The Manufacturers Life Insurance Company Trims Stock Position in Extra Space Storage Inc $EXR

The Manufacturers Life Insurance Company lessened its holdings in Extra Space Storage Inc (NYSE:EXR) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 117,291 shares of the real estate investment trust’s stock after selling 7,561 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Extra Space Storage worth $17,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Raiffeisen Bank International AG increased its holdings in Extra Space Storage by 82.4% during the second quarter. Raiffeisen Bank International AG now owns 186 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 84 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Extra Space Storage in the third quarter worth approximately $28,000. Reflection Asset Management purchased a new position in shares of Extra Space Storage during the 4th quarter worth $26,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Extra Space Storage during the 1st quarter worth $30,000. Finally, CoreCap Advisors LLC grew its position in shares of Extra Space Storage by 975.0% during the 2nd quarter. CoreCap Advisors LLC now owns 258 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 234 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on EXR shares. Bank of America upgraded Extra Space Storage from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $147.00 to $156.00 in a research note on Tuesday, June 16th. The Goldman Sachs Group reissued a “neutral” rating and set a $160.00 price target on shares of Extra Space Storage in a report on Thursday, July 30th. Royal Bank Of Canada upped their price target on Extra Space Storage from $153.00 to $157.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Truist Financial raised their price objective on Extra Space Storage from $140.00 to $148.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised Extra Space Storage from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $148.93.

Extra Space Storage Stock Performance

Shares of NYSE EXR opened at $137.83 on Friday. The firm has a fifty day moving average price of $145.46 and a 200-day moving average price of $143.51. 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 stock has a market cap of $29.12 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 3.95 and a beta of 1.16. Extra Space Storage Inc has a 1 year low of $125.71 and a 1 year high of $158.88.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $1.25 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 firm had revenue of $874.15 million for the quarter, compared to the consensus estimate of $874.99 million. During the same period last year, the firm earned $2.05 EPS. The company’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. Equities analysts anticipate that Extra Space Storage Inc will post 8.33 earnings per share for the current fiscal year.

Extra Space Storage Dividend Announcement

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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $6.48 dividend on an annualized basis and a yield of 4.7%. Extra Space Storage’s dividend payout ratio (DPR) is currently 143.05%.

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.