Extra Space Storage (EXR) Soars 4.65% on Leadership Change

Extra Space Storage (EXR) rose 0.55% today, marking its third consecutive day of gains, with a total increase of 4.65% over the past three days. The share price reached its highest level since March 2025, despite an intraday decline of NaN%.

The strategy of buying EXR shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, but underperformed the market. The annualized return was 12.68%, compared to the S&P 500's 14.84%. The maximum drawdown of -9.08% during the 2020 COVID-19 pandemic highlighted the strategy's vulnerability in market downturns. However, the strategy showed resilience in recovering from this drawdown, with a subsequent recovery period of 6.08 months. Overall, while the strategy provided decent returns, it may not be the most robust approach in volatile markets.

On May 19, 2025, Extra Space Storage announced a significant change in its executive leadership. Scott Stubbs, the current Chief Financial Officer, will retire effective December 31, 2025. Jeff Norman, the Senior Vice President of Capital Markets and Treasury, will take over as the new CFO starting July 1, 2025. This transition in leadership is expected to influence investor sentiment and potentially impact the stock price of Extra Space Storage (EXR).