Comprehensive Stock Comparison
Compare Rexford Industrial Realty, Inc. (REXR) vs Extra Space Storage Inc. (EXR) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | EXR | 27.6% revenue growth vs REXR's 17.4% |
| Value | EXR | Lower P/E (31.7x vs 33.5x) |
| Quality / Margins | REXR | 33.4% net margin vs EXR's 28.9% |
| Stability / Safety | EXR | Beta 0.56 vs REXR's 0.89 |
| Dividends | EXR | 4.3% yield, 15-year raise streak, vs REXR's 0.1% |
| Momentum (1Y) | EXR | +3.2% vs REXR's -5.2% |
| Efficiency (ROA) | EXR | 3.3% ROA vs REXR's 2.6%, ROIC 3.7% vs 4.3% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Rexford Industrial Realty is a real estate investment trust that owns and operates industrial properties — primarily warehouses and distribution facilities — in Southern California's supply-constrained infill markets. It generates revenue through property rentals (nearly 100% of income) with long-term leases to logistics, manufacturing, and e-commerce tenants. The company's moat comes from its concentrated portfolio in high-demand Southern California markets where land scarcity creates significant barriers to new competition.
Extra Space Storage is a real estate investment trust that owns and operates self-storage facilities across the United States. It generates revenue primarily through rental income from storage units — including boat, RV, and business storage — with property management fees contributing additional income. The company benefits from economies of scale as the second-largest self-storage operator in the U.S., leveraging its national brand recognition and sophisticated revenue management systems.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
REXR leads in 3 of 6 categories (Financial Metrics, Valuation Metrics). EXR leads in 3 (Total Returns, Risk & Volatility).
Financial Metrics (TTM)
EXR is the larger business by revenue, generating $3.3B annually — 3.3x REXR's $998M. Profitability is closely matched — net margins range from 33.4% (REXR) to 28.9% (EXR). On growth, REXR holds the edge at +4.7% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | REXRRexford Industria… | EXRExtra Space Stora… |
|---|---|---|
| RevenueTrailing 12 months | $998M | $3.3B |
| EBITDAEarnings before interest/tax | $901M | $2.1B |
| Net IncomeAfter-tax profit | $334M | $953M |
| Free Cash FlowCash after capex | $207M | $1.9B |
| Gross MarginGross profit ÷ Revenue | +77.5% | +67.7% |
| Operating MarginEBIT ÷ Revenue | +61.2% | +43.1% |
| Net MarginNet income ÷ Revenue | +33.4% | +28.9% |
| FCF MarginFCF ÷ Revenue | +20.7% | +57.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +4.7% | -9.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +16.7% | -14.3% |
Valuation Metrics
At 31.2x trailing earnings, REXR trades at a 17% valuation discount to EXR's 37.5x P/E. Adjusting for growth (PEG ratio), REXR offers better value at 1.51x vs EXR's 8.40x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | REXRRexford Industria… | EXRExtra Space Stora… |
|---|---|---|
| Market CapShares × price | $8.7B | $32.1B |
| Enterprise ValueMkt cap + debt − cash | $12.0B | $44.9B |
| Trailing P/EPrice ÷ TTM EPS | 31.23x | 37.48x |
| Forward P/EPrice ÷ next-FY EPS est. | 33.46x | 31.65x |
| PEG RatioP/E ÷ EPS growth rate | 1.51x | 8.40x |
| EV / EBITDAEnterprise value multiple | 13.47x | 21.39x |
| Price / SalesMarket cap ÷ Revenue | 9.32x | 9.60x |
| Price / BookPrice ÷ Book value/share | 0.94x | 2.15x |
| Price / FCFMarket cap ÷ FCF | 82.67x | 17.17x |
Profitability & Efficiency
EXR delivers a 6.6% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $4 for REXR. REXR carries lower financial leverage with a 0.38x debt-to-equity ratio, signaling a more conservative balance sheet compared to EXR's 0.88x. On the Piotroski fundamental quality scale (0–9), REXR scores 6/9 vs EXR's 5/9, reflecting solid financial health.
