Extra Space Storage logged a 0.6% change during today's morning session, and is now trading at a price of $159.81 per share.
Extra Space Storage shares moved -25.3% over the last 52 weeks, with a high of $222.36 and a low of $139.97. During this time, the stock lagged the S&P 500 index by -20.0%. As of January 2022, the company's 50-day average price is $160.39. Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. The large-cap Real Estate company has 4,781 full time employees and is based in Salt Lake City, UT. Extra Space Storage has returned a 3.8% dividend yield over the last 12 months.
Snapshot of the Company's Strong operating Margins:
|Operating Margins Growth||n/a||-1.24%||10.88%||1.7%|
|Earnings Per Share||$3.24||$3.71||$6.19||$6.22|
|Diluted Shares (MM)||136||130||140||135|
|Free Cash Flow (MM)||$700||$764||$949||$1,215|
|Capital Expenditures (MM)||-$8||-$7||-$4||-$23|
|Net Debt / EBITDA||5.71||6.19||5.05||5.04|
Extra Space Storage Is Too Expensive at Current Levels:
Compared to the Real Estate sector's average of 24.81, Extra Space Storage has a trailing twelve month P/E ratio of 25.7 and, according to its EPS guidance of 6.33, an expected P/E ratio of 25.2. Extra Space Storage's PEG ratio is 1.41 based on its 18.2% compound average growth rate of historical and projected earnings per share. However, we believe that it is more prudent to calculate the PEG ratio using the broader market's 5-year expected EPS growth rate of 14.3%, because the growth rate implied by Extra Space Storage's past and expected EPS is probably not sustainable. This more prudent approach shows a PEG ratio of 1.8, which suggests that the company's shares are actually overvalued.
Extra Space Storage's P/B ratio is 6.6 compared to its sector average of 2.24. The company is likely overvalued in terms of its net asset value. The company's shares are currently trading 210.4% above their fair value as expressed by Benjamin Graham's formula:
√(22.5 * 4-year average EPS * book value per share) = √(22.5 * 4.84 * 24.34) = $51.48
Extra Space Storage Benefits From Positive Market Indicators:
10 analysts are following Extra Space Storage and have set target prices ranging from $145.0 to $197.0 per share. On average, they have given the company a rating of buy. At the current price of $159.81, EXR is trading -7.41% away from its average analyst target price of $172.6 per share, implying an analyst consensus of some upside potential for the stock.
The company has an average amount of shares sold short since 4.3% of the company's shares are tied to short positions. Institutions own 98.5% of Extra Space Storage's shares, while the insider ownership rate stands at 1.55%. The biggest shareholder is the Vanguard Group, Inc. with a 17% stake in the company worth approximately $3,568,738,310.