Why Is U-Haul Stock Trading Down Wednesday?

U-Haul Holding Company UHAL shares are moving lower Wednesday on the heels of a disappointing earnings report.

What To Know: U-Haul reported fourth-quarter EPS of 16 cents, down from 44 cents year-over-year. The company also turned in a top-line miss when it posted revenue of $1.188 billion versus estimates of $1.19 billion.

"Overall moving activity has returned to more historic trends. Self-storage is not as hot as 24 months ago, but we are still building and filling new units," said Joe Shoen, chairman of the company. 

"We continue to work on our competitive position, shoring up weak spots and improving our service to the customer."

Related Link: Ford CEO Says EVs Will Be More Expensive Than Their ICE Counterparts For Years: Report

UHAL Price Action: Shares of UHAL were down 11.4% at $55.82 at the time of publication, according to Benzinga Pro.

Image: Jason Lawrence from Flickr