Bank of Montreal Can Reduces Stake in Extra Space Storage Inc. (NYSE:EXR)

Bank of Montreal Can lowered its position in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 176,248 shares of the real estate investment trust's stock after selling 4,023 shares during the quarter. Bank of Montreal Can owned 0.08% of Extra Space Storage worth $26,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in EXR. Golden State Wealth Management LLC bought a new position in shares of Extra Space Storage during the fourth quarter worth about $25,000. Harbour Investments Inc. increased its position in Extra Space Storage by 90.9% during the 4th quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 80 shares during the period. Continuum Advisory LLC raised its holdings in Extra Space Storage by 68.1% during the 3rd quarter. Continuum Advisory LLC now owns 311 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 126 shares during the last quarter. Quent Capital LLC lifted its position in shares of Extra Space Storage by 89.0% in the 4th quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 154 shares during the period. Finally, Asset Planning Inc bought a new stake in shares of Extra Space Storage in the 4th quarter valued at $52,000. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Stock Up 0.7 %

Shares of EXR traded up $0.91 on Wednesday, reaching $139.15. The company's stock had a trading volume of 81,388 shares, compared to its average volume of 1,320,432. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The stock has a market capitalization of $29.53 billion, a PE ratio of 36.43, a PEG ratio of 7.76 and a beta of 0.96. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average of $147.92 and a 200-day moving average of $156.07.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.03 EPS for the quarter, topping the consensus estimate of $1.10 by $0.93. The firm had revenue of $821.90 million during the quarter, compared to the consensus estimate of $707.34 million. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. Equities analysts predict that Extra Space Storage Inc. will post 8.1 EPS for the current year.

Extra Space Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio is 160.40%.

Analysts Set New Price Targets

EXR has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Mizuho initiated coverage on Extra Space Storage in a research note on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 price target on the stock. Royal Bank of Canada reduced their price objective on shares of Extra Space Storage from $167.00 to $163.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Barclays dropped their target price on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Finally, StockNews.com cut shares of Extra Space Storage from a "hold" rating to a "sell" rating in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Extra Space Storage currently has a consensus rating of "Hold" and an average price target of $167.25.

Insiders Place Their Bets

In other news, EVP William N. Springer sold 1,220 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now owns 20,158 shares in the company, valued at $3,077,320.28. The trade was a 5.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the sale, the chief executive officer now directly owns 9,190 shares of the company's stock, valued at $1,355,065.50. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,392 shares of company stock valued at $1,392,315 in the last three months. 1.36% of the stock is currently owned by insiders.

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.