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

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In the latest trading session, Extra Space Storage (EXR - Free Report) closed at $200.04, marking a -0.9% move from the previous day. This change lagged the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 0.71%, while the tech-heavy Nasdaq added 0.18%.

Heading into today, shares of the self-storage facility real estate investment trust had lost 4.77% over the past month, lagging the Finance sector's loss of 0.38% and the S&P 500's loss of 1.14% in that time.

Investors will be hoping for strength from Extra Space Storage as it approaches its next earnings release. The company is expected to report EPS of $2.17, up 17.3% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $486.65 million, up 17.98% from the prior-year quarter.

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.

Investors might also notice recent changes to analyst estimates for Extra Space Storage. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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.

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. Within the past 30 days, our consensus EPS projection has moved 1.01% higher. Extra Space Storage currently has a Zacks Rank of #2 (Buy).

In terms of valuation, Extra Space Storage is currently trading at a Forward P/E ratio of 23.87. This represents a premium compared to its industry's average Forward P/E of 13.07.

Also, we should mention that EXR has a PEG ratio of 2.75. 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. EXR's industry had an average PEG ratio of 2.28 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 73, putting it in the top 29% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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