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Extra Space Storage (EXR) Stock Sinks As Market Gains: What You Should Know
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Extra Space Storage (EXR - Free Report) closed at $212.61 in the latest trading session, marking a -0.11% move from the prior day. This change lagged the S&P 500's 1.12% gain on the day. Elsewhere, the Dow gained 1.01%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the self-storage facility real estate investment trust had gained 12.21% in the past month. In that same time, the Finance sector gained 2.46%, while the S&P 500 gained 4.63%.
Investors will be hoping for strength from Extra Space Storage as it approaches its next earnings release, which is expected to be May 3, 2022. In that report, analysts expect Extra Space Storage to post earnings of $1.86 per share. This would mark year-over-year growth of 24%. Meanwhile, our latest consensus estimate is calling for revenue of $430.53 million, up 19.97% from the prior-year quarter.
EXR's full-year Zacks Consensus Estimates are calling for earnings of $7.92 per share and revenue of $1.8 billion. These results would represent year-over-year changes of +14.62% and +14.28%, respectively.
Investors should also note any recent changes to analyst estimates for Extra Space Storage. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% higher. Extra Space Storage is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Extra Space Storage is holding a Forward P/E ratio of 26.88. For comparison, its industry has an average Forward P/E of 15.01, which means Extra Space Storage is trading at a premium to the group.
Also, we should mention that EXR has a PEG ratio of 3.71. 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 industry currently had an average PEG ratio of 2.87 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 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Stock Sinks As Market Gains: What You Should Know
Extra Space Storage (EXR - Free Report) closed at $212.61 in the latest trading session, marking a -0.11% move from the prior day. This change lagged the S&P 500's 1.12% gain on the day. Elsewhere, the Dow gained 1.01%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the self-storage facility real estate investment trust had gained 12.21% in the past month. In that same time, the Finance sector gained 2.46%, while the S&P 500 gained 4.63%.
Investors will be hoping for strength from Extra Space Storage as it approaches its next earnings release, which is expected to be May 3, 2022. In that report, analysts expect Extra Space Storage to post earnings of $1.86 per share. This would mark year-over-year growth of 24%. Meanwhile, our latest consensus estimate is calling for revenue of $430.53 million, up 19.97% from the prior-year quarter.
EXR's full-year Zacks Consensus Estimates are calling for earnings of $7.92 per share and revenue of $1.8 billion. These results would represent year-over-year changes of +14.62% and +14.28%, respectively.
Investors should also note any recent changes to analyst estimates for Extra Space Storage. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.06% higher. Extra Space Storage is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Extra Space Storage is holding a Forward P/E ratio of 26.88. For comparison, its industry has an average Forward P/E of 15.01, which means Extra Space Storage is trading at a premium to the group.
Also, we should mention that EXR has a PEG ratio of 3.71. 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 industry currently had an average PEG ratio of 2.87 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 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.