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Extra Space: Healthy Demand, Marketing Strategies to Drive Q3
Extra Space Storage (EXR) is expected to report its Q3 2018 results on October 30. Wall Street expects AFFO of $1.19 per share.
Where Extra Space Stands among Its Peers after Q2 Results
Extra Space is trading at a premium compared to CubeSmart and Life Storage and at a discount to Public Storage.
Extra Space Storage Continues to Enhance Shareholder Wealth
Since its conversion to an REIT in 2004, Extra Space Storage (EXR) has paid regular quarterly cash dividends to its shareholders.
Acquisitions, Joint Ventures Expand Extra Space’s Footprint
Acquisitions have helped Extra Space (EXR) expand its domestic footprint. It has acquired properties worth $4.5 billion in the last five years.
Extra Space’s Growth Driven by Demand and Marketing Strategies
Extra Space has adopted digital marketing platforms, including social media and search engines, to drive traffic at its facilities.
Extra Space Rides on Strong Fundamentals and Earnings Outlook
Extra Space’s top-line and bottom-line results have been seeing YoY (year-over-year) growth for the past several quarters.
Can Extra Space Storage Beat Analysts’ Q2 Estimates?
Extra Space Storage (EXR), set to report its Q2 results on July 31, could continue to benefit from self-storage demand rising.
How Wall Street Analysts View Extra Space
Analysts gave EXR a mean price target of $87.93, implying an ~1.5% rise from its current level of $86.72. It has a market capitalization of ~$10.9 billion.
Extra Space—Valuations on Par with the Industry
EXR’s FFO per share for 2017 is expected to be $4.32–$4.65.
Extra Space and Its Solid Balance Sheet
EXR increased its fixed debt ratio to 80.0% in 3Q17 from 76.1% in 2Q17.
Company & Industry Overviews Extra Space Storage—Highest Stock Price Return among REITs
Extra Space’s (EXR) stock price has risen from $12.77 in 2008 to $83.80 in January 2018. EXR has returned 705.4% in the past ten years.
Extra Space’s Occupancy Rate and Other Growth Factors
EXR’s occupancy rate in 2Q17 was 94.5% compared to 94.1% in 2Q16.
Key Drivers of Extra Space’s 2018 Performance
Extra Space (EXR) holds 12% of its total properties in the form of joint ventures and 32% managed for third parties—the largest in the industry.
How Wall Street Analysts Rated the Top 3 Self-Storage REITs after 2Q17
Extra Space Storage’s (EXR) analyst target price is $81.13, up 7% from its current price level.
Comparing the Valuations of 3 Leading Self-Storage REITs after 2Q17
Public Storage (PSA) trades at an EV-to-EBITDA multiple of ~21.5x.
Chart in Focus: Self-Storage REITs’ 2Q17 Balance Sheets
CubeSmart issued two notes of $50.0 million each, carrying interest of 4.4% and 4.0% and maturity dates of 2023 and 2025, respectively.
Overview of Self-Storage REITs’ Development Activities in 2Q17
During 1H17, CubeSmart acquired two properties located in Maryland and California worth $21.9 million.
How the Top 3 Self-Storage REITs Managed Their Expenses in 2Q17
Although Public Storage did not provide any guidance for net operating income expected during fiscal 2017, analysts expect the company to report flat YoY NOI of ~$2.0 billion during 2Q17.
Comparing the Top 3 Self-Storage REITs after 2Q17 Earnings
Self-storage REITs are experiencing solid growth in income and revenues in 2017. In this series, we’ll analyze the 2Q17 results for Public Storage (PSA), Extra Space Storage (EXR), and CubeSmart (CUBE).
Black Week for REITs, Real Estate Services Performed the Worst
Though the week ended Friday, January 8, 2016, wasn’t fruitful for many investors, a few REITs provided some relief to investors in the volatile market.
Specialized REITs: Value Drivers
Specialized REITs and residential REITs within IYR generated positive returns of 0.2% and 9%, respectively, on a yearly basis.
How Could Investing in EBSAX Affect Your Portfolio’s Performance?
EBSAX seeks to generate attractive risk-adjusted returns across a broad range of market conditions.
How Has EBSAX Performed in the Market?
Managed futures The Equinox Campbell Strategy Fund Class A (EBSAX) is an alternative mutual fund that seeks to achieve its investment objectives by using the “managed futures” strategy. The Natixis ASG Managed Futures Strategy Fund Class A (AMFAX) and the Direxion Indexed Commodity Strategy Fund Class A (DXCTX) use similar alternative managed futures strategies. 7 […]
Analyzing Plum Creek Timber’s Merger with Weyerhaeuser
Plum Creek Timber (PCL) generated returns of 14.6% last week, backed by news of a merger with Weyerhaeuser (WY). WY bought PCL for $8.44 billion.
Optimism in Small Business Remained Unchanged in October
According to the NFIB, the small business optimism index remained unchanged at 96.1 in October. The reading was below the consensus estimate of 96.4.
Self-Storage REITs: Who Doesn’t Want Storage Space?
Self-storage REITs own and operate self-storage facilities like rooms, lockers, containers, and outdoor space. Tenants include businesses and individuals.
