NEW BULLISH Plays
Extra Space Storage Inc. - EXR - close: 52.26 change: -0.45
Stop Loss: 49.90
Target(s): To Be Determined
Current Gain/Loss: unopened
Entry on May -- at $--.--
Listed on May 28, 2014
Time Frame: Exit PRIOR to June 13th
Average Daily Volume = 583 thousand
New Positions: Yes, see below
Why We Like It:
EXR is a REIT. The company is in the self-storage business. They currently own and/or operate 1,000 self-storage properties in 38 states with over 59 million square feet of rentable space.
Americans do love their stuff and they have a hard time letting go of it. Their love affair with holding on to more stuff could be a good reason EXR's stock has soared from its 2009 lows. Oh and the company has been consistently performing over and over again.
The latest results were in-line with analysts' estimates but it was also their 14th quarter in a row of double-digit growth.
EXR just raised their dividend +17.5% to 47 cents a share. This new dividend is payable on June 30th to shareholders of record on June 13th (the ex-dividend date). We want to exit prior to the ex-dividend date.
Technically EXR is hovering at all-time highs. Traders just bought the dip today near $52 and its simple 10-dma. We are suggesting a trigger to open bullish positions at $53.05 (more aggressive traders can just buy it now). If we are triggered at $53.05 we'll start with a stop loss at $49.90.
Longer-term investors may want to hold on to this stock. The point & figure chart is bullish with a $67 target.
Trigger @ 53.05
Suggested Position: buy EXR stock @ (trigger)