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Extra Space Storage (EXR) Stock Sinks As Market Gains: What You Should Know

·3 min read

In the latest trading session, Extra Space Storage (EXR) closed at $182.31, marking a -1.02% move from the previous day. This change lagged the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.18%.

Prior to today's trading, shares of the self-storage facility real estate investment trust had lost 12.97% over the past month. This has lagged the Finance sector's loss of 8.14% and the S&P 500's loss of 9.94% in that time.

Extra Space Storage will be looking to display strength as it nears its next earnings release. In that report, analysts expect Extra Space Storage to post earnings of $2.17 per share. This would mark year-over-year growth of 17.3%. Our most recent consensus estimate is calling for quarterly revenue of $486.65 million, up 17.98% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $8.46 per share and revenue of $1.89 billion, which would represent changes of +22.43% and +19.7%, respectively, from the prior year.

Any recent changes to analyst estimates for Extra Space Storage should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.35% higher. Extra Space Storage is currently sporting a Zacks Rank of #2 (Buy).

Digging into valuation, Extra Space Storage currently has a Forward P/E ratio of 21.78. Its industry sports an average Forward P/E of 12.88, so we one might conclude that Extra Space Storage is trading at a premium comparatively.

We can also see that EXR currently has a PEG ratio of 2.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. EXR's industry had an average PEG ratio of 2.15 as of yesterday's close.

The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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