feet of rentable space, solidifying its leadership position in the U.S. self-storage market.
See More
Extra Space Storage (EXR) to Release 2025 Financial Results on February 19
- Earnings Release Schedule: Extra Space Storage will announce its financial results for 2025 after market close on February 19, 2026, expected to provide insights into operational performance and market dynamics, aiding investors in assessing future growth potential.
- Conference Call Timing: The company will host a conference call on February 20, 2026, at 1:00 PM ET, led by CEO Joe Margolis, to discuss financial results and answer questions from registered analysts, ensuring transparency of information.
- Webcast and Replay: The conference call will be available via live webcast on the company's investor relations page, with a replay starting February 20, 2026, at 5:00 PM ET, accessible for one year, allowing investors who missed the live event to catch up on key insights.
- Company Overview: Extra Space Storage is the largest operator of self-storage properties in the U.S., owning and operating 4,238 self-storage stores as of September 30, 2025, offering approximately 326.9 million square feet of rentable space, highlighting its market leadership.
See More
Goldman Sachs Sees Limited Demand Catalysts for Public Storage in 2026, Market Performance Impacting Earnings
- Demand Outlook: Goldman Sachs anticipates limited demand catalysts for Public Storage in 2026, indicating that the market environment may pose challenges to the company's future revenue growth, particularly amid an economic slowdown.
- Earnings Impact Assessment: Market performance has a significant impact on Public Storage's profitability, and if demand fails to recover, it could lead to a decline in earnings, thereby affecting shareholder returns.
- Market Environment Monitoring: Goldman Sachs' analysis underscores the importance of closely monitoring market dynamics, especially in the context of weak demand, as companies need to adopt strategies to mitigate potential earnings pressure.
- Investor Confidence Challenge: Given the pessimistic outlook on future demand, investors may reassess their investment strategies regarding Public Storage, potentially impacting its stock performance and overall market confidence.
See More
Goldman Sachs Cuts Public Storage Price Target to $321, Maintains Buy Rating
- Market Impact: Analyst Caitlin Burrows from Goldman Sachs indicated that same-store revenue growth for 2026 could range from -1.0% to +1.2%, highlighting the significant impact of portfolio footprint and market performance on earnings.
- Geographic Analysis: The analyst noted that the performance in Los Angeles could significantly affect Public Storage's profitability if wildfire pricing restrictions are lifted, emphasizing the strategic importance of geographic location.
- Competitive Advantage: Public Storage (PSA) is outperforming rival Extra Space Storage (EXR) in overlapping markets, demonstrating the company's execution strength and strategic advantages in the sector.
- Stock Price Dynamics: As of Thursday, PSA shares rose by 0.80% to $290.07, reflecting a positive market sentiment towards the company's outlook.
See More
Extra Space Storage (EXR) Receives Overweight Rating with $151 Price Target
- Rating Analysis: Extra Space Storage (EXR) has received an overweight rating, indicating analysts' optimistic outlook on its future performance, with a projected price target of $151 reflecting market recognition of its growth potential.
- Market Expectations: This price target is based on the company's robust performance in the self-storage industry and ongoing demand growth, which may attract more investor attention and enhance its market value.
- Investor Confidence: The positive rating from analysts could bolster investor confidence in EXR, promoting capital inflow and further driving up the stock price, thereby enhancing the company's competitiveness in the industry.
- Future Outlook: As demand for self-storage continues to grow, EXR's price target and rating may support the company's future expansion and investment decisions, aiding its long-term development strategy.
See More
BofA Downgrades Self-Storage REITs, Impacting Stocks
- Rating Downgrade Impact: BofA Securities downgraded Public Storage (PSA) from Buy to Neutral, lowering the price target from $336 to $310, which led to a 1.79% drop in PSA's stock price to $283.34 during Thursday morning trading, reflecting market concerns over future profitability.
- Revenue Growth Slowdown: BofA highlighted that despite PSA's fundamentals having bottomed, there are no meaningful catalysts to drive improvement, and limited rental revenue growth is expected in 2026, particularly due to pricing restrictions related to the Los Angeles fires affecting 16.2% of same-store net operating income.
- EXR Rating Downgrade: Extra Space Storage (EXR) was downgraded to Underperform with a price target cut from $163 to $143, as BofA noted a lack of clear signs of demand recovery, which could lead to guidance falling short of market expectations and increase the risk of near-term negative revenue surprises.
