The stock price of Extra Space Storage Inc. (NYSE: EXR) has dropped by -6.49 compared to previous close of 152.39. Despite this, the company has seen a fall of -1.76% in its stock price over the last five trading days. Seeking Alpha reported 2024-04-02 that The self-storage sector is oversupplied, resulting in a drop in street rents and a decline in occupancy. Extra Space Storage Inc. is a potential short candidate due to its recent merger at the top of the market and negative growth outlook. The oversupply in the sector is expected to worsen with more supply in the pipeline, leading to increased competition and lower rental rates.
Is It Worth Investing in Extra Space Storage Inc. (NYSE: EXR) Right Now?
The price-to-earnings ratio for Extra Space Storage Inc. (NYSE: EXR) is above average at 29.10x. The 36-month beta value for EXR is also noteworthy at 0.74. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 2 rating it as “overweight,” 11 rating it as “hold,” and 1 rating it as “sell.”
The public float for EXR is 209.30M, and at present, short sellers hold a 1.86% of that float. The average trading volume of EXR on April 11, 2024 was 1.19M shares.
EXR’s Market Performance
The stock of Extra Space Storage Inc. (EXR) has seen a -1.76% decrease in the past week, with a -4.62% drop in the past month, and a -9.83% fall in the past quarter. The volatility ratio for the week is 2.89%, and the volatility levels for the past 30 days are at 2.41% for EXR. The simple moving average for the past 20 days is -1.22% for EXR’s stock, with a 4.51% simple moving average for the past 200 days.
Analysts’ Opinion of EXR
Many brokerage firms have already submitted their reports for EXR stocks, with Raymond James repeating the rating for EXR by listing it as a “Outperform.” The predicted price for EXR in the upcoming period, according to Raymond James is $160 based on the research report published on March 28, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see EXR reach a price target of $157. The rating they have provided for EXR stocks is “Overweight” according to the report published on March 27th, 2024.
Scotiabank gave a rating of “Sector Underperform” to EXR, setting the target price at $131 in the report published on February 13th of the current year.
EXR Trading at -0.72% from the 50-Day Moving Average
After a stumble in the market that brought EXR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -14.08% of loss for the given period.
Volatility was left at 2.41%, however, over the last 30 days, the volatility rate increased by 2.89%, as shares sank -5.38% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.75% lower at present.
During the last 5 trading sessions, EXR fell by -1.76%, which changed the moving average for the period of 200-days by +0.38% in comparison to the 20-day moving average, which settled at $143.85. In addition, Extra Space Storage Inc. saw -11.12% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at EXR starting from McNeal Gwyn Goodson, who sale 1,350 shares at the price of $150.00 back on Mar 08 ’24. After this action, McNeal Gwyn Goodson now owns 35,678 shares of Extra Space Storage Inc., valued at $202,500 using the latest closing price.
McNeal Gwyn Goodson, the EVP/Chief Legal Officer of Extra Space Storage Inc., sale 1,350 shares at $145.00 during a trade that took place back on Mar 07 ’24, which means that McNeal Gwyn Goodson is holding 37,028 shares at $195,750 based on the most recent closing price.
Stock Fundamentals for EXR
Current profitability levels for the company are sitting at:
- 0.48 for the present operating margin
- 0.89 for the gross margin
The net margin for Extra Space Storage Inc. stands at 0.31. The total capital return value is set at 0.05. Equity return is now at value 9.09, with 4.05 for asset returns.
Based on Extra Space Storage Inc. (EXR), the company’s capital structure generated 0.43 points at debt to capital in total, while cash flow to debt ratio is standing at 0.13. The debt to equity ratio resting at 0.77. The interest coverage ratio of the stock is -14.37.
Currently, EBITDA for the company is 1.74 billion with net debt to EBITDA at 6.48. When we switch over and look at the enterprise to sales, we see a ratio of 16.19. The receivables turnover for the company is 3.46for trailing twelve months and the total asset turnover is 0.09.
Conclusion
In summary, Extra Space Storage Inc. (EXR) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
