Bank of Montreal Can Sells 51,747 Shares of Extra Space Storage Inc. (NYSE:EXR)

Bank of Montreal Can reduced its stake in Extra Space Storage Inc. (NYSE:EXR) by 22.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,271 shares of the real estate investment trust’s stock after selling 51,747 shares during the period. Bank of Montreal Can owned approximately 0.09% of Extra Space Storage worth $31,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of EXR. Capital Square LLC boosted its holdings in shares of 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 worth $1,461,000 after acquiring an additional 478 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Extra Space Storage in the 3rd quarter worth approximately $42,000. Fisher Asset Management LLC boosted its holdings in shares of 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 worth $10,673,000 after acquiring an additional 308 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of 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 worth $364,066,000 after acquiring an additional 189,949 shares in the last quarter. Finally, Swedbank AB boosted its holdings in shares of 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 worth $43,810,000 after acquiring an additional 10,408 shares in the last quarter. 99.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $175.00 target price on shares of Extra Space Storage in a report on Monday, October 21st. KeyCorp upped their price objective on Extra Space Storage from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. StockNews.com downgraded Extra Space Storage from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Bank of America downgraded Extra Space Storage from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $172.00 to $155.00 in a report on Monday, August 5th. Finally, Jefferies Financial Group raised Extra Space Storage from a “hold” rating to a “buy” rating and upped their price objective for the stock from $162.00 to $204.00 in a report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Extra Space Storage currently has a consensus rating of “Hold” and an average price target of $171.36.

Extra Space Storage Price Performance

EXR opened at $172.68 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77. Extra Space Storage Inc. has a 12 month low of $125.82 and a 12 month high of $184.87. The company has a fifty day simple moving average of $169.82 and a 200 day simple moving average of $164.15. The stock has a market cap of $36.60 billion, a P/E ratio of 45.20, a P/E/G ratio of 8.58 and a beta of 0.87.

Extra Space Storage (NYSE:EXR) last released its earnings results 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 for the quarter, compared to the consensus estimate of $826.93 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Extra Space Storage’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.02 EPS. On average, research analysts expect that Extra Space Storage Inc. will post 8.09 EPS for the current year.

Extra Space Storage Dividend Announcement

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

Insiders Place Their Bets

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $178.52, for a total transaction of $1,338,900.00. Following the completion of the transaction, the chief executive officer now owns 24,190 shares in the company, valued at approximately $4,318,398.80. This represents a 23.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane Olmstead sold 3,081 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $164.56, for a total value of $507,009.36. Following the transaction, the director now owns 5,877 shares of the company’s stock, valued at approximately $967,119.12. This trade represents a 34.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,228 shares of company stock worth $3,023,957. Corporate insiders own 1.36% of the company’s stock.

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.