Balyasny Asset Management L.P. Purchases New Shares in Extra Space Storage Inc. (NYSE:EXR)

Balyasny Asset Management L.P. purchased a new position in Extra Space Storage Inc. (NYSE:EXR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 718,270 shares of the real estate investment trust's stock, valued at approximately $107,453,000. Balyasny Asset Management L.P. owned 0.34% of Extra Space Storage at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in shares of Extra Space Storage during the fourth quarter worth approximately $25,000. Harbour Investments Inc. grew its holdings in shares of Extra Space Storage by 90.9% during the fourth quarter. Harbour Investments Inc. now owns 168 shares of the real estate investment trust's stock worth $25,000 after buying an additional 80 shares in the last quarter. Quent Capital LLC raised its position in shares of Extra Space Storage by 89.0% in the fourth quarter. Quent Capital LLC now owns 327 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 154 shares during the last quarter. Asset Planning Inc purchased a new position in shares of Extra Space Storage in the fourth quarter worth about $52,000. Finally, Quarry LP boosted its position in Extra Space Storage by 156.1% during the fourth quarter. Quarry LP now owns 356 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 99.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EXR shares. Scotiabank raised shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and decreased their target price for the stock from $165.00 to $149.00 in a research note on Wednesday, April 9th. Evercore ISI upped their target price on Extra Space Storage from $144.00 to $149.00 and gave the company an "in-line" rating in a report on Thursday, May 1st. Wells Fargo & Company reduced their price target on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a report on Friday, February 21st. Mizuho assumed coverage on shares of Extra Space Storage in a report on Wednesday, April 9th. They issued an "outperform" rating and a $141.00 price objective for the company. Finally, StockNews.com raised shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $165.42.

Insider Transactions at Extra Space Storage

In related news, EVP William N. Springer sold 1,220 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $152.66, for a total value of $186,245.20. Following the transaction, the executive vice president now directly owns 20,158 shares of the company's stock, valued at $3,077,320.28. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph J. Bonner sold 672 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $149.10, for a total transaction of $100,195.20. Following the completion of the sale, the director now directly owns 4,557 shares of the company's stock, valued at approximately $679,448.70. This trade represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,392 shares of company stock valued at $1,392,315. Corporate insiders own 1.36% of the company's stock.

Extra Space Storage Trading Up 1.2 %

Shares of EXR stock traded up $1.76 on Friday, hitting $149.19. The stock had a trading volume of 232,033 shares, compared to its average volume of 1,051,454. The company's 50 day moving average price is $143.90 and its 200-day moving average price is $152.86. Extra Space Storage Inc. has a 1 year low of $121.03 and a 1 year high of $184.87. The firm has a market capitalization of $31.66 billion, a P/E ratio of 39.06, a P/E/G ratio of 7.76 and a beta of 1.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.23 and a quick ratio of 0.23.

Extra Space Storage (NYSE:EXR - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.04. Extra Space Storage had a return on equity of 5.51% and a net margin of 25.35%. The business had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same quarter in the prior year, the company earned $1.96 earnings per share. The company's revenue was up 2.6% on a year-over-year basis. Analysts anticipate that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.34%. Extra Space Storage's payout ratio is currently 150.35%.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.