Extra Space Storage Inc. (NYSE:EXR) Stock Position Raised by AQR Capital Management LLC

AQR Capital Management LLC lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR - Free Report) by 302.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 167,706 shares of the real estate investment trust's stock after buying an additional 126,018 shares during the period. AQR Capital Management LLC owned 0.08% of Extra Space Storage worth $24,817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in shares of Extra Space Storage during the 4th quarter worth approximately $25,000. Harbour Investments Inc. increased its position in Extra Space Storage by 90.9% in 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 during the period. Quent Capital LLC lifted its stake in 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 acquired a new position in shares of Extra Space Storage during the fourth quarter valued at $52,000. Finally, Quarry LP grew its position in shares of 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. Institutional investors and hedge funds own 99.11% of the company's stock.

Extra Space Storage Price Performance

Extra Space Storage stock traded up $0.80 during mid-day trading on Friday, hitting $148.23. The company's stock had a trading volume of 115,291 shares, compared to its average volume of 1,050,958. Extra Space Storage Inc. has a twelve month low of $121.03 and a twelve month high of $184.87. The stock's fifty day moving average price is $143.90 and its two-hundred day moving average price is $152.86. The stock has a market capitalization of $31.46 billion, a P/E ratio of 38.80, a P/E/G ratio of 7.76 and a beta of 1.14. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.77.

Extra Space Storage (NYSE:EXR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.00 earnings per share (EPS) 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 company had revenue of $820.00 million for the quarter, compared to analyst estimates of $705.12 million. During the same period in the previous year, the firm earned $1.96 earnings per share. Extra Space Storage's revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts forecast that Extra Space Storage Inc. will post 8.1 earnings per share for the current year.

Extra Space Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.62 per share. 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 4.37%. Extra Space Storage's dividend payout ratio is currently 150.35%.

Insider Buying and Selling at Extra Space Storage

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

Wall Street Analyst Weigh In

EXR has been the topic of several recent research reports. StockNews.com upgraded shares of Extra Space Storage from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of Extra Space Storage in a research report on Thursday, March 6th. Wells Fargo & Company lowered their target price on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Friday, February 21st. Barclays reduced their price target on Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada lowered their price target on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $165.42.

About Extra Space Storage

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.