New Lifetime High Reached: Extra Space Storage (EXR) - TheStreet

Trade-Ideas LLC identified

Extra Space Storage

(

EXR

) 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 $73.8 million.
  • EXR has traded 19,226 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 2.9%. EXR has a PE ratio of 46. Currently there are 8 analysts that rate Extra Space Storage a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Extra Space Storage has been 1.1 million shares per day over the past 30 days. Extra Space has a market cap of $9.9 billion and is part of the financial sector and real estate industry. The stock has a beta of 0.17 and a short float of 3% with 3.22 days to cover. Shares are up 38.7% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Extra Space Storage as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and expanding profit margins. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.

Highlights from the ratings report include:

  • EXR's revenue growth has slightly outpaced the industry average of 9.8%. Since the same quarter one year prior, revenues rose by 12.9%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Powered by its strong earnings growth of 30.55% and other important driving factors, this stock has surged by 44.57% over the past year, outperforming the rise in the S&P 500 Index during the same period. 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 has improved earnings per share by 30.6% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. 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 ($1.89 versus $1.54).
  • The company, on the basis of net income growth from the same quarter one year ago, has significantly outperformed against the S&P 500 and exceeded that of the Real Estate Investment Trusts (REITs) industry average. The net income increased by 32.8% when compared to the same quarter one year prior, rising from $41.67 million to $55.34 million.
  • The gross profit margin for EXTRA SPACE STORAGE INC is rather high; currently it is at 56.41%. Regardless of EXR's high profit margin, it has managed to decrease from the same period last year. Despite the mixed results of the gross profit margin, EXR's net profit margin of 29.04% compares favorably to the industry average.

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