Extra Space Storage reported solid third-quarter results, with core funds from operations of $2.17 per share, a 4.3% increase from the prior-year quarter, and same-store net operating income growth of 4.6%.
Extra Space’s third-party management business serves not only as a capital-light revenue stream, but also as an acquisition pipeline, ensuring future growth.
Supply has increased over the past few years, which could significantly affect management’s ability to pass along rental price increases.
Metric | EXR | COLD | PLD |
|---|---|---|---|
Price/Earnings (Normalized) | 32.19 | 81.60 | 27.59 |
Price/Book Value | 2.59 | 1.52 | 2.21 |
Price/Sales | 9.98 | 1.76 | 13.35 |
Price/Cash Flow | 18.10 | 12.21 | 22.20 |
Metric | EXR | COLD | PLD |
|---|---|---|---|
Quick Ratio | 0.84 | 0.52 | 0.64 |
Current Ratio | 0.89 | 0.52 | 0.79 |
Interest Coverage | 2.52 | 2.46 | 5.64 |
Metric | EXR | COLD | PLD |
|---|---|---|---|
Return on Assets (Normalized) | 3.74% | 9.16% | 4.70% |
Return on Equity (Normalized) | 8.23% | 25.58% | 8.74% |
Return on Invested Capital (Normalized) | 5.54% | 12.37% | 6.03% |
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United States