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

The Manufacturers Life Insurance Company acquired a new stake in Extra Space Storage Inc (NYSE:EXR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 117,291 shares of the real estate investment trust’s stock, valued at approximately $17,042,000. The Manufacturers Life Insurance Company owned approximately 0.06% of Extra Space Storage at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EXR. Nomura Asset Management Co. Ltd. boosted its position in shares of Extra Space Storage by 2.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 391,044 shares of the real estate investment trust’s stock valued at $50,922,000 after acquiring an additional 9,492 shares in the last quarter. Norges Bank acquired a new position in Extra Space Storage in the fourth quarter worth about $1,219,606,000. Harbour Investments Inc. raised its position in Extra Space Storage by 15,978.4% in the fourth quarter. Harbour Investments Inc. now owns 8,200 shares of the real estate investment trust’s stock worth $1,068,000 after purchasing an additional 8,149 shares in the last quarter. Manning & Napier Advisors LLC lifted its stake in Extra Space Storage by 3,007.7% during the fourth quarter. Manning & Napier Advisors LLC now owns 40,089 shares of the real estate investment trust’s stock worth $5,220,000 after purchasing an additional 38,799 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Extra Space Storage by 54.8% during the first quarter. SG Americas Securities LLC now owns 292,159 shares of the real estate investment trust’s stock worth $38,311,000 after purchasing an additional 103,443 shares during the period. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Extra Space Storage news, EVP Gwyn Goodson Mcneal sold 3,300 shares of the business’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 owned 37,374 shares of the company’s stock, valued at approximately $5,606,100. The trade was a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Extra Space Storage Price Performance

Shares of Extra Space Storage stock opened at $142.93 on Friday. The stock has a market capitalization of $30.20 billion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 4.10 and a beta of 1.18. The firm’s 50-day moving average price is $147.18 and its two-hundred day moving average price is $143.95. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.96. 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 posted its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 earnings per share. Extra Space Storage has set its FY 2026 guidance at 8.250-8.400 EPS. On average, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 4.5%. Extra Space Storage’s payout ratio is presently 143.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Truist Financial upped their price objective on Extra Space Storage from $140.00 to $148.00 and gave the company a “hold” rating in a research note on Wednesday, June 17th. The Goldman Sachs Group restated a “neutral” rating and set a $160.00 target price on shares of Extra Space Storage in a research report on Thursday, July 30th. Raymond James Financial assumed coverage on Extra Space Storage in a research note on Thursday, July 16th. They issued an “outperform” rating and a $44.00 price target on the stock. Weiss Ratings upgraded Extra Space Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada increased their price objective on Extra Space Storage from $153.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $149.20.

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.