This story originally appeared on Zacks
Extra Space Storage (EXR) closed the most recent trading day at $196.92, moving -0.98% from the previous trading session. This change was narrower than the S&P 500’s daily loss of 1.9%. Meanwhile, the Dow lost 1.43%, and the Nasdaq, a tech-heavy index, added 0.06%.
Coming into today, shares of the self-storage facility real estate investment trust had lost 3.75% in the past month. In that same time, the Finance sector lost 1.06%, while the S&P 500 lost 3.39%.
Investors will be hoping for strength from Extra Space Storage as it approaches its next earnings release, which is expected to be February 23, 2022. In that report, analysts expect Extra Space Storage to post earnings of $1.85 per share. This would mark year-over-year growth of 25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $431.07 million, up 21.95% from the year-ago period.
Any recent changes to analyst estimates for Extra Space Storage should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.34% higher within the past month. Extra Space Storage currently has a Zacks Rank of #3 (Hold).
Investors should also note Extra Space Storage’s current valuation metrics, including its Forward P/E ratio of 25.81. Its industry sports an average Forward P/E of 14.82, so we one might conclude that Extra Space Storage is trading at a premium comparatively.
It is also worth noting that EXR currently has a PEG ratio of 2.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. EXR’s industry had an average PEG ratio of 2.69 as of yesterday’s close.
The REIT and Equity Trust – Other industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Just Released: Zacks Top 10 Stocks for 2022
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022?
From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Extra Space Storage Inc (EXR): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research