EXR Stock Fair Value – Extra Space Storage Reports Profitable Q2 Earnings
August 6, 2023
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Extra Space Storage ($NYSE:EXR) Inc. of Salt Lake City reported its second quarter profitability in a snapshot released by The Washington Post. Extra Space Storage is a leading provider of self-storage facilities in the United States. This figure was largely driven by rising occupancy levels, as well as strong pricing power that enabled the company to increase rental rates without sacrificing demand. Expenses also remained relatively low, with operating costs increasing only slightly compared to the same period last year.
Overall, Extra Space Storage’s strong second quarter results demonstrate its ability to capitalize on the growing demand for self-storage services and highlight its success in staying ahead of the competition. This positive outlook bodes well for the company’s ability to continue to deliver strong growth in the coming quarters.
Share Price
Extra Space Storage reported a profitable second quarter on Friday, with the company stock opening at $129.6 and closing at $125.7. This represented a drop of 9.9% from the previous closing price of $139.4. While the stock experienced a decrease in its share price, the company was still able to make a profit due to strong rental and occupancy growth as well as higher rental rates. Despite the drop in its stock price, Extra Space Storage remains optimistic about its future prospects and plans to continue to capitalize on their success in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for EXR. More…
| Total Revenues | Net Income | Net Margin |
| 2.02k | 823.09 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for EXR. More…
| Operations | Investing | Financing |
| 1.23k | -1.65k | 431.86 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for EXR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.37k | 8.33k | 15.42 |
Key Ratios Snapshot
Some of the financial key ratios for EXR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 53.3% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis – EXR Stock Fair Value
At GoodWhale, we have taken a deep dive into the fundamentals of EXTRA SPACE STORAGE. After thorough analysis, our proprietary Valuation Line has come up with a fair value of approximately $231.5 per share. This means that currently, EXTRA SPACE STORAGE stock is undervalued by 45.7%, being traded at $125.7 per share. We believe this presents a great opportunity for investors to capitalize on EXTRA SPACE STORAGE’s undervaluation and purchase shares while they remain undervalued. Additionally, our analysis suggests that EXTRA SPACE STORAGE is likely to experience strong growth in the near future. More…
Peers
Extra Space Storage Inc is one of the leading self-storage providers in the United States. The company has a large network of facilities across the country and offers a wide range of storage solutions to its customers. Extra Space Storage Inc competes with other self-storage providers such as Global Self Storage Inc, National Storage Affiliates Trust, and Life Storage Inc.
– Global Self Storage Inc ($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. reported a key measure of profitability in the second quarter of this year, although their stock price moved down on the same day. For investors interested in the company, the focus should be on the overall performance of the company and its potential for growth. Analyzing the company’s financials, such as their revenue growth, operating profits, and cash flow, can provide insight into the company’s financial health. Furthermore, investors should pay attention to the company’s debt level and liquidity, as this can impact the company’s ability to raise funds and provide capital for future projects.
Additionally, analyzing the company’s competitive advantages and evaluating their strategic positioning can provide insight into potential opportunities for growth. Overall, it is important for investors to thoroughly analyze Extra Space Storage before investing.
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