Today Extra Space Storage (EXR) Hits New Lifetime High
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.
Trade-Ideas LLC identified
(
) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Extra Space Storage as such a stock due to the following factors:
- EXR has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $57.7 million.
- EXR has traded 29,273 shares today.
- EXR is trading at a new lifetime high.
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More details on EXR:
Extra Space Storage, Inc. operates as a real estate investment trust (REIT) in the United States. It engages in property management and development activities that include acquiring, managing, developing, and selling, as well as the rental of self-storage facilities. The stock currently has a dividend yield of 2.8%. EXR has a PE ratio of 43.5. Currently there are 4 analysts that rate Extra Space Storage a buy, no analysts rate it a sell, and 4 rate it a hold.
The average volume for Extra Space Storage has been 803,700 shares per day over the past 30 days. Extra Space has a market cap of $7.7 billion and is part of the financial sector and real estate industry. The stock has a beta of 0.35 and a short float of 3.4% with 3.92 days to cover. Shares are up 14.1% year-to-date as of the close of trading on Thursday.
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Analysis:
rates Extra Space Storage as a
. The company's strengths can be seen in multiple areas, such as its solid stock price performance, good cash flow from operations, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
Highlights from the ratings report include:
- Compared to its closing price of one year ago, EXR's share price has jumped by 40.75%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, EXR should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
- EXTRA SPACE STORAGE INC's earnings per share declined by 40.9% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, EXTRA SPACE STORAGE INC increased its bottom line by earning $1.54 versus $1.51 in the prior year. This year, the market expects an improvement in earnings ($1.88 versus $1.54).
- Net operating cash flow has increased to $81.02 million or 11.47% when compared to the same quarter last year. Despite an increase in cash flow, EXTRA SPACE STORAGE INC's average is still marginally south of the industry average growth rate of 11.97%.
- 43.33% is the gross profit margin for EXTRA SPACE STORAGE INC which we consider to be strong. Despite the high profit margin, it has decreased significantly from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 26.23% trails the industry average.
- EXR, with its decline in revenue, underperformed when compared the industry average of 10.1%. Since the same quarter one year prior, revenues slightly dropped by 9.3%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
- You can view the full Extra Space Storage Ratings Report.
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