EXR
Extra Space Storage Inc.
REIT - Industrial
Market Cap$29.52B
5Y Perf.+44.5%
Compare Stocks
2 / 10Try these comparisons:
Stock Comparison
EXR vs NSA
Revenue, margins, valuation, and 5-year total return — side by side.
NSA
National Storage Affiliates Trust
REIT - Industrial
Market Cap$3.23B
5Y Perf.+39.6%
EXR vs NSA — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | EXR | NSA |
|---|---|---|
| Industry | REIT - Industrial | REIT - Industrial |
| Market Cap | $29.52B | $3.23B |
| Revenue (TTM) | $3.38B | $750M |
| Net Income (TTM) | $974M | $89M |
| Gross Margin | 28.4% | 28.4% |
| Operating Margin | 44.1% | 28.2% |
| Forward P/E | 30.1x | 79.6x |
| Total Debt | $14.97B | $3.43B |
| Cash & Equiv. | $139M | $24M |
EXR vs NSA — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
EXR
NSA
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Extra Space Storage… (EXR) | 100 | 144.5 | +44.5% |
| National Storage Af… (NSA) | 100 | 139.6 | +39.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: EXR vs NSA
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: EXR leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. National Storage Affiliates Trust is the stronger pick specifically for dividend income and shareholder returns and recent price momentum and sentiment. As sector peers, any of these can serve as alternatives in the same allocation.
EXR
Extra Space Storage Inc.
The Real Estate Income Play
EXR carries the broadest edge in this set and is the clearest fit for growth exposure and sleep-well-at-night.
- Rev growth 1.2%, EPS growth 13.9%, 3Y rev CAGR 19.8%
- Lower volatility, beta 0.52, current ratio 1.28x
- PEG 6.91 vs NSA's 13.91
Best for: growth exposure and sleep-well-at-night
NSA
National Storage Affiliates Trust
The Real Estate Income Play
NSA is the clearest fit if your priority is income & stability and long-term compounding.
- Dividend streak 2 yrs, beta 0.81, yield 5.4%
- 178.4% 10Y total return vs EXR's 106.5%
- 5.4% yield, 2-year raise streak, vs EXR's 4.6%
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | EXR | 1.2% FFO/revenue growth vs NSA's -2.3% |
| Value | EXR | Lower P/E (30.1x vs 79.6x), PEG 6.91 vs 13.91 |
| Quality / Margins | EXR | 28.8% margin vs NSA's 11.9% |
| Stability / Safety | EXR | Beta 0.52 vs NSA's 0.81, lower leverage |
| Dividends | NSA | 5.4% yield, 2-year raise streak, vs EXR's 4.6% |
| Momentum (1Y) | NSA | +16.9% vs EXR's -2.1% |
| Efficiency (ROA) | EXR | 3.3% ROA vs NSA's 1.8%, ROIC 3.9% vs 4.1% |
EXR vs NSA — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
EXR vs NSA — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLEXRLAGGINGNSA
NSANational Storage Affi…
2leads
EXRExtra Space Storage I…
2leads
6 Total Categories
CATEGORYLEADERvs NSAMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
EXR5/6
Valuation MetricsMultiples, price ratios, and targets
EXR4/7
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
Tied
—
Total Returns1Y, 3Y, 5Y total returns with dividends
NSA5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
NSA2/2
Income & Cash Flow (Last 12 Months)
EXR leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
EXR is the larger business by revenue, generating $3.4B annually — 4.5x NSA's $750M. EXR is the more profitable business, keeping 28.8% of every revenue dollar as net income compared to NSA's 11.9%. On growth, EXR holds the edge at +9.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | EXRExtra Space Stora… | NSANational Storage … |
|---|---|---|
| RevenueTrailing 12 months | $3.4B | $750M |
| EBITDAEarnings before interest/tax | $2.2B | $387M |
| Net IncomeAfter-tax profit | $974M | $89M |
| Free Cash FlowCash after capex | $1.8B | $297M |
| Gross MarginGross profit ÷ Revenue | +28.4% | +28.4% |
| Operating MarginEBIT ÷ Revenue | +44.1% | +28.2% |
| Net MarginNet income ÷ Revenue | +28.8% | +11.9% |
| FCF MarginFCF ÷ Revenue | +54.6% | +39.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.3% | -1.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +4.8% | +60.0% |
EXR leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
EXR leads this category, winning 4 of 7 comparable metrics.
