Manning & Napier Advisors LLC Trims Holdings in Extra Space Storage Inc $EXR

Manning & Napier Advisors LLC reduced its holdings in shares of Extra Space Storage Inc (NYSE:EXR) by 99.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,290 shares of the real estate investment trust’s stock after selling 440,536 shares during the period. Manning & Napier Advisors LLC’s holdings in Extra Space Storage were worth $182,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Extra Space Storage in the second quarter valued at about $1,058,303,000. Resolution Capital Ltd increased its position in Extra Space Storage by 116.2% in the 2nd quarter. Resolution Capital Ltd now owns 1,950,842 shares of the real estate investment trust’s stock valued at $287,632,000 after acquiring an additional 1,048,685 shares during the period. Marshall Wace LLP increased its position in Extra Space Storage by 60.1% in the 2nd quarter. Marshall Wace LLP now owns 1,477,404 shares of the real estate investment trust’s stock valued at $217,828,000 after acquiring an additional 554,666 shares during the period. JPMorgan Chase & Co. raised its stake in Extra Space Storage by 10.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,513,795 shares of the real estate investment trust’s stock valued at $665,514,000 after acquiring an additional 419,240 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Extra Space Storage by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,500,675 shares of the real estate investment trust’s stock valued at $218,438,000 after acquiring an additional 376,469 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EXR has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Extra Space Storage in a report on Wednesday, October 8th. Truist Financial decreased their price target on Extra Space Storage from $150.00 to $142.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Evercore ISI reiterated a “cautious” rating on shares of Extra Space Storage in a research report on Monday, November 3rd. Mizuho boosted their price objective on shares of Extra Space Storage from $137.00 to $143.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley reduced their target price on shares of Extra Space Storage from $155.00 to $152.00 and set an “equal weight” rating for the company in a research note on Friday, December 5th. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Extra Space Storage presently has an average rating of “Hold” and a consensus price target of $146.27.

Extra Space Storage Trading Up 1.6%

Shares of EXR stock opened at $147.04 on Friday. The business’s fifty day moving average price is $132.59 and its 200 day moving average price is $139.86. The firm has a market capitalization of $31.21 billion, a PE ratio of 32.82, a P/E/G ratio of 2.68 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.24 and a quick ratio of 0.24. Extra Space Storage Inc has a 1-year low of $121.03 and a 1-year high of $162.77.

Extra Space Storage (NYSE:EXR) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.08 EPS for the quarter, topping the consensus estimate of $2.06 by $0.02. Extra Space Storage had a net margin of 28.40% and a return on equity of 6.56%. The company had revenue of $858.46 million for the quarter, compared to analyst estimates of $736.26 million. During the same period in the previous year, the firm earned $2.07 EPS. The business’s revenue was up 4.1% on a year-over-year basis. Extra Space Storage has set its FY 2025 guidance at 8.120-8.20 EPS. As a group, sell-side analysts forecast that Extra Space Storage Inc will post 8.1 EPS for the current fiscal year.

Extra Space Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, December 15th. Extra Space Storage’s dividend payout ratio is presently 144.64%.

Extra Space Storage 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.