- Divergent Market Reactions: While BofA lowered its 2026 same-store revenue growth assumptions by approximately 30 basis points and cut estimates by about 1.3% for both self-storage REITs, some analysts still rate PSA as a Buy, whereas EXR faces mixed opinions, with Quant rating it as Hold.
See More
Extra Space Storage (EXR) Announces 2025 Dividend Tax Allocations with $6.48 Total Distribution
- Dividend Overview: Extra Space Storage announced a total dividend distribution of $6.48 per share for 2025, with ordinary dividends amounting to $5.55 per share, reflecting the company's ongoing profitability and commitment to shareholder returns.
- Tax Classification Details: According to tax regulations, 76.38% of the capital gain distribution is excluded, while the remaining 23.62% is classified as a Three Year Amount, indicating the company's transparency and accountability in tax compliance.
- Shareholder Advisory: The company encourages shareholders to consult their personal tax advisors to ensure clarity on the specific tax treatment of distributions, demonstrating the company's focus on shareholder interests.
- Company Background: As of September 30, 2025, Extra Space Storage owned and operated 4,238 self-storage stores across 43 states and Washington, D.C., providing approximately 326.9 million square feet of rentable space, solidifying its leadership position in the U.S. self-storage market.
See More
Extra Space Storage (EXR) to Release 2025 Financial Results on February 19
- Earnings Release Schedule: Extra Space Storage will announce its financial results for 2025 after market close on February 19, 2026, expected to provide insights into operational performance and market dynamics, aiding investors in assessing future growth potential.
- Conference Call Timing: The company will host a conference call on February 20, 2026, at 1:00 PM ET, led by CEO Joe Margolis, to discuss financial results and answer questions from registered analysts, ensuring transparency of information.
- Webcast and Replay: The conference call will be available via live webcast on the company's investor relations page, with a replay starting February 20, 2026, at 5:00 PM ET, accessible for one year, allowing investors who missed the live event to catch up on key insights.
- Company Overview: Extra Space Storage is the largest operator of self-storage properties in the U.S., owning and operating 4,238 self-storage stores as of September 30, 2025, offering approximately 326.9 million square feet of rentable space, highlighting its market leadership.
See More
Goldman Sachs Sees Limited Demand Catalysts for Public Storage in 2026, Market Performance Impacting Earnings
- Demand Outlook: Goldman Sachs anticipates limited demand catalysts for Public Storage in 2026, indicating that the market environment may pose challenges to the company's future revenue growth, particularly amid an economic slowdown.
- Earnings Impact Assessment: Market performance has a significant impact on Public Storage's profitability, and if demand fails to recover, it could lead to a decline in earnings, thereby affecting shareholder returns.
- Market Environment Monitoring: Goldman Sachs' analysis underscores the importance of closely monitoring market dynamics, especially in the context of weak demand, as companies need to adopt strategies to mitigate potential earnings pressure.
- Investor Confidence Challenge: Given the pessimistic outlook on future demand, investors may reassess their investment strategies regarding Public Storage, potentially impacting its stock performance and overall market confidence.
See More
Goldman Sachs Cuts Public Storage Price Target to $321, Maintains Buy Rating
- Market Impact: Analyst Caitlin Burrows from Goldman Sachs indicated that same-store revenue growth for 2026 could range from -1.0% to +1.2%, highlighting the significant impact of portfolio footprint and market performance on earnings.
- Geographic Analysis: The analyst noted that the performance in Los Angeles could significantly affect Public Storage's profitability if wildfire pricing restrictions are lifted, emphasizing the strategic importance of geographic location.
- Competitive Advantage: Public Storage (PSA) is outperforming rival Extra Space Storage (EXR) in overlapping markets, demonstrating the company's execution strength and strategic advantages in the sector.
- Stock Price Dynamics: As of Thursday, PSA shares rose by 0.80% to $290.07, reflecting a positive market sentiment towards the company's outlook.
See More
Extra Space Storage (EXR) Receives Overweight Rating with $151 Price Target
- Rating Analysis: Extra Space Storage (EXR) has received an overweight rating, indicating analysts' optimistic outlook on its future performance, with a projected price target of $151 reflecting market recognition of its growth potential.
- Market Expectations: This price target is based on the company's robust performance in the self-storage industry and ongoing demand growth, which may attract more investor attention and enhance its market value.
- Investor Confidence: The positive rating from analysts could bolster investor confidence in EXR, promoting capital inflow and further driving up the stock price, thereby enhancing the company's competitiveness in the industry.
- Future Outlook: As demand for self-storage continues to grow, EXR's price target and rating may support the company's future expansion and investment decisions, aiding its long-term development strategy.
See More