Valuation Metrics
At 30.5x trailing earnings, EXR trades at a 49% valuation discount to NSA's 59.9x P/E. Adjusting for growth (PEG ratio), EXR offers better value at 7.00x vs NSA's 10.46x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | EXRExtra Space Stora… | NSANational Storage … |
|---|---|---|
| Market CapShares × price | $29.5B | $3.2B |
| Enterprise ValueMkt cap + debt − cash | $44.4B | $6.6B |
| Trailing P/EPrice ÷ TTM EPS | 30.46x | 59.85x |
| Forward P/EPrice ÷ next-FY EPS est. | 30.07x | 79.62x |
| PEG RatioP/E ÷ EPS growth rate | 7.00x | 10.46x |
| EV / EBITDAEnterprise value multiple | 20.12x | 14.18x |
| Price / SalesMarket cap ÷ Revenue | 8.74x | 4.29x |
| Price / BookPrice ÷ Book value/share | 2.07x | 2.09x |
| Price / FCFMarket cap ÷ FCF | 16.14x | 10.78x |
EXR leads this category, winning 4 of 7 comparable metrics.
Profitability & Efficiency
Evenly matched — EXR and NSA each lead in 4 of 8 comparable metrics.
Profitability & Efficiency
EXR delivers a 6.7% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $6 for NSA. EXR carries lower financial leverage with a 1.05x debt-to-equity ratio, signaling a more conservative balance sheet compared to NSA's 2.23x.
| Metric | EXRExtra Space Stora… | NSANational Storage … |
|---|---|---|
| ROE (TTM)Return on equity | +6.7% | +5.7% |
| ROA (TTM)Return on assets | +3.3% | +1.8% |
| ROICReturn on invested capital | +3.9% | +4.1% |
| ROCEReturn on capital employed | +5.4% | +5.9% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 1.05x | 2.23x |
| Net DebtTotal debt minus cash | $14.8B | $3.4B |
| Cash & Equiv.Liquid assets | $139M | $24M |
| Total DebtShort + long-term debt | $15.0B | $3.4B |
| Interest CoverageEBIT ÷ Interest expense | 2.68x | 1.73x |
Evenly matched — EXR and NSA each lead in 4 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
NSA leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in EXR five years ago would be worth $11,680 today (with dividends reinvested), compared to $11,638 for NSA. Over the past 12 months, NSA leads with a +16.9% total return vs EXR's -2.1%. The 3-year compound annual growth rate (CAGR) favors NSA at 8.6% vs EXR's 1.0% — a key indicator of consistent wealth creation.
| Metric | EXRExtra Space Stora… | NSANational Storage … |
|---|---|---|
| YTD ReturnYear-to-date | +8.0% | +52.3% |
| 1-Year ReturnPast 12 months | -2.1% | +16.9% |
| 3-Year ReturnCumulative with dividends | +2.9% | +28.2% |
| 5-Year ReturnCumulative with dividends | +16.8% | +16.4% |
| 10-Year ReturnCumulative with dividends | +106.5% | +178.4% |
| CAGR (3Y)Annualised 3-year return | +1.0% | +8.6% |
NSA leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — EXR and NSA each lead in 1 of 2 comparable metrics.
Risk & Volatility
EXR is the less volatile stock with a 0.52 beta — it tends to amplify market swings less than NSA's 0.81 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. NSA currently trades 95.2% from its 52-week high vs EXR's 90.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | EXRExtra Space Stora… | NSANational Storage … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.52x | 0.81x |
| 52-Week HighHighest price in past year | $155.19 | $44.02 |
| 52-Week LowLowest price in past year | $125.71 | $27.43 |
| % of 52W HighCurrent price vs 52-week peak | +90.1% | +95.2% |
| RSI (14)Momentum oscillator 0–100 | 48.0 | 53.7 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 1.8M |
Evenly matched — EXR and NSA each lead in 1 of 2 comparable metrics.
