Bank of Montreal Can Has $16.90 Million Holdings in Extra Space Storage Inc $EXR

Bank of Montreal Can decreased its position in Extra Space Storage Inc (NYSE:EXR) by 20.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,639 shares of the real estate investment trust’s stock after selling 30,164 shares during the quarter. Bank of Montreal Can’s holdings in Extra Space Storage were worth $16,902,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in EXR. State of Michigan Retirement System grew its holdings in Extra Space Storage by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 57,679 shares of the real estate investment trust’s stock valued at $8,504,000 after buying an additional 200 shares in the last quarter. Versor Investments LP boosted its position in shares of Extra Space Storage by 215.7% in the second quarter. Versor Investments LP now owns 10,068 shares of the real estate investment trust’s stock valued at $1,484,000 after acquiring an additional 6,879 shares during the period. Plato Investment Management Ltd grew its stake in shares of Extra Space Storage by 1,062.8% in the second quarter. Plato Investment Management Ltd now owns 1,093 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 999 shares in the last quarter. Presima Securities ULC increased its position in Extra Space Storage by 3.0% during the second quarter. Presima Securities ULC now owns 10,962 shares of the real estate investment trust’s stock worth $1,616,000 after acquiring an additional 320 shares during the period. Finally, AlphaStar Capital Management LLC bought a new position in Extra Space Storage during the second quarter worth about $1,541,000. Institutional investors own 99.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Extra Space Storage in a research report on Wednesday, October 8th. Scotiabank reduced their price target on Extra Space Storage from $166.00 to $162.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Royal Bank Of Canada dropped their price objective on Extra Space Storage from $148.00 to $146.00 and set a “sector perform” rating for the company in a report on Friday. UBS Group cut their target price on Extra Space Storage from $169.00 to $160.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $146.00 target price (down from $169.00) on shares of Extra Space Storage in a report on Thursday, August 21st. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and a consensus target price of $148.36.

Extra Space Storage Stock Up 1.7%

Shares of EXR opened at $133.30 on Friday. The firm has a 50 day simple moving average of $142.90 and a two-hundred day simple moving average of $145.00. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.29 and a quick ratio of 0.29. Extra Space Storage Inc has a one year low of $121.03 and a one year high of $175.57. The company has a market cap of $28.29 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.56 and a beta of 1.14.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.02. Extra Space Storage had a return on equity of 6.53% and a net margin of 28.40%.The company had revenue of $838.53 million for the quarter, compared to analyst estimates of $736.26 million. During the same quarter last year, the company posted $2.07 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. Research analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $1.62 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.9%. Extra Space Storage’s dividend payout ratio is 144.64%.

Insider Buying and Selling at Extra Space Storage

In related news, CEO Joseph D. Margolis sold 7,500 shares of Extra Space Storage stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $141.41, for a total transaction of $1,060,575.00. Following the sale, the chief executive officer directly owned 19,760 shares of the company’s stock, valued at approximately $2,794,261.60. The trade was a 27.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

Extra Space Storage Company 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.