Extra Space Storage: Oversupply And Reduced Demand Are Taking A Toll [Seeking Alpha]
Extra Space Storage Inc (EXR)
Last extra space storage inc earnings: 2/18 04:05 pm
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US:NYSE Investor Relations:
ir.extraspace.com/investor-relations
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Source: Seeking Alpha
Extra Space Storage Inc. is a potential short candidate due to its recent merger at the top of the market and negative growth outlook. The oversupply in the sector is expected to worsen with more supply in the pipeline, leading to increased competition and lower rental rates. Looking for a portfolio of ideas like this one? Members of Portfolio Income Solutions get exclusive access to our subscriber-only portfolios. Learn More » The self-storage has become materially oversupplied resulting in a greater than 30% drop in street rents from the 2022 peak. More supply remains in the pipeline which I believe will drop rates even further and make Existing Customer Rate Increases (ECRI) significantly more punishing to occupancy. The damage to the sector is readily apparent in industry reports and was the primary subject of 4Q conference calls which made it evident those participating in self-storage are painfully aware of the tough times ahead. The Extra Space Storage Short Thesis D
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EXR
News
- Extra Space Storage Inc. (NYSE:EXR) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Extra Space Storage (EXR) Q1 FFO Tops Estimates, Occupancy Rises [Yahoo! Finance]Yahoo! Finance
- Extra Space Storage Inc. (NYSE: EXR) had its price target lowered by analysts at Evercore ISI from $145.00 to $139.00.MarketBeat
- Compared to Estimates, Extra Space Storage (EXR) Q1 Earnings: A Look at Key Metrics [Yahoo! Finance]Yahoo! Finance
- REIT Extra Space Storage reports first-quarter revenue above estimates as occupancy grows [Yahoo! Finance]Yahoo! Finance
EXR
Earnings
- 4/30/24 - Miss
EXR
Sec Filings
- 5/3/24 - Form 10-Q
- 4/30/24 - Form 8-K
- 4/15/24 - Form 8-K
- EXR's page on the SEC website