Extra Space Storage (EXR) Stock Could Be Undervalued On Cash Flow Yet Full On Earnings

Extra Space Storage has delivered a 31.4% total return over the past three years, while the latest intrinsic value estimate from a Discounted Cash Flow (DCF) model points to the shares trading at about an 11.1% discount to that estimate. Traditional market multiples suggest the stock is priced roughly in line with peers. A 31.4% three year return signals that shareholders have already seen meaningful gains, which can reduce the margin of safety for new buyers if the market has already priced...