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Extra Space Storage (EXR) Gains As Market Dips: What You Should Know
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In the latest trading session, Extra Space Storage (EXR - Free Report) closed at $195.48, marking a +0.05% move from the previous day. This change outpaced the S&P 500's 1.89% loss on the day. Elsewhere, the Dow lost 1.3%, while the tech-heavy Nasdaq lost 0.17%.
Heading into today, shares of the self-storage facility real estate investment trust had lost 10.38% over the past month, lagging the Finance sector's gain of 3.26% and the S&P 500's loss of 1.79% in that time.
Wall Street will be looking for positivity from Extra Space Storage as it approaches its next earnings report date. The company is expected to report EPS of $1.85, up 25% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $431.07 million, up 21.95% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Extra Space Storage. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. Extra Space Storage currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Extra Space Storage has a Forward P/E ratio of 25.4 right now. This represents a premium compared to its industry's average Forward P/E of 14.61.
It is also worth noting that EXR currently has a PEG ratio of 2.07. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. EXR's industry had an average PEG ratio of 2.57 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow EXR in the coming trading sessions, be sure to utilize Zacks.com.
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Extra Space Storage (EXR) Gains As Market Dips: What You Should Know
In the latest trading session, Extra Space Storage (EXR - Free Report) closed at $195.48, marking a +0.05% move from the previous day. This change outpaced the S&P 500's 1.89% loss on the day. Elsewhere, the Dow lost 1.3%, while the tech-heavy Nasdaq lost 0.17%.
Heading into today, shares of the self-storage facility real estate investment trust had lost 10.38% over the past month, lagging the Finance sector's gain of 3.26% and the S&P 500's loss of 1.79% in that time.
Wall Street will be looking for positivity from Extra Space Storage as it approaches its next earnings report date. The company is expected to report EPS of $1.85, up 25% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $431.07 million, up 21.95% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Extra Space Storage. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. Extra Space Storage currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Extra Space Storage has a Forward P/E ratio of 25.4 right now. This represents a premium compared to its industry's average Forward P/E of 14.61.
It is also worth noting that EXR currently has a PEG ratio of 2.07. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. EXR's industry had an average PEG ratio of 2.57 as of yesterday's close.
The REIT and Equity Trust - Other industry is part of the Finance sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow EXR in the coming trading sessions, be sure to utilize Zacks.com.