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    Extra Space Storage (EXR) Names Its Next CEO, Is The Stock 13% Undervalued?

    Simply Wall St·09/05/2026 08:23:26
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    Why Extra Space Storage’s CEO succession matters now

    Extra Space Storage (EXR) has set a clear timetable for its next leadership chapter, with President Noah Springer slated to succeed CEO Joe Margolis on January 1, 2027, following a board approved succession plan.

    For investors, the leadership news arrives after a softer period for Extra Space Storage’s share price. It is down 7.19% on a 30 day share price return and 4.17% on a 90 day share price return. However, the year to date share price return is positive at 6.32%, and the three year total shareholder return is 24.78%, suggesting longer term holders have fared better than those focused on recent momentum.

    Spot leadership transitions across the market by comparing Extra Space Storage with our hand picked 19 high quality undiscovered gems that could be flying under most investors' radar.

    After Extra Space Storage’s recent share price slip, the stock trades below both analyst targets and one estimate of intrinsic value. The real tension now is whether that gap reflects opportunity or lingering risk.

    Most Popular Narrative: 12.8% Undervalued

    On the most followed narrative, Extra Space Storage’s fair value of $159.65 sits above the last close of $139.25, which sets up a clear valuation gap for investors to interrogate.

    The increase in ancillary income streams (notably tenant insurance and management fees), combined with a rapidly expanding third-party management platform, leverages growing demand from small businesses and online retailers seeking inventory/commercial storage, boosting fee-based revenue and expanding earnings with minimal incremental capital.

    Read the complete narrative. Read the complete narrative.

    Want to understand why this fair value sits above today’s share price? The story focuses on steadier margins, measured earnings growth and a richer future earnings multiple. If you are curious about which specific revenue and profit assumptions sit underneath that, and how an 8.2% discount rate shapes the outcome, the full narrative lays out every step of that calculation.

    Result: Fair Value of $159.65 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    However, the Extra Space Storage story can change quickly if property tax expenses keep rising faster than revenue or if new supply in key regions pressures pricing.

    Find out about the key risks to this Extra Space Storage narrative.

    Next Steps

    With Extra Space Storage carrying both risks and rewards in investor discussions, it can be useful to move quickly and review the numbers yourself. To see the full balance of concerns and positives in one place, review the 3 key rewards and 1 important warning sign

    Looking for more investment ideas beyond Extra Space Storage?

    If you want more angles than Extra Space Storage alone can offer, the Simply Wall St Screener can surface stocks that better match your goals and risk comfort.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.