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Extra Space Storage (EXR) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Extra Space Storage (EXR - Free Report) closed at $190.34, marking a -1.4% move from the previous day. This move lagged the S&P 500's daily loss of 0.54%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the self-storage facility real estate investment trust had lost 14.36% over the past month. This has lagged the Finance sector's loss of 1.79% and the S&P 500's loss of 7.87% in that time.
Extra Space Storage will be looking to display strength as it nears its next earnings release, which is expected to be February 23, 2022. The company is expected to report EPS of $1.85, up 25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $431.07 million, up 21.95% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Extra Space Storage. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% higher. Extra Space Storage is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Extra Space Storage has a Forward P/E ratio of 25.1 right now. This represents a premium compared to its industry's average Forward P/E of 14.42.
Meanwhile, EXR's PEG ratio is currently 2.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.52 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Extra Space Storage (EXR) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Extra Space Storage (EXR - Free Report) closed at $190.34, marking a -1.4% move from the previous day. This move lagged the S&P 500's daily loss of 0.54%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the self-storage facility real estate investment trust had lost 14.36% over the past month. This has lagged the Finance sector's loss of 1.79% and the S&P 500's loss of 7.87% in that time.
Extra Space Storage will be looking to display strength as it nears its next earnings release, which is expected to be February 23, 2022. The company is expected to report EPS of $1.85, up 25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $431.07 million, up 21.95% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Extra Space Storage. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.16% higher. Extra Space Storage is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Extra Space Storage has a Forward P/E ratio of 25.1 right now. This represents a premium compared to its industry's average Forward P/E of 14.42.
Meanwhile, EXR's PEG ratio is currently 2.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The REIT and Equity Trust - Other was holding an average PEG ratio of 2.52 at yesterday's closing price.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.