Extra Space Storage (EXR) Reaches New Lifetime High Today

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 or Stephanie Link.

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 $36.9 million.
  • EXR has traded 418,653 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 3.5%. EXR has a PE ratio of 35.2. Currently there are 7 analysts that rate Extra Space Storage a buy, 1 analyst rates it a sell, and 3 rate it a hold.

The average volume for Extra Space Storage has been 710,300 shares per day over the past 30 days. Extra Space has a market cap of $5.1 billion and is part of the financial sector and real estate industry. The stock has a beta of 1.20 and a short float of 2.8% with 3.34 days to cover. Shares are up 25.7% year to date as of the close of trading on Friday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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 robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

Highlights from the ratings report include:
  • The revenue growth came in higher than the industry average of 10.7%. Since the same quarter one year prior, revenues rose by 31.4%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • Powered by its strong earnings growth of 40.90% and other important driving factors, this stock has surged by 43.39% 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 40.9% 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 $1.13 versus $0.54 in the prior year. This year, the market expects an improvement in earnings ($1.20 versus $1.13).
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Real Estate Investment Trusts (REITs) industry average. The net income increased by 53.8% when compared to the same quarter one year prior, rising from $22.41 million to $34.47 million.
  • Net operating cash flow has increased to $75.44 million or 45.54% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 6.41%.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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