Bank of Montreal Can increased its position in shares of Extra Space Storage Inc (NYSE:EXR) by 118.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,069 shares of the real estate investment trust’s stock after buying an additional 101,839 shares during the period. Bank of Montreal Can owned approximately 0.15% of Extra Space Storage worth $14,668,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in EXR. Janney Montgomery Scott LLC bought a new stake in Extra Space Storage during the first quarter worth approximately $204,000. Pacer Advisors Inc. increased its stake in Extra Space Storage by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,810 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 88 shares in the last quarter. Global X Management Co. LLC increased its stake in Extra Space Storage by 42.4% in the first quarter. Global X Management Co. LLC now owns 2,830 shares of the real estate investment trust’s stock worth $211,000 after buying an additional 842 shares in the last quarter. Atria Investments LLC bought a new stake in Extra Space Storage during the second quarter worth approximately $213,000. Finally, Achmea Investment Management B.V. bought a new stake in Extra Space Storage during the first quarter worth approximately $216,000.
Shares of Extra Space Storage Inc (EXR) opened at 78.97 on Friday. Extra Space Storage Inc has a one year low of $68.09 and a one year high of $93.93. The company has a market capitalization of $9.92 billion, a P/E ratio of 27.33 and a beta of 0.35. The firm has a 50 day moving average price of $76.77 and a 200 day moving average price of $76.14.
Extra Space Storage (NYSE:EXR) last posted its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.05. Extra Space Storage had a return on equity of 14.92% and a net margin of 36.40%. The firm had revenue of $263 million during the quarter, compared to analyst estimates of $233.12 million. During the same period last year, the company posted $0.86 EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. On average, equities research analysts predict that Extra Space Storage Inc will post $2.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Tuesday, June 13th. Extra Space Storage’s dividend payout ratio (DPR) is presently 108.33%.
A number of equities research analysts recently commented on EXR shares. BidaskClub upgraded Extra Space Storage from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) upgraded Extra Space Storage from a “buy” rating to a “conviction-buy” rating and set a $95.00 price objective for the company in a report on Monday, May 15th. Royal Bank Of Canada reiterated a “hold” rating and issued a $80.00 price objective on shares of Extra Space Storage in a report on Thursday, April 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $80.00 price objective on shares of Extra Space Storage in a report on Monday, April 3rd. Finally, Bank of America Corporation downgraded Extra Space Storage from a “buy” rating to a “neutral” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $88.18.
In related news, EVP James Overturf sold 1,300 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $74.59, for a total value of $96,967.00. Following the completion of the sale, the executive vice president now directly owns 89,475 shares of the company’s stock, valued at approximately $6,673,940.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Spencer Kirk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $75.75, for a total value of $1,515,000.00. Following the completion of the sale, the director now directly owns 665,748 shares of the company’s stock, valued at $50,430,411. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,900 shares of company stock valued at $4,881,588. Corporate insiders own 3.72% of the company’s stock.
About Extra Space Storage
Extra Space Storage Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.
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