Does Extra Space Storage (NYSE:EXR) Look Attractive Now? BMO Capital Initiates Coverage

September 17, 2017 - By Adrian Erickson

 Does Extra Space Storage (NYSE:EXR) Look Attractive Now? BMO Capital Initiates Coverage

Investors sentiment increased to 0.98 in 2016 Q4. Its up 0.04, from 0.94 in 2016Q3. It increased, as 37 investors sold Extra Space Storage, Inc. shares while 132 reduced holdings. 41 funds opened positions while 124 raised stakes. 125.87 million shares or 2.06% more from 123.33 million shares in 2016Q3 were reported.

Schwab Charles Investment Mgmt Inc accumulated 0.09% or 1.08M shares. Delta Lloyd Nv accumulated 30,374 shares or 0.07% of the stock. Nuveen Asset Llc accumulated 0.19% or 492,716 shares. Great Lakes Advsrs Lc has 0.01% invested in Extra Space Storage, Inc. (NYSE:EXR) for 5,480 shares. Mutual Of America Cap Mgmt stated it has 0.03% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR). Hartford Invest Mgmt Co holds 0.04% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR) for 30,685 shares. Amalgamated National Bank holds 13,124 shares or 0.05% of its portfolio. Aperio Group Ltd Limited Liability Company holds 0.02% in Extra Space Storage, Inc. (NYSE:EXR) or 26,996 shares. Da Davidson reported 7,200 shares. Exxonmobil Investment Tx reported 29,121 shares. Sumitomo Mitsui Asset Mngmt Ltd has invested 0.02% in Extra Space Storage, Inc. (NYSE:EXR). 431,814 were reported by Sumitomo Mitsui Trust Hldgs Incorporated. Moreover, Virtus Investment Advisers has 0.06% invested in Extra Space Storage, Inc. (NYSE:EXR). Weiss Multi accumulated 483,474 shares. Barclays Pcl accumulated 0.02% or 204,152 shares.

Since March 16, 2017, it had 0 insider purchases, and 4 sales for $3.21 million activity. OVERTURF JAMES also sold $97,769 worth of Extra Space Storage, Inc. (NYSE:EXR) on Thursday, March 16.

Why Has BMO Capital Given Extra Space Storage (NYSE:EXR) a $78.0 Price Target

The firm BMO Capital has today started coverage on Extra Space Storage (NYSE:EXR) shares, with a “Hold” rating, while giving it the TP at $78.0.

Investors sentiment increased to 0.98 in 2016 Q4. Its up 0.04, from 0.94 in 2016Q3. It increased, as 37 investors sold Extra Space Storage, Inc. shares while 132 reduced holdings. 41 funds opened positions while 124 raised stakes. 125.87 million shares or 2.06% more from 123.33 million shares in 2016Q3 were reported.

Schwab Charles Investment Mgmt Inc accumulated 0.09% or 1.08M shares. Delta Lloyd Nv accumulated 30,374 shares or 0.07% of the stock. Nuveen Asset Llc accumulated 0.19% or 492,716 shares. Great Lakes Advsrs Lc has 0.01% invested in Extra Space Storage, Inc. (NYSE:EXR) for 5,480 shares. Mutual Of America Cap Mgmt stated it has 0.03% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR). Hartford Invest Mgmt Co holds 0.04% of its portfolio in Extra Space Storage, Inc. (NYSE:EXR) for 30,685 shares. Amalgamated National Bank holds 13,124 shares or 0.05% of its portfolio. Aperio Group Ltd Limited Liability Company holds 0.02% in Extra Space Storage, Inc. (NYSE:EXR) or 26,996 shares. Da Davidson reported 7,200 shares. Exxonmobil Investment Tx reported 29,121 shares. Sumitomo Mitsui Asset Mngmt Ltd has invested 0.02% in Extra Space Storage, Inc. (NYSE:EXR). 431,814 were reported by Sumitomo Mitsui Trust Hldgs Incorporated. Moreover, Virtus Investment Advisers has 0.06% invested in Extra Space Storage, Inc. (NYSE:EXR). Weiss Multi accumulated 483,474 shares. Barclays Pcl accumulated 0.02% or 204,152 shares.

Since March 16, 2017, it had 0 insider purchases, and 4 sales for $3.21 million activity. OVERTURF JAMES also sold $97,769 worth of Extra Space Storage, Inc. (NYSE:EXR) on Thursday, March 16.

Extra Space Storage, Inc. (NYSE:EXR) Ratings Coverage

Among 15 analysts covering Extra Space Storage Inc. (NYSE:EXR), 4 have Buy rating, 2 Sell and 9 Hold. Therefore 27% are positive. Extra Space Storage Inc. has $110 highest and $72 lowest target. $80.73’s average target is 2.10% above currents $79.07 stock price. Extra Space Storage Inc. had 39 analyst reports since July 23, 2015 according to SRatingsIntel. The stock of Extra Space Storage, Inc. (NYSE:EXR) earned “Hold” rating by Jefferies on Tuesday, December 20. The stock of Extra Space Storage, Inc. (NYSE:EXR) has “Hold” rating given on Monday, September 11 by BMO Capital Markets. The stock of Extra Space Storage, Inc. (NYSE:EXR) earned “Underweight” rating by Morgan Stanley on Tuesday, December 13. As per Thursday, July 20, the company rating was downgraded by Bank of America. BMO Capital Markets upgraded the stock to “Outperform” rating in Thursday, August 13 report. The firm has “Hold” rating by RBC Capital Markets given on Tuesday, August 1. DA Davidson initiated it with “Neutral” rating and $95 target in Friday, June 24 report. The firm has “Hold” rating by RBC Capital Markets given on Friday, April 28. KeyBanc Capital Markets downgraded the stock to “Sector Weight” rating in Monday, September 11 report. The firm has “Strong Buy” rating given on Friday, November 13 by Raymond James.

The stock increased 0.88% or $0.69 on September 15, reaching $79.07. About 1.14 million shares traded or 21.57% up from the average. Extra Space Storage, Inc. (NYSE:EXR) has declined 14.77% since September 17, 2016 and is downtrending. It has underperformed by 31.47% the S&P500.

Analysts expect Extra Space Storage, Inc. (NYSE:EXR) to report $1.09 EPS on October, 25.They anticipate $0.07 EPS change or 6.86 % from last quarter’s $1.02 EPS. EXR’s profit would be $137.30 million giving it 18.14 P/E if the $1.09 EPS is correct. After having $1.09 EPS previously, Extra Space Storage, Inc.’s analysts see 0.00 % EPS growth.

Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust . The company has market cap of $9.96 billion. The Firm owns, operates, manages, acquires, develops and redevelops self-storage properties located throughout the United States. It has a 27.12 P/E ratio. The Firm operates through three divisions: rental operations; tenant reinsurance, and property management, acquisition and development.

More notable recent Extra Space Storage, Inc. (NYSE:EXR) news were published by: Prnewswire.com which released: “Extra Space Storage Inc. Provides Hurricane Irma Update” on September 14, 2017, also Prnewswire.com with their article: “Extra Space Storage Inc. to Present at Bank of America Merrill Lynch 2017 …” published on September 06, 2017, Nasdaq.com published: “Extra Space Storage (EXR) Shares Cross Below 200 DMA” on August 18, 2017. More interesting news about Extra Space Storage, Inc. (NYSE:EXR) were released by: Prnewswire.com and their article: “Extra Space Storage Inc. Announces 3rd Quarter 2017 Dividend” published on August 25, 2017 as well as Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Extra Space Storage, Universal Display and Rogers …” with publication date: September 12, 2017.

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