Extra Space Storage Inc (EXR)vsInnovative Industrial Properties Inc (IIPR)
EXR
Extra Space Storage Inc
$129.99
+0.15%
REAL ESTATE · Cap: $28.76B
IIPR
Innovative Industrial Properties Inc
$52.35
-0.38%
REAL ESTATE · Cap: $1.47B
Smart Verdict
WallStSmart Research — data-driven comparison
Extra Space Storage Inc generates 1196% more annual revenue ($3.45B vs $265.95M). IIPR leads profitability with a 44.5% profit margin vs 28.3%. IIPR trades at a lower P/E of 13.3x. EXR earns a higher WallStSmart Score of 57/100 (C).
EXR
Buy57
out of 100
Grade: C
IIPR
Buy52
out of 100
Grade: C-
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+3.2%
Fair Value
$147.25
Current Price
$129.99
$17.26 discount
Margin of Safety
-75.6%
Fair Value
$26.72
Current Price
$52.35
$25.63 premium
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Strong operational efficiency at 44.5%
Keeps 28 of every $100 in revenue as profit
Reasonable price relative to book value
Reasonable price relative to book value
Keeps 45 of every $100 in revenue as profit
Strong operational efficiency at 51.3%
Attractively priced relative to earnings
Areas to Watch
Moderate valuation
4.6% revenue growth
ROE of 7.0% — below average capital efficiency
Elevated debt levels
Smaller company, higher risk/reward
ROE of 6.3% — below average capital efficiency
Revenue declined 13.1%
Earnings declined 22.1%
Comparative Analysis Report
WallStSmart ResearchBull Case : EXR
The strongest argument for EXR centers on Operating Margin, Profit Margin, Price/Book. Profitability is solid with margins at 28.3% and operating margin at 44.5%.
Bull Case : IIPR
The strongest argument for IIPR centers on Price/Book, Profit Margin, Operating Margin. Profitability is solid with margins at 44.5% and operating margin at 51.3%.
Bear Case : EXR
The primary concerns for EXR are P/E Ratio, Revenue Growth, Return on Equity.
Bear Case : IIPR
The primary concerns for IIPR are Market Cap, Return on Equity, Revenue Growth.
Key Dynamics to Monitor
EXR profiles as a value stock while IIPR is a declining play — different risk/reward profiles.
IIPR carries more volatility with a beta of 1.50 — expect wider price swings.
EXR is growing revenue faster at 4.6% — sustainability is the question.
EXR generates stronger free cash flow (362M), providing more financial flexibility.
Bottom Line
EXR scores higher overall (57/100 vs 52/100), backed by strong 28.3% margins. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
Extra Space Storage Inc
REAL ESTATE · REIT - INDUSTRIAL · USA
Extra Space Storage is a real estate investment trust headquartered in Cottonwood Heights, Utah that invests in self storage units.
Visit Website →Innovative Industrial Properties Inc
REAL ESTATE · REIT - INDUSTRIAL · USA
Innovative Industrial Properties, Inc. is a self-advising Maryland corporation focused on acquiring, owning, and managing specialty properties leased to experienced state-licensed operators for their regulated medical cannabis facilities.
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