Stock in Focus: Extra Space Storage Inc (EXR)

Company Profile:

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of September 30, 2020, the Company owned and/or operated 1,906 self-storage stores in 40 states, Washington, D.C. and Puerto Rico. The Company’s stores comprise approximately 1.4 million units and approximately 147.5 million square feet of rentable space. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the United States.

Recent News:

The Company’s board of directors has declared a quarterly dividend of $0.90 per share on the common stock of the Company for the fourth quarter 2020. The dividend is payable on December 31, 2020 to stockholders of record at the close of business on December 15, 2020.

On Nov. 9, 2020, the company announced it made a $300 million investment in preferred stock of Jernigan Capital, Inc. in connection with the acquisition of JCAP by affiliates of NexPoint Advisors, L.P.

The company reported third-quarter 2020 core funds from operations (FFO) per share of $1.31, beating the Zacks Consensus Estimate of $1.24. The figure comes in 5.6% higher than the prior-year quarter’s $1.24.


Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.


Profitability – Measures the historical price movement of the stock.


Solvency – Measures the solvency of the company based on several ratios.


Efficiency – Measures the strength and historic growth of a company’s return on invested capital.



NYT’s strengths can be seen in its strong growth and robust solvency compared with its peers. Its revenue has increased over recent years. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, MACD is trying to cross back up and the RSI stands at 43.36 with positive bias. We rate New York Times Company (NYT) a STRONG BUY.

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