Extra Space Reports 2Q Results; Maintaining Our FVE
There was little in no-moat-rated Extra Space’s second-quarter results that would alter our long-term view of the firm, and we are maintaining our $86 fair value estimate. Amid the slowdown in storage, Extra Space posted comparatively strong results for the quarter with adjusted funds from operations of $1.09 per diluted share, a 16% increase versus the same period last year. Additionally, same-store revenue increased 5.2% and same-store NOI increased 7.7% year-over-year, both of which were outl...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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