47,500 Shares in Extra Space Storage Inc $EXR Purchased by Manning & Napier Advisors LLC

Key Points

• Manning & Napier Advisors purchased 47,500 Extra Space Storage shares worth approximately $6.9 million during the second quarter. Institutional investors collectively own 99.11% of the company.
• Analysts maintain a generally cautious outlook, with six Buy ratings and ten Hold ratings producing a consensus Hold rating and an average price target of $148.53.
• Extra Space Storage beat quarterly EPS estimates, reporting $1.25 versus the expected $1.16, while revenue rose 3.9% year over year. The company also declared a $1.62 quarterly dividend, equivalent to a 4.4% annualized yield.

Manning & Napier Advisors LLC purchased a new stake in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 47,500 shares of the real estate investment trust's stock, valued at approximately $6,902,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Extra Space Storage during the third quarter valued at approximately $28,000. Reflection Asset Management purchased a new stake in Extra Space Storage in the fourth quarter worth $26,000. Cassaday & Co Wealth Management LLC purchased a new position in Extra Space Storage during the 1st quarter valued at $30,000. CoreCap Advisors LLC increased its position in Extra Space Storage by 975.0% during the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 234 shares during the period. Finally, DV Equities LLC bought a new position in Extra Space Storage in the 4th quarter worth $39,000. Institutional investors own 99.11% of the company's stock.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the sale, the executive vice president directly owned 37,374 shares of the company's stock, valued at approximately $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.96% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Extra Space Storage from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 7th. Mizuho boosted their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Royal Bank Of Canada increased their price target on shares of Extra Space Storage from $153.00 to $157.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $160.00 target price on shares of Extra Space Storage in a report on Monday. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Extra Space Storage has a consensus rating of "Hold" and an average price target of $148.53.

Extra Space Storage Stock Down 0.4%

NYSE:EXR opened at $146.28 on Tuesday. The firm's 50-day moving average price is $147.30 and its 200-day moving average price is $143.88. The company has a market capitalization of $30.91 billion, a PE ratio of 32.29, a P/E/G ratio of 4.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. Extra Space Storage Inc has a 1-year low of $125.71 and a 1-year high of $158.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.09. The company had revenue of $874.15 million during the quarter, compared to analysts' expectations of $874.99 million. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. Extra Space Storage's revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, equities analysts predict that Extra Space Storage Inc will post 8.32 EPS for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.4%. Extra Space Storage's payout ratio is presently 143.05%.

Extra Space Storage Company Profile

Extra Space Storage NYSE: EXR is a real estate investment trust that specializes in the ownership, development and operation of self-storage properties. The company provides storage solutions for residential and commercial customers, offering a range of unit sizes, climate-controlled units and specialized options such as vehicle and boat storage. Extra Space Storage markets itself as a customer-focused operator, with online rentals, contactless move-in options and ancillary retail products like packing supplies and insurance to support tenant needs.

Its business model combines property ownership with third-party management and development activities.

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