| Metric | REXRRexford Industria… | EXRExtra Space Stora… |
|---|---|---|
| ROE (TTM)Return on equity | +3.7% | +6.6% |
| ROA (TTM)Return on assets | +2.6% | +3.3% |
| ROICReturn on invested capital | +4.3% | +3.7% |
| ROCEReturn on capital employed | +5.7% | +5.0% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 |
| Debt / EquityFinancial leverage | 0.38x | 0.88x |
| Net DebtTotal debt minus cash | $3.3B | $12.9B |
| Cash & Equiv.Liquid assets | $56M | $138M |
| Total DebtShort + long-term debt | $3.3B | $13.0B |
| Interest CoverageEBIT ÷ Interest expense | 6.53x | 2.22x |
Total Returns (with DRIP)
A $10,000 investment in EXR five years ago would be worth $14,619 today (with dividends reinvested), compared to $9,265 for REXR. Over the past 12 months, EXR leads with a +3.2% total return vs REXR's -5.2%. The 3-year compound annual growth rate (CAGR) favors EXR at 1.2% vs REXR's -11.2% — a key indicator of consistent wealth creation.
| Metric | REXRRexford Industria… | EXRExtra Space Stora… |
|---|---|---|
| YTD ReturnYear-to-date | -4.0% | +15.3% |
| 1-Year ReturnPast 12 months | -5.2% | +3.2% |
| 3-Year ReturnCumulative with dividends | -29.9% | +3.5% |
| 5-Year ReturnCumulative with dividends | -7.4% | +46.2% |
| 10-Year ReturnCumulative with dividends | +184.6% | +140.5% |
| CAGR (3Y)Annualised 3-year return | -11.2% | +1.2% |
Risk & Volatility
EXR is the less volatile stock with a 0.56 beta — it tends to amplify market swings less than REXR's 0.89 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. EXR currently trades 94.1% from its 52-week high vs REXR's 84.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | REXRRexford Industria… | EXRExtra Space Stora… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.89x | 0.56x |
| 52-Week HighHighest price in past year | $44.38 | $160.58 |
| 52-Week LowLowest price in past year | $29.68 | $121.03 |
| % of 52W HighCurrent price vs 52-week peak | +84.4% | +94.1% |
| RSI (14)Momentum oscillator 0–100 | 45.2 | 58.2 |
| Avg Volume (50D)Average daily shares traded | 2.1M | 1.1M |
Analyst Outlook
Wall Street rates REXR as "Hold" and EXR as "Hold". Consensus price targets imply 14.2% upside for REXR (target: $43) vs -0.7% for EXR (target: $150). For income investors, EXR offers the higher dividend yield at 4.30% vs REXR's 0.11%.
| Metric | REXRRexford Industria… | EXRExtra Space Stora… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $42.80 | $150.00 |
| # AnalystsCovering analysts | 21 | 28 |
| Dividend YieldAnnual dividend ÷ price | +0.1% | +4.3% |
| Dividend StreakConsecutive years of raises | 0 | 15 |
| Dividend / ShareAnnual DPS | $0.04 | $6.50 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Feb 20 | Feb 26 | Change |
|---|---|---|---|
| Rexford Industrial … (REXR) | 100 | 86.14 | -13.9% |
| Extra Space Storage… (EXR) | 100 | 134.72 | +34.7% |
Extra Space Storage… (EXR) returned +46% over 5 years vs Rexford Industrial … (REXR)'s -7%. A $10,000 investment in EXR 5 years ago would be worth $14,619 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Rexford Industrial … (REXR) | $94M | $936M | +897.2% |
| Extra Space Storage… (EXR) | $795M | $3.3B | +320.1% |
Rexford Industrial Realty, Inc.'s revenue grew from $94M (2015) to $936M (2024) — a 29.1% CAGR. Extra Space Storage Inc.'s revenue grew from $795M (2015) to $3.3B (2024) — a 17.3% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Rexford Industrial … (REXR) | 2.0% | 29.2% | +1365.1% |
| Extra Space Storage… (EXR) | 23.8% | 25.6% | +7.4% |
Rexford Industrial Realty, Inc.'s net margin went from 2% (2015) to 29% (2024). Extra Space Storage Inc.'s net margin went from 24% (2015) to 26% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Rexford Industrial … (REXR) | 60.8 | 32.2 | -47.0% |
| Extra Space Storage… (EXR) | 23.3 | 37.1 | +59.2% |
Rexford Industrial Realty, Inc. has traded in a 32x–101x P/E range over 8 years; current trailing P/E is ~31x. Extra Space Storage Inc. has traded in a 23x–37x P/E range over 8 years; current trailing P/E is ~37x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Rexford Industrial … (REXR) | 0.03 | 1.2 | +3900.0% |
| Extra Space Storage… (EXR) | 1.56 | 4.03 | +158.3% |
Rexford Industrial Realty, Inc.'s EPS grew from $0.03 (2015) to $1.20 (2024) — a 51% CAGR. Extra Space Storage Inc.'s EPS grew from $1.56 (2015) to $4.03 (2024) — a 11% CAGR.
