Man Group plc Makes New $11.40 Million Investment in Extra Space Storage Inc $EXR

Key Points

• Man Group plc acquired 78,488 shares of Extra Space Storage in the second quarter, valued at approximately $11.4 million. Institutional investors collectively own 99.11% of the REIT’s outstanding shares.
• Analyst sentiment remains mixed, with seven Buy ratings and nine Hold ratings. The stock has an average price target of $149.20, compared with a recent opening price of $142.93.
• Extra Space Storage exceeded quarterly earnings expectations, reporting $1.25 in EPS versus the $1.16 consensus estimate, while revenue increased 3.9% year over year. The company also declared a $1.62 quarterly dividend, equivalent to a 4.5% annualized yield.

Man Group plc acquired a new position in Extra Space Storage Inc (NYSE:EXR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 78,488 shares of the real estate investment trust's stock, valued at approximately $11,404,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EXR. NewEdge Advisors LLC grew its holdings in Extra Space Storage by 9.3% in the first quarter. NewEdge Advisors LLC now owns 3,409 shares of the real estate investment trust's stock worth $506,000 after purchasing an additional 291 shares during the period. Empowered Funds LLC boosted its stake in Extra Space Storage by 15.5% during the 1st quarter. Empowered Funds LLC now owns 4,912 shares of the real estate investment trust's stock valued at $729,000 after purchasing an additional 661 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Extra Space Storage during the second quarter valued at approximately $457,000. First Trust Advisors LP boosted its holdings in Extra Space Storage by 184.1% during the 2nd quarter. First Trust Advisors LP now owns 108,205 shares of the real estate investment trust's stock worth $15,954,000 after acquiring an additional 70,115 shares during the last quarter. Finally, Brown Advisory Inc. grew its position in Extra Space Storage by 1.8% in the 2nd quarter. Brown Advisory Inc. now owns 4,431 shares of the real estate investment trust's stock worth $653,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

Insider Activity

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $150.00, for a total transaction of $495,000.00. Following the completion of the transaction, the executive vice president owned 37,374 shares in the company, valued at $5,606,100. This represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EXR. Mizuho upped their price objective on Extra Space Storage from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Royal Bank Of Canada raised their price objective on shares of Extra Space Storage from $153.00 to $157.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Wall Street Zen raised Extra Space Storage from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Bank of America upgraded shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $147.00 to $156.00 in a research report on Tuesday, June 16th. Finally, Scotiabank upped their price objective on shares of Extra Space Storage from $157.00 to $158.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Extra Space Storage currently has an average rating of "Hold" and an average target price of $149.20.

Extra Space Storage Stock Up 0.1%

Shares of NYSE:EXR opened at $142.93 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. The stock's 50-day moving average price is $147.18 and its 200-day moving average price is $143.95. The stock has a market capitalization of $30.20 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 4.10 and a beta of 1.18. Extra Space Storage Inc has a 12-month low of $125.71 and a 12-month high of $158.88.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. The firm had revenue of $874.15 million during the quarter, compared to the consensus estimate of $874.99 million. Extra Space Storage had a return on equity of 6.70% and a net margin of 27.80%.The business's revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, equities analysts anticipate that Extra Space Storage Inc will post 8.33 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, September 15th. Extra Space Storage's payout ratio is currently 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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