Now trading at a price of $137.58, Extra Space Storage Inc has moved 2.4% so far today.
Extra Space Storage Inc returned losses of -18.5% last year, with its stock price reaching a high of $184.87 and a low of $121.03. Over the same period, the stock underperformed the S&P 500 index by -37.1%. AThe company's 50-day average price was $148.84. 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. Based in Salt Lake City, UT, the Large-Cap Real Estate company has 8,012 full time employees. Extra Space Storage Inc has offered a 4.8% dividend yield over the last 12 months.
Strong Revenue Growth and Healthy Leverage Levels:
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Revenue (M) | $1,308 | $1,356 | $1,577 | $1,924 | $2,560 | $3,257 |
| Operating Margins | 49% | 49% | 62% | 55% | 46% | 41% |
| Net Margins | 32% | 36% | 52% | 45% | 31% | 26% |
| Net Income (M) | $420 | $482 | $828 | $861 | $803 | $855 |
| Net Interest Expense (M) | $23 | $17 | $166 | $219 | $419 | $499 |
| Depreciation & Amort. (M) | $220 | $224 | $242 | $288 | $506 | $783 |
| Diluted Shares (M) | 136 | 130 | 140 | 142 | 169 | 212 |
| Earnings Per Share | $3.24 | $3.71 | $6.19 | $6.41 | $4.74 | $4.03 |
| EPS Growth | n/a | 14.51% | 66.85% | 3.55% | -26.05% | -14.98% |
| Avg. Price | $93.04 | $93.63 | $151.18 | $181.97 | $132.04 | $134.36 |
| P/E Ratio | 28.45 | 25.24 | 24.38 | 28.39 | 27.86 | 33.34 |
| Free Cash Flow (M) | $654 | $704 | $896 | $1,176 | $1,302 | $1,408 |
| CAPEX (M) | $54 | $67 | $56 | $62 | $100 | $479 |
| EV / EBITDA | 19.5 | 14.17 | 16.92 | 18.81 | 11.11 | 14.17 |
| Total Debt (M) | $4,888 | $594 | $719 | $858 | $905 | $1,551 |
| Net Debt / EBITDA | 5.64 | 0.54 | 0.53 | 0.57 | 0.48 | 0.67 |
Extra Space Storage Inc has rapidly growing revenues and increasing reinvestment in the business and generally positive cash flows. Additionally, the company's financial statements display positive EPS growth and healthy leverage levels. Furthermore, Extra Space Storage Inc has decent operating margins with a stable trend.
Extra Space Storage Inc's Valuation Is in Line With Its Sector Averages:
Extra Space Storage Inc has a trailing twelve month P/E ratio of 32.4, compared to an average of 27.31 for the Real Estate sector. Based on its EPS guidance of $4.78, the company has a forward P/E ratio of 31.1. The 5.7% compound average growth rate of Extra Space Storage Inc's historical and projected earnings per share yields a PEG ratio of 5.66. This suggests that these shares are overvalued. The market is placing a fair value on Extra Space Storage Inc's equity, since its P/B ratio of 2.12 is comparable to its sector average of 1.94. The company's shares are currently trading 78.0% below their Graham number.
Extra Space Storage Inc Has an Average Rating of Buy:
The 20 analysts following Extra Space Storage Inc have set target prices ranging from $141.0 to $181.0 per share, for an average of $162.85 with a buy rating. The company is trading -15.5% away from its average target price, indicating that there is an analyst consensus of some upside potential.
Extra Space Storage Inc has an average amount of shares sold short because 2.6% of the company's shares are sold short. Institutions own 99.7% of the company's shares, and the insider ownership rate stands at 0.97%, suggesting a small amount of insider investors. The largest shareholder is Vanguard Group Inc, whose 16% stake in the company is worth $4,673,521,808.
