Critical Review: Extra Space Storage (EXR) and Its Competitors

Extra Space Storage (NYSE: EXR) is one of 230 publicly-traded companies in the “Real estate investment trusts” industry, but how does it compare to its peers? We will compare Extra Space Storage to similar companies based on the strength of its earnings, dividends, risk, valuation, profitability, analyst recommendations and institutional ownership.

Analyst Recommendations

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This is a breakdown of current ratings and price targets for Extra Space Storage and its peers, as provided by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Extra Space Storage 0 10 2 1 2.31
Extra Space Storage Competitors 1510 7813 8437 218 2.41



Extra Space Storage presently has a consensus target price of $86.17, indicating a potential downside of 1.41%. As a group, “Real estate investment trusts” companies have a potential upside of 13.77%. Given Extra Space Storage’s peers stronger consensus rating and higher possible upside, analysts clearly believe Extra Space Storage has less favorable growth aspects than its peers.

Risk & Volatility

Extra Space Storage has a beta of 0.21, meaning that its share price is 79% less volatile than the S&P 500. Comparatively, Extra Space Storage’s peers have a beta of 0.56, meaning that their average share price is 44% less volatile than the S&P 500.

Earnings & Valuation

This table compares Extra Space Storage and its peers revenue, earnings per share and valuation.

Gross Revenue Net Income Price/Earnings Ratio
Extra Space Storage $1.11 billion $479.01 million 19.95
Extra Space Storage Competitors $794.88 million $176.08 million 13.94

Extra Space Storage has higher revenue and earnings than its peers. Extra Space Storage is trading at a higher price-to-earnings ratio than its peers, indicating that it is currently more expensive than other companies in its industry.

Dividends

Extra Space Storage pays an annual dividend of $3.12 per share and has a dividend yield of 3.6%. Extra Space Storage pays out 71.2% of its earnings in the form of a dividend. As a group, “Real estate investment trusts” companies pay a dividend yield of 4.8% and pay out 71.8% of their earnings in the form of a dividend. Extra Space Storage has raised its dividend for 7 consecutive years.

Profitability

This table compares Extra Space Storage and its peers’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Extra Space Storage 44.67% 18.87% 6.90%
Extra Space Storage Competitors 23.77% 7.14% 2.68%

Insider & Institutional Ownership

73.1% of shares of all “Real estate investment trusts” companies are owned by institutional investors. 3.5% of Extra Space Storage shares are owned by company insiders. Comparatively, 7.1% of shares of all “Real estate investment trusts” companies are owned by company insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a company is poised for long-term growth.

Summary

Extra Space Storage beats its peers on 8 of the 15 factors compared.

Extra Space Storage Company Profile

Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development. The Company’s rental operations activities include rental operations of stores in which it has an ownership interest. The Tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in its stores. The Company’s property management, acquisition and development activities include managing, acquiring, developing and selling stores. The Company’s interest in its stores is held through its operating partnership, Extra Space Storage LP (the Operating Partnership). Its primary assets are general partner and limited partner interests in the Operating Partnership.

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