Manning & Napier Advisors LLC Buys 7,411 Shares of Extra Space Storage Inc $EXR

Manning & Napier Advisors LLC boosted its position in shares of Extra Space Storage Inc (NYSE:EXR - Free Report) by 18.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,500 shares of the real estate investment trust's stock after purchasing an additional 7,411 shares during the quarter. Manning & Napier Advisors LLC's holdings in Extra Space Storage were worth $6,229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Norges Bank purchased a new stake in Extra Space Storage during the fourth quarter valued at approximately $1,219,606,000. Capital International Investors lifted its stake in Extra Space Storage by 73.9% during the 4th quarter. Capital International Investors now owns 6,256,687 shares of the real estate investment trust's stock valued at $814,746,000 after acquiring an additional 2,658,947 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Extra Space Storage by 900.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,187,795 shares of the real estate investment trust's stock worth $308,348,000 after purchasing an additional 1,969,013 shares during the period. Cohen & Steers Inc. boosted its position in Extra Space Storage by 13.4% in the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust's stock worth $2,080,971,000 after purchasing an additional 1,888,763 shares in the last quarter. Finally, Resolution Capital Ltd grew its position in Extra Space Storage by 116.2% during the second quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust's stock valued at $287,632,000 after buying an additional 1,048,685 shares during the period. Institutional investors own 99.11% of the company's stock.

Extra Space Storage Price Performance

Shares of EXR traded up $1.24 on Friday, reaching $143.92. The stock had a trading volume of 876,920 shares, compared to its average volume of 1,094,788. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $155.19. The firm has a market capitalization of $30.40 billion, a PE ratio of 32.27, a PEG ratio of 4.46 and a beta of 1.19. The firm has a 50-day moving average of $144.90 and a 200 day moving average of $141.55. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Extra Space Storage (NYSE:EXR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.87). The company had revenue of $856.03 million for the quarter, compared to analyst estimates of $851.35 million. Extra Space Storage had a return on equity of 6.65% and a net margin of 27.66%.The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.050-8.350 EPS. Sell-side analysts expect that Extra Space Storage Inc will post 8.26 EPS for the current year.

Extra Space Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, June 15th. Extra Space Storage's payout ratio is currently 145.29%.

Insider Activity

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $150.00, for a total value of $495,000.00. Following the transaction, the executive vice president directly owned 37,374 shares of the company's stock, valued at $5,606,100. This trade represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.96% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Bank of America upgraded shares of Extra Space Storage from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $147.00 to $156.00 in a research report on Tuesday, June 16th. JPMorgan Chase & Co. increased their price objective on Extra Space Storage from $142.00 to $144.00 and gave the stock a "neutral" rating in a research report on Monday, March 23rd. UBS Group lifted their price target on shares of Extra Space Storage from $158.00 to $163.00 and gave the company a "buy" rating in a research report on Friday. Barclays raised their target price on Extra Space Storage from $170.00 to $172.00 and gave the company an "overweight" rating in a report on Friday. Finally, Mizuho boosted their price target on shares of Extra Space Storage from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $153.57.

About Extra Space Storage

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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