The Manufacturers Life Insurance Company Invests $17.04 Million in Extra Space Storage Inc $EXR

The Manufacturers Life Insurance Company purchased a new position in shares of Extra Space Storage Inc (NYSE:EXR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 117,291 shares of the real estate investment trust’s stock, valued at approximately $17,042,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EXR. Apollon Wealth Management LLC lifted its holdings in shares of Extra Space Storage by 1.9% during the 1st quarter. Apollon Wealth Management LLC now owns 3,986 shares of the real estate investment trust’s stock valued at $523,000 after purchasing an additional 75 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Extra Space Storage by 1.8% during the second 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 during the last quarter. Manchester Capital Management LLC boosted its stake in shares of Extra Space Storage by 18.9% during the 4th quarter. Manchester Capital Management LLC now owns 540 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 86 shares during the last quarter. Angeles Wealth Management LLC boosted its position in Extra Space Storage by 3.2% during the first quarter. Angeles Wealth Management LLC now owns 2,794 shares of the real estate investment trust’s stock valued at $366,000 after purchasing an additional 87 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Extra Space Storage by 39.5% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 325 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 92 shares during the last quarter. 99.11% of the stock is owned by institutional investors and hedge funds.

Extra Space Storage Price Performance

Shares of EXR opened at $142.93 on Friday. The company has a market capitalization of $30.20 billion, a price-to-earnings 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 1 year low of $125.71 and a 1 year high of $158.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.56 and a quick ratio of 1.56. The business has a 50-day moving average of $147.18 and a 200-day moving average of $143.95.

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

Extra Space Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 dividend yield of 4.5%. The ex-dividend date is Tuesday, September 15th. Extra Space Storage’s dividend payout ratio is presently 143.05%.

Insider Transactions at Extra Space Storage

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $150.00, for a total value of $495,000.00. Following the completion of the sale, the executive vice president directly owned 37,374 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

EXR has been the subject of several recent analyst reports. Raymond James Financial started coverage on shares of Extra Space Storage in a research note on Thursday, July 16th. They issued an “outperform” rating and a $44.00 target price for the company. Barclays boosted their target price on shares of Extra Space Storage from $170.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. UBS Group boosted their price target on Extra Space Storage from $158.00 to $163.00 and gave the company a “buy” rating in a research note on Friday, July 10th. The Goldman Sachs Group reiterated a “neutral” rating and set a $160.00 price objective on shares of Extra Space Storage in a research note on Thursday, July 30th. Finally, Mizuho raised their target price on Extra Space Storage from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $149.20.

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.