Extra Space Storage Inc. (NYSE:EXR) finished Friday with an addition of $0.47 to close at $127.93, an upside of 0.37 percent. An average of 1,607,060 shares of common stock have been traded in the last five days. There was a gain of $1.07 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 2,235,940 shares traded, while the 50-day average volume stands at 2,187,574.
EXR stock has decreased by -9.90% in the last month. The company shares reached their 1-month lowest point of $123.67 on 08/04/23. With the stock rallying to its 52-week high on 03/03/23, shares of the company touched a low of $123.67 and a high of $211.59 in 52 weeks. It has reached a new high 11 times so far this year and lost -13.08% or -$19.25 in price. In spite of this, the price is down -39.54% 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 144 days ago on Apr 04. In this transaction, the insider spent $800,350. EVP & COO, Herrington Matthew T, disposed of 650 shares at a price of $165.75 on Mar 08. The insider now owns more than $107,738 worth of shares. Prior to that, EVP/Chief Legal Officer McNeal Gwyn Goodson went on to Sale 1,500 shares at $164.00 each on Mar 02. An amount of $246,000 was transacted.
Valuation Metrics
Extra Space Storage Inc. (EXR) has a trailing price-to-earnings (P/E) ratio of 20.90. The stock’s beta is 0.58. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 13.34, the price-to-book (PB) ratio at 5.30, and the price-to-cash flow ratio at 171.15.
The company has a payout ratio of 101.90%. The company’s most recent quarterly dividend payment was $0.61 a share, representing a down of -39.6% from $1.01 last year. Its latest decrease dividend $0.40 reported on Friday August 18 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 2.30 and a total debt to equity ratio of 2.30 for the quarter ending June 29. Its gross profit as reported stood at $1.05 billion compared to revenue of $1.92 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Extra Space Storage Inc.’s return on assets was 6.80%.
Earnings Surprise
For the three-month period that ended June 29, Extra Space Storage Inc. had $5.58 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $202.41 million in the quarter, while revenues of $196.3 million were shrunk -14.68%. The analyst consensus anticipated Extra Space Storage Inc.’s latest quarter earnings to come in at $1.51 per share, but it turned out to be $1.5, a -0.70% surprise. For the quarter, EBITDA amounted to $355.29 million. At the end of the quarter ending June 29, Extra Space Storage Inc.’s stock balance sheet showed total debt was $7.72 billion. Shareholders own equity worth $211.28 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Extra Space Storage Inc. (EXR) price momentum. RSI 9-day as of the close on 25 August was 37.88%, suggesting the stock is Neutral, with historical volatility in this time frame at 60.94%.
As of today, EXR’s price is $127.35 +0.84% or $1.07 from its 5-day moving average. EXR is currently trading -9.17% lower than its 20-day SMA and -17.20% lower than its 100-day SMA. However, the stock’s current price level is -10.74% below the SMA50 and -15.84% below the SMA200.
The stochastic %K and %D were 39.51% and 33.65%, respectively, and the average true range (ATR) was 2.72. With the 14-day stochastic at 39.58% and the average true range at 3.04, the RSI (14) stands at 36.02%. The stock has reached 0.19 on the 9-day MACD Oscillator while the 14-day reading was at -0.72.
Analyst Ratings
Evercore ISI upgraded Extra Space Storage Inc. (NYSE: EXR) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as an Underperform. The consensus rating for Extra Space Storage Inc. (EXR) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell EXR, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.
What is EXR’s price target for the next 12 months?
Analysts predict a range of price targets between $135.00 and $185.00, with a median target of $161.50. Taking a look at these predictions, the average price target given by analysts for Extra Space Storage Inc. (EXR) stock is $161.08.
