A month has gone by since the last earnings report for Extra Space Storage (EXR). Shares have lost about 5.4% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Extra Space Storage due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

How Have Estimates Been Moving Since Then?

It turns out, estimates review have trended downward during the past month.

VGM Scores

At this time, Extra Space Storage has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. Following the exact same course, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Extra Space Storage has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.

Performance of an Industry Player

Extra Space Storage belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Highwoods Properties (HIW), has gained 2.1% over the past month. More than a month has passed since the company reported results for the quarter ended December 2024.

Highwoods Properties reported revenues of $205.53 million in the last reported quarter, representing a year-over-year change of -0.6%. EPS of -$0.03 for the same period compares with $0.99 a year ago.

For the current quarter, Highwoods Properties is expected to post earnings of $0.82 per share, indicating a change of -7.9% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.1% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Highwoods Properties. Also, the stock has a VGM Score of D.

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This article originally published on Zacks Investment Research (zacks.com).

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