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

Manning & Napier Advisors LLC acquired a new stake in Extra Space Storage Inc (NYSE:EXR) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 47,500 shares of the real estate investment trust’s stock, valued at approximately $6,902,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Extra Space Storage during the second quarter valued at $3,334,263,000. Cohen & Steers Inc. lifted its stake in Extra Space Storage by 13.4% during the 4th quarter. Cohen & Steers Inc. now owns 15,979,424 shares of the real estate investment trust’s stock valued at $2,080,971,000 after acquiring an additional 1,888,763 shares during the period. State Street Corp lifted its stake in Extra Space Storage by 1.7% during the 3rd quarter. State Street Corp now owns 13,910,878 shares of the real estate investment trust’s stock valued at $1,960,599,000 after acquiring an additional 230,697 shares during the period. Norges Bank purchased a new stake in shares of Extra Space Storage during the 4th quarter valued at about $1,219,606,000. Finally, Capital International Investors boosted its holdings in shares of 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 last quarter. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

Shares of NYSE:EXR opened at $146.28 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $30.91 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 4.22 and a beta of 1.18. The firm’s 50 day moving average price is $147.30 and its 200-day moving average price is $143.88. Extra Space Storage Inc has a twelve month low of $125.71 and a twelve month high of $158.88.

Extra Space Storage (NYSE:EXR) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. Extra Space Storage had a net margin of 27.80% and a return on equity of 6.70%. The company had revenue of $874.15 million during the quarter, compared to analyst estimates of $874.99 million. During the same period in the previous year, the business posted $2.05 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Equities research analysts expect that Extra Space Storage Inc will post 8.32 EPS for the current year.

Extra Space Storage Announces Dividend

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

Insider Activity at Extra Space Storage

In related news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’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 transaction, the executive vice president directly owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. This trade represents a 8.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EXR shares. UBS Group boosted their price objective on shares of Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a report on Friday, July 10th. Raymond James Financial began coverage on shares of Extra Space Storage in a research report on Thursday, July 16th. They issued an “outperform” rating and a $44.00 target price for the company. Bank of America upgraded shares of Extra Space Storage from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $147.00 to $156.00 in a research note on Tuesday, June 16th. Scotiabank increased their price target on Extra Space Storage from $157.00 to $158.00 and gave the company a “sector perform” rating in a report on Tuesday, August 18th. Finally, Wells Fargo & Company raised their price target on Extra Space Storage from $154.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $148.53.

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.