EXR Stock Fair Value – Extra Space Storage Prices $600M of 5.900% Senior Notes Due 2031

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Extra Space Storage ($NYSE:EXR) Inc. is a leading self-storage real estate investment trust (REIT) in the United States. The company recently announced the pricing of $600 million in 5.900% senior notes due 2031. The notes, which will be issued in a private offering, are expected to be sold to qualified institutional buyers. The proceeds of the offering are expected to be used for general corporate purposes, including potential acquisitions and investments, and to repay existing indebtedness.

Extra Space Storage is committed to providing customers with high-quality storage solutions through its network of professionally managed self-storage properties. The company is also dedicated to enhancing shareholder value by focusing on long-term growth and profitability.

Analysis – EXR Stock Fair Value

At GoodWhale, we’ve analyzed the fundamentals of EXTRA SPACE STORAGE and found that its share is trading at a significant discount right now. Our proprietary Valuation Line has determined that the fair value of EXTRA SPACE STORAGE share is around $189.5. That means the stock is currently trading at $126.7, which is 33.1% below the fair value. This could be a great opportunity for investors looking to buy a stock that’s undervalued. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for EXR. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for EXR. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for EXR. More…

Key Ratios Snapshot

Some of the financial key ratios for EXR are shown below. More…

Peers

Extra Space Storage Inc is one of the leading self-storage providers in the United States. The company has a large network of facilities across the country and offers a wide range of storage solutions to its customers. Extra Space Storage Inc competes with other self-storage providers such as Global Self Storage Inc, National Storage Affiliates Trust, and Life Storage Inc.

– Global Self Storage Inc ($NASDAQ:SELF)

Global Self Storage is a publicly traded real estate investment trust that owns, operates, and develops self storage properties. Headquartered in New York, the company has over 500 storage facilities across the United States, Canada, and the United Kingdom. Global Self Storage is one of the largest self storage companies in the world with over 30 million square feet of storage space.

– National Storage Affiliates Trust ($NYSE:NSA)

National Storage Affiliates Trust is a publicly traded real estate investment trust focused on the ownership, operation and acquisition of self storage properties located throughout the United States. The company has a market cap of $3.68 billion as of March 2022. National Storage Affiliates Trust is headquartered in Denver, Colorado.

– Life Storage Inc ($NYSE:LSI)

As of 2022, Life Storage Inc has a market cap of 8.69B. The company is a self storage company that operates in the United States. The company has over 850 locations in 38 states.

Summary

Extra Space Storage recently announced the pricing of its $600 million senior notes due 2031 at 5.900%. This issuance of debt is to be used to refinance existing debt and to fund other corporate purposes. This issuance is a positive sign for investors as it shows that the company has access to capital to finance their operations and further grow their business.

The debt offering also signals to investors that the company is financially stable and has the ability to cover its obligations in the future. This debt issuance should be viewed favorably by current and potential investors interested in Extra Space Storage.