Extra Space Storage Inc. (NYSE: EXR) stock fell -1.56% on Friday to $174.50 against a previous-day closing price of $177.26. With 1.13 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.63 million shares. During the session, the REIT – Industrial company that operates in wider Real Estate sector, reached to the highest price of $176.63 whereas the lowest price it dropped to was $172.90. The 52-week range on EXR shows that it touched its highest point at $228.84 and its lowest point at $156.70 during that stretch. It currently has a 1-year price target of $219.77. With its current market cap of 23.68 billion, EXR has annualized dividend of $6.00 while the current yield stands at 3.44%. Beta for the stock currently stands at 0.50.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EXR was down-trending over the past week, with a drop of -6.51%, but this was down by -15.14% over a month. Three-month performance surged to 3.94% while six-month performance fell -9.85%. The stock lost -2.61% in the past year, while it has lost -23.04% so far this year. A look at the trailing 12-month EPS for EXR yields 6.65 with Next year EPS estimates of 6.50. For the next quarter, that number is 1.56. This implies an EPS growth rate of 66.80% for this year and 6.77% for next year. EPS is expected to grow by 6.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 16.30%.
Float and Shares Shorts:
At present, 134.19 million EXR shares are outstanding with a float of 131.87 million shares on hand for trading. On Jul 14, 2022, short shares totaled 2.59 million, which was 1.93% higher than short shares on Jun 14, 2022. In addition to Mr. Joseph Daniel Margolis J.D. as the firm’s CEO & Director, Mr. P. Scott Stubbs serves as its Exec. VP & CFO.
Through their ownership of 96.98% of EXR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.89% of EXR, in contrast to 40.34% held by mutual funds. Shares owned by individuals account for 3.07%. As the largest shareholder in EXR with 16.17% of the stake, The Vanguard Group, Inc. holds 21,649,337 shares worth 21,649,337. A second-largest stockholder of EXR, BlackRock Fund Advisors, holds 9,349,489 shares, controlling over 6.98% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in EXR, holding 8,962,267 shares or 6.69% stake. With a 4.59% stake in EXR, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 6,141,538 shares are owned by the mutual fund manager. The Stichting Pensioenfonds ABP, which owns about 3.05% of EXR stock, is the second-largest Mutual Fund holder. It holds 4,077,729 shares valued at 810.37 million. Vanguard Total Stock Market Index holds 2.97% of the stake in EXR, owning 3,974,279 shares worth 789.81 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EXR since 14 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EXR analysts setting a high price target of $248.00 and a low target of $196.00, the average target price over the next 12 months is $225.09. Based on these targets, EXR could surge 42.12% to reach the target high and rise by 12.32% to reach the target low. Reaching the average price target will result in a growth of 28.99% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EXR will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $6.50 being high and $6.07 being low. For EXR, this leads to a yearly average estimate of $6.22. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Extra Space Storage Inc. surprised analysts by $0.26 when it reported $1.73 EPS against a consensus estimate of $1.47. The surprise factor in the prior quarter was $0.16. Based on analyst estimates, the high estimate for the next quarter is $1.68 and the low estimate is $1.55. The average estimate for the next quarter is thus $1.59.
Summary of Insider Activity:
Insiders traded EXR stock several times over the past three months with 2 Buys and 2 Sells. In these transactions, 3,000 shares were bought while 2,037 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 57 over the past year. The total number of shares bought during that period was 180,788 while 196,490 shares were sold.