The Manufacturers Life Insurance Company Lowers Holdings in Extra Space Storage Inc $EXR

The Manufacturers Life Insurance Company trimmed its holdings in Extra Space Storage Inc (NYSE:EXR) by 6.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,291 shares of the real estate investment trust’s stock after selling 7,561 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Extra Space Storage were worth $17,042,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of Extra Space Storage by 13,598.3% during the second quarter. California State Teachers Retirement System now owns 40,299,246 shares of the real estate investment trust’s stock valued at $5,855,480,000 after buying an additional 40,005,054 shares during the last quarter. BlackRock Inc. bought a new position in shares of Extra Space Storage during the second quarter worth $3,334,263,000. Norges Bank purchased a new position in Extra Space Storage during the fourth quarter valued at $1,219,606,000. Capital International Investors grew its stake in Extra Space Storage by 73.9% during the fourth 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Extra Space Storage by 24,295.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,241,413 shares of the real estate investment trust’s stock valued at $325,677,000 after acquiring an additional 2,232,225 shares during the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Extra Space Storage Price Performance

Extra Space Storage stock opened at $137.83 on Friday. The company has a market cap of $29.12 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 3.95 and a beta of 1.16. The firm’s fifty day moving average is $145.46 and its 200 day moving average is $143.51. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.96. Extra Space Storage Inc has a 52-week low of $125.71 and a 52-week high of $158.88.

Extra Space Storage (NYSE:EXR) last issued its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $874.15 million during the quarter, compared to analysts’ expectations of $874.99 million. During the same period last year, the company posted $2.05 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. Sell-side analysts forecast that Extra Space Storage Inc will post 8.33 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $1.62 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $6.48 annualized dividend and a yield of 4.7%. Extra Space Storage’s dividend payout ratio (DPR) is currently 143.05%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen raised shares of Extra Space Storage from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Mizuho cut their price objective on Extra Space Storage from $155.00 to $152.00 and set an “outperform” rating for the company in a research report on Wednesday, September 2nd. Royal Bank Of Canada lifted their target price on Extra Space Storage from $153.00 to $157.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. 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 research note on Tuesday, August 18th. Finally, UBS Group raised their price target on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $148.93.

Extra Space Storage Company Profile

Extra Space Storage Inc is a real estate investment trust (REIT) that owns, operates, manages and acquires self-storage facilities. Its properties provide individuals and businesses with rental storage units in a range of sizes, along with vehicle, boat and recreational vehicle storage at select locations.

The company also provides third-party management services for self-storage properties owned by other investors and operators. Its services generally include facility operations, marketing, customer support, revenue management and technology solutions.