Chart 6Free Cash Flow — 5 Years
Rexford Industrial Realty, Inc. generated $106M FCF in 2024 (-18% vs 2021). Extra Space Storage Inc. generated $2B FCF in 2024 (+97% vs 2021).
REXR vs EXR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is REXR or EXR a better buy right now?
Rexford Industrial Realty, Inc. (REXR) offers the better valuation at 31.2x trailing P/E (33.5x forward), making it the more compelling value choice. Analysts rate Rexford Industrial Realty, Inc. (REXR) a "Hold" — based on 21 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 — REXR or EXR?
On trailing P/E, Rexford Industrial Realty, Inc. (REXR) is the cheapest at 31.2x versus Extra Space Storage Inc. at 37.5x. On forward P/E, Extra Space Storage Inc. is actually cheaper at 31.7x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Rexford Industrial Realty, Inc. wins at 1.62x versus Extra Space Storage Inc.'s 7.10x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — REXR or EXR?
Over the past 5 years, Extra Space Storage Inc. (EXR) delivered a total return of +46.2%, compared to -7.4% for Rexford Industrial Realty, Inc. (REXR). A $10,000 investment in EXR five years ago would be worth approximately $15K today (assuming dividends reinvested). Over 10 years, the gap is even starker: REXR returned +184.6% versus EXR's +140.5%. 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 — REXR or EXR?
By beta (market sensitivity over 5 years), Extra Space Storage Inc. (EXR) is the lower-risk stock at 0.56β versus Rexford Industrial Realty, Inc.'s 0.89β — meaning REXR is approximately 60% more volatile than EXR relative to the S&P 500. On balance sheet safety, Rexford Industrial Realty, Inc. (REXR) carries a lower debt/equity ratio of 38% versus 88% for Extra Space Storage Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — REXR or EXR?
Rexford Industrial Realty, Inc. (REXR) is the more profitable company, earning 29.2% net margin versus 25.6% for Extra Space Storage Inc. — meaning it keeps 29.2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: REXR leads at 68.8% versus 39.6% for EXR. At the gross margin level — before operating expenses — REXR leads at 77.5%, 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.
06Is REXR or EXR 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, Rexford Industrial Realty, Inc. (REXR) is the more undervalued stock at a PEG of 1.62x versus Extra Space Storage Inc.'s 7.10x. 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 31.7x forward P/E versus 33.5x for Rexford Industrial Realty, Inc. — 1.8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for REXR: 14.2% to $42.80.
07Which pays a better dividend — REXR or EXR?
All stocks in this comparison pay dividends. Extra Space Storage Inc. (EXR) offers the highest yield at 4.3%, versus 0.1% for Rexford Industrial Realty, Inc. (REXR).
08Is REXR or EXR 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 0.56), 4.3% yield, +140.5% 10Y return). Both have compounded well over 10 years (EXR: +140.5%, REXR: +184.6%), 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.
09What are the main differences between REXR and EXR?
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. In terms of investment character: REXR is a small-cap quality compounder stock; EXR is a mid-cap income-oriented stock. EXR pays a dividend while REXR does not, making them suitable for different income and tax situations. 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.
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