The stock of Extra Space Storage Inc. (NYSE:EXR) decreased by -$1.23 on Tuesday to finish at $128.94, down -0.94 percent. The last five days have seen an average of 2,131,200 shares of common stock traded. 11 times new highs were reached in the current year, with a fall of -$18.24. The average number of shares traded over the last 20 days was 3,306,890, while the average volume over the last 50 days totaled 2,085,094.
EXR stock dropped -17.57% since last month. On 08/04/23, the company’s shares reached a one-month low of $123.67. The stock touched a high of $216.52 on 03/03/23, after rallying from a low of $123.67 in 52 weeks. The price of EXR stock has declined by -12.39% or -$18.24 this year, reaching a new high 11 times. Still, the stock price is down -40.45% from the 52-week high.
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Insider Transactions
EXR stock investors should be aware that Extra Space Storage Inc. (EXR) stock had its last reported insider trading activity 134 days ago on Apr 04. On Apr 04, Chief Executive Officer Margolis Joseph D sold 5,000 shares at $160.07 each. This transaction resulted in the insider making $800,350. On Mar 08, Herrington Matthew T sold 650 shares at a price of US$165.75. After the transaction, the insider now owns 6,405 shares. EVP/Chief Legal Officer McNeal Gwyn Goodson had earlier sold 1,500 shares on Mar 02 for $164.00 a share. The transaction was completed for $246,000.
Valuation Metrics
Extra Space Storage Inc. (EXR) has a trailing price-to-earnings (P/E) ratio of 21.07. Beta for the stock is 0.57. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 13.37, the price-to-book (PB) ratio of 5.34, and the price-to-cash flow ratio of 171.53.
Company paid $1.01 per share in dividends, a decrease of -37.65% from $1.62 last year. A $0.61 dividend decrease was reported on Monday July 3 2023.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 2.30, and the total debt to equity ratio is 2.30. As far as profitability goes, gross margin for the trailing twelve months is 75.40% percent. Extra Space Storage Inc.’s operating margin stood at 53.30% for the same period. Based on annual data, it had gross profit of $1.05 billion and revenue of $1.92 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. EXR’s return on assets (ROA) during the last 12 months has been 6.80%. There was a 9.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 25.30%.
Earnings Surprise
According to Extra Space Storage Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $511.39 million, while revenues rose by 7.12% to $503.05 million. It was predicted that Extra Space Storage Inc.’s quarterly earnings would be $1.5, but it ended up being $1.51, beating the consensus by -0.70%. EBITDA was $355.29 million for the quarter. At the end of Extra Space Storage Inc.’s most recent quarter ended June 29, its total debt was $7.72 billion. Equity owned by shareholders amounts to $211.28 million.
Technical Picture
Here’s a quick look at Extra Space Storage Inc.’s (EXR) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 32.22%, suggesting the stock is Neutral, with a 58.35% historical volatility rate.
The stochastic %K and %D were 27.12% and 27.27% respectively, while the average true range (ATR) was 3.71. Based on the 14-day stochastic reading of 23.64%, the RSI (14) reading is 33.29%. On the 9-day MACD Oscillator, the stock is at -0.53, and the 14-day reading is at -3.67.
Analyst Ratings
In its most recent analyst report, Evercore ISI raised its rating on Extra Space Storage Inc. (NYSE: EXR) to an Outperform. Prior to this, analysts firm rated the stock as an Underperform. Analysts have assigned Extra Space Storage Inc. (EXR) an Overweight rating. EXR is a stock that is recommended for selling by 1 brokerage firm, while 8 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 5 others recommend it as a buy.
What is EXR’s price target for the next 12 months?
The current consensus forecast for the stock is between $135.00 and $185.00, with a median target price of $161.50. In analyzing these forecasts, the average price target given by analysts for Extra Space Storage Inc. (EXR) is $161.08.
