Manning & Napier Advisors LLC Has $65.19 Million Stock Position in Extra Space Storage Inc (NYSE:EXR)

Manning & Napier Advisors LLC lowered its position in Extra Space Storage Inc (NYSE:EXR - Free Report) by 43.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 439,001 shares of the real estate investment trust's stock after selling 342,985 shares during the period. Manning & Napier Advisors LLC owned 0.21% of Extra Space Storage worth $65,187,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EXR. Harbour Investments Inc. raised its stake in shares of Extra Space Storage by 90.9% in the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Quarry LP raised its position in Extra Space Storage by 156.1% in the 4th quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 217 shares during the last quarter. Kestra Investment Management LLC bought a new position in Extra Space Storage in the 4th quarter worth approximately $54,000. Parvin Asset Management LLC bought a new position in Extra Space Storage in the 4th quarter worth approximately $62,000. Finally, Lindbrook Capital LLC raised its position in Extra Space Storage by 14.9% in the 4th quarter. Lindbrook Capital LLC now owns 523 shares of the real estate investment trust's stock worth $78,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Trading Up 2.1%

Shares of EXR stock traded up $3.09 on Monday, hitting $149.16. The stock had a trading volume of 993,290 shares, compared to its average volume of 1,054,171. Extra Space Storage Inc has a twelve month low of $121.03 and a twelve month high of $184.87. The firm has a market cap of $31.65 billion, a P/E ratio of 34.61, a PEG ratio of 3.55 and a beta of 1.11. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.85. The company has a fifty day moving average price of $146.71 and a two-hundred day moving average price of $148.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.04. Extra Space Storage had a net margin of 27.84% and a return on equity of 6.11%. The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $705.12 million. During the same quarter in the previous year, the business earned $1.96 EPS. The firm's revenue was up 2.6% on a year-over-year basis. As a group, analysts forecast that Extra Space Storage Inc will post 8.1 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Monday, June 16th. Extra Space Storage's payout ratio is presently 150.35%.

Insider Buying and Selling

In other Extra Space Storage news, CEO Joseph D. Margolis sold 7,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EXR shares. Royal Bank Of Canada dropped their price objective on shares of Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Mizuho boosted their price objective on shares of Extra Space Storage from $141.00 to $153.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 28th. Barclays dropped their price objective on shares of Extra Space Storage from $181.00 to $178.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Scotiabank boosted their price objective on shares of Extra Space Storage from $149.00 to $166.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Finally, Bank of America lifted their target price on shares of Extra Space Storage from $155.00 to $161.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $159.54.

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.