Extra Space Storage Inc. (NYSE: EXR) has experienced a decline in its stock price by -0.73 compared to its previous closing price of 161.87. However, the company has seen a fall of -3.91% in its stock price over the last five trading days. seekingalpha.com reported 2024-07-24 that REITs are structured for income investors, obligated to pay out 90% of earnings to shareholders, making them an income-producing vehicle. REITs are undervalued and positioned to do well as the rate cut cycle debuts, making them an attractive sector to become overweight. A list of 12 handpicked REITs is provided, offering a combination of high dividend yields, dividend growth, and value for potential investors.
Is It Worth Investing in Extra Space Storage Inc. (NYSE: EXR) Right Now?
Extra Space Storage Inc. (NYSE: EXR) has a price-to-earnings ratio of 36.13x that is above its average ratio. Additionally, the 36-month beta value for EXR is 0.84. 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.”
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The public float for EXR is 208.84M and currently, short sellers hold a 2.02% ratio of that float. The average trading volume of EXR on July 26, 2024 was 951.15K shares.
EXR’s Market Performance
The stock of Extra Space Storage Inc. (EXR) has seen a -3.91% decrease in the past week, with a 2.22% rise in the past month, and a 19.35% gain in the past quarter. The volatility ratio for the week is 2.50%, and the volatility levels for the past 30 days are at 2.17% for EXR. The simple moving average for the last 20 days is 0.89% for EXR’s stock, with a simple moving average of 13.41% for the last 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 4.49% 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 -6.28% of loss for the given period.
Volatility was left at 2.17%, however, over the last 30 days, the volatility rate increased by 2.50%, as shares surge +2.36% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.66% upper at present.
During the last 5 trading sessions, EXR fell by -3.91%, which changed the moving average for the period of 200-days by +35.58% in comparison to the 20-day moving average, which settled at $159.46. In addition, Extra Space Storage Inc. saw 0.22% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at EXR starting from Margolis Joseph D, who sale 7,500 shares at the price of $152.58 back on Jul 01 ’24. After this action, Margolis Joseph D now owns 31,690 shares of Extra Space Storage Inc., valued at $1,144,350 using the latest closing price.
Bonner Joseph J, the Director of Extra Space Storage Inc., sale 677 shares at $148.22 during a trade that took place back on Jun 07 ’24, which means that Bonner Joseph J is holding 5,229 shares at $100,345 based on the most recent closing price.
Stock Fundamentals for EXR
Current profitability levels for the company are sitting at:
- 0.46 for the present operating margin
- 0.8 for the gross margin
The net margin for Extra Space Storage Inc. stands at 0.29. The total capital return value is set at 0.05. Equity return is now at value 9.33, with 4.13 for asset returns.
Based on Extra Space Storage Inc. (EXR), the company’s capital structure generated 0.44 points at debt to capital in total, while cash flow to debt ratio is standing at 0.14. The debt to equity ratio resting at 0.78. The interest coverage ratio of the stock is -57.93.
Currently, EBITDA for the company is 1.74 billion with net debt to EBITDA at 5.86. When we switch over and look at the enterprise to sales, we see a ratio of 15.88. The receivables turnover for the company is 3.19for trailing twelve months and the total asset turnover is 0.1.
Conclusion
In conclusion, Extra Space Storage Inc. (EXR) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
