Bank of Montreal Can Has $31.95 Million Stock Position in Extra Space Storage Inc. (NYSE:EXR)

Bank of Montreal Can reduced its position in Extra Space Storage Inc. (NYSE:EXR) by 22.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 180,271 shares of the real estate investment trust’s stock after selling 51,747 shares during the period. Bank of Montreal Can’s holdings in Extra Space Storage were worth $31,949,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Capital Square LLC lifted its stake in Extra Space Storage by 6.3% in the 3rd quarter. Capital Square LLC now owns 8,110 shares of the real estate investment trust’s stock valued at $1,461,000 after purchasing an additional 478 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Extra Space Storage in the 3rd quarter valued at about $42,000. Fisher Asset Management LLC lifted its stake in Extra Space Storage by 0.5% in the 3rd quarter. Fisher Asset Management LLC now owns 59,231 shares of the real estate investment trust’s stock valued at $10,673,000 after purchasing an additional 308 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Extra Space Storage by 10.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,020,459 shares of the real estate investment trust’s stock valued at $364,066,000 after purchasing an additional 189,949 shares during the last quarter. Finally, Swedbank AB lifted its stake in Extra Space Storage by 4.5% in the 3rd quarter. Swedbank AB now owns 243,130 shares of the real estate investment trust’s stock valued at $43,810,000 after purchasing an additional 10,408 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EXR has been the subject of several research reports. KeyCorp raised their price objective on shares of Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Evercore ISI cut their price objective on shares of Extra Space Storage from $170.00 to $168.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Bank of America downgraded shares of Extra Space Storage from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $172.00 to $155.00 in a research report on Monday, August 5th. Finally, Jefferies Financial Group upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and raised their price objective for the stock from $162.00 to $204.00 in a research report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Extra Space Storage has a consensus rating of “Hold” and an average target price of $171.36.

Insider Activity at Extra Space Storage

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the sale, the chief executive officer now owns 24,190 shares of the company’s stock, valued at approximately $4,318,398.80. The trade was a 23.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Diane Olmstead sold 3,081 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $164.56, for a total transaction of $507,009.36. Following the sale, the director now directly owns 5,877 shares in the company, valued at approximately $967,119.12. The trade was a 34.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,228 shares of company stock valued at $3,023,957 over the last three months. 1.36% of the stock is owned by insiders.

Extra Space Storage Stock Performance

Shares of NYSE:EXR opened at $172.68 on Friday. The company’s 50 day simple moving average is $169.82 and its 200 day simple moving average is $164.15. The stock has a market capitalization of $36.60 billion, a price-to-earnings ratio of 45.20, a price-to-earnings-growth ratio of 8.58 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23. Extra Space Storage Inc. has a 1 year low of $125.82 and a 1 year high of $184.87.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.12). The firm had revenue of $824.80 million during the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a net margin of 25.35% and a return on equity of 5.51%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $2.02 earnings per share. As a group, research analysts predict that Extra Space Storage Inc. will post 8.09 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $6.48 dividend on an annualized basis and a yield of 3.75%. Extra Space Storage’s dividend payout ratio (DPR) is 169.63%.

Extra Space Storage Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.