Analyst Outlook
NSA leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Wall Street rates EXR as "Hold" and NSA as "Hold". Consensus price targets imply 6.7% upside for EXR (target: $149) vs -20.4% for NSA (target: $33). For income investors, NSA offers the higher dividend yield at 5.45% vs EXR's 4.64%.
| Metric | EXRExtra Space Stora… | NSANational Storage … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $149.13 | $33.33 |
| # AnalystsCovering analysts | 28 | 19 |
| Dividend YieldAnnual dividend ÷ price | +4.6% | +5.4% |
| Dividend StreakConsecutive years of raises | 0 | 2 |
| Dividend / ShareAnnual DPS | $6.49 | $2.28 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.5% | 0.0% |
NSA leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
EXR leads in 2 of 6 categories (Income & Cash Flow, Valuation Metrics). NSA leads in 2 (Total Returns, Analyst Outlook). 2 tied.
Best OverallExtra Space Storage Inc. (EXR)Leads 2 of 6 categories
Loading custom metrics...
EXR vs NSA: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is EXR or NSA a better buy right now?
For growth investors, Extra Space Storage Inc.
(EXR) is the stronger pick with 1. 2% revenue growth year-over-year, versus -2. 3% for National Storage Affiliates Trust (NSA). Extra Space Storage Inc. (EXR) offers the better valuation at 30. 5x trailing P/E (30. 1x forward), making it the more compelling value choice. Analysts rate Extra Space Storage Inc. (EXR) a "Hold" — based on 28 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — EXR or NSA?
On trailing P/E, Extra Space Storage Inc.
(EXR) is the cheapest at 30. 5x versus National Storage Affiliates Trust at 59. 9x. On forward P/E, Extra Space Storage Inc. is actually cheaper at 30. 1x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Extra Space Storage Inc. wins at 6. 91x versus National Storage Affiliates Trust's 13. 91x.
03Which is the better long-term investment — EXR or NSA?
Over the past 5 years, Extra Space Storage Inc.
(EXR) delivered a total return of +16. 8%, compared to +16. 4% for National Storage Affiliates Trust (NSA). Over 10 years, the gap is even starker: NSA returned +178. 4% versus EXR's +106. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — EXR or NSA?
By beta (market sensitivity over 5 years), Extra Space Storage Inc.
(EXR) is the lower-risk stock at 0. 52β versus National Storage Affiliates Trust's 0. 81β — meaning NSA is approximately 57% more volatile than EXR relative to the S&P 500. On balance sheet safety, Extra Space Storage Inc. (EXR) carries a lower debt/equity ratio of 105% versus 2% for National Storage Affiliates Trust — giving it more financial flexibility in a downturn.
05Which is growing faster — EXR or NSA?
By revenue growth (latest reported year), Extra Space Storage Inc.
(EXR) is pulling ahead at 1. 2% versus -2. 3% for National Storage Affiliates Trust (NSA). On earnings-per-share growth, the picture is similar: Extra Space Storage Inc. grew EPS 13. 9% year-over-year, compared to -40. 7% for National Storage Affiliates Trust. Over a 3-year CAGR, EXR leads at 19. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — EXR or NSA?
Extra Space Storage Inc.
(EXR) is the more profitable company, earning 28. 8% net margin versus 9. 8% for National Storage Affiliates Trust — meaning it keeps 28. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EXR leads at 44. 1% versus 37. 0% for NSA. At the gross margin level — before operating expenses — NSA leads at 46. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is EXR or NSA more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Extra Space Storage Inc. (EXR) is the more undervalued stock at a PEG of 6. 91x versus National Storage Affiliates Trust's 13. 91x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Extra Space Storage Inc. (EXR) trades at 30. 1x forward P/E versus 79. 6x for National Storage Affiliates Trust — 49. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for EXR: 6. 7% to $149. 13.
08Which pays a better dividend — EXR or NSA?
All stocks in this comparison pay dividends.
National Storage Affiliates Trust (NSA) offers the highest yield at 5. 4%, versus 4. 6% for Extra Space Storage Inc. (EXR).
09Is EXR or NSA better for a retirement portfolio?
For long-horizon retirement investors, Extra Space Storage Inc.
(EXR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 52), 4. 6% yield, +106. 5% 10Y return). Both have compounded well over 10 years (EXR: +106. 5%, NSA: +178. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between EXR and NSA?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
Find Stocks Like These
Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that outperform both.
Revenue Growth>
%
(EXR: 9.3% · NSA: -1.6%)Net Margin>
%
(EXR: 28.8% · NSA: 11.9%)P/E Ratio<
x
(EXR: 30.5x · NSA: 59.9x)You Might Also Compare
Based on how these companies actually compete and overlap — not just which sector they're filed under.