Heavy Early Morning Activity On Extra Space Storage (EXR)

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 pre-market mover with heavy volume 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 $37.2 million.
  • EXR traded 93,495 shares today in the pre-market hours as of 8:36 AM, representing 11.4% of its average daily volume.

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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 39.0. 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 699,000 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 3.09 days to cover. Shares are up 26.4% 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 solid stock price performance, revenue growth, 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 33.34%, 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.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 8.8%. Since the same quarter one year prior, revenues slightly increased by 7.8%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • EXTRA SPACE STORAGE INC's earnings per share declined by 29.7% 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 $1.13 versus $0.54 in the prior year. This year, the market expects an improvement in earnings ($1.19 versus $1.13).
  • 44.14% is the gross profit margin for EXTRA SPACE STORAGE INC which we consider to be strong. 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, the net profit margin of 21.20% trails the industry average.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. When compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market, EXTRA SPACE STORAGE INC's return on equity is below that of both the industry average and the S&P 500.

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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