Extra Space Storage Stock Soars in Strong Market Performance

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Extra Space Storage ($NYSE:EXR) Inc. stock was a major winner on the stock market today, soaring to new heights in a strong showing for the storage provider. On a day of strong trading, Extra Space Storage Inc.’s stock outperformed the rest of the market, as investors responded positively to the company’s recent performance. The company offers customers a wide range of storage solutions, including traditional self-storage, climate-controlled storage, vehicle storage, and more. The company prides itself on delivering exceptional customer service and providing high-quality storage solutions to meet the needs of its customers.

Share Price

Overall, EXTRA’s stock has shown strong performance in the last few months, and investors are sure to be watching closely for the company’s next round of earnings reports. Live Quote…

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…

Analysis

At GoodWhale, we analyze the fundamentals of EXTRA SPACE STORAGE to determine if it is a good company for our clients to invest in. Our Star Chart scores the company as a ‘cow’, which is a type of company that has a track record of paying out consistent and sustainable dividends. This makes EXTRA SPACE STORAGE an attractive option for income-focused investors. Furthermore, our data shows that EXTRA SPACE STORAGE is strong in terms of asset, dividend, growth, and profitability. The company also has a high health score of 8/10 with regard to its cashflows and debt, so it is capable of paying off its debt and funding future operations. As such, EXTRA SPACE STORAGE is an attractive investment option for those who are looking for consistent returns over the long term. 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 Inc. (NYSE: EXR) saw its stock price move up on a strong trading day, outperforming the market. This was attributed to several positive investment catalysts, including strong rental demand, cost optimization initiatives, and the company’s focus on increasing occupancy and expanding margins. Looking ahead, analysts believe that the company is well-positioned to take advantage of opportunities due to its strong balance sheet and access to capital.

Furthermore, with the company taking steps to focus on its core storage business, investors have been encouraged by the potential for long-term growth. As a result, many believe that Extra Space Storage is a good buy for long-term investors.