Extra Space Storage Inc. (NYSE:EXR) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC lifted its holdings in Extra Space Storage Inc. (NYSE:EXR - Free Report) by 302.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,706 shares of the real estate investment trust's stock after buying an additional 126,018 shares during the quarter. AQR Capital Management LLC owned approximately 0.08% of Extra Space Storage worth $24,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC boosted its stake in shares of Extra Space Storage by 34.4% during the third quarter. Tidal Investments LLC now owns 12,640 shares of the real estate investment trust's stock valued at $2,278,000 after purchasing an additional 3,234 shares during the period. Manning & Napier Advisors LLC raised its position in shares of Extra Space Storage by 1,127.2% in the 4th quarter. Manning & Napier Advisors LLC now owns 781,986 shares of the real estate investment trust's stock worth $116,985,000 after acquiring an additional 718,266 shares in the last quarter. Vert Asset Management LLC boosted its holdings in shares of Extra Space Storage by 8.0% in the 4th quarter. Vert Asset Management LLC now owns 93,473 shares of the real estate investment trust's stock valued at $13,984,000 after buying an additional 6,910 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Extra Space Storage by 134.3% in the 4th quarter. Pacer Advisors Inc. now owns 167,735 shares of the real estate investment trust's stock worth $25,093,000 after purchasing an additional 96,136 shares in the last quarter. Finally, Brentview Investment Management LLC purchased a new stake in Extra Space Storage in the fourth quarter valued at about $2,852,000. 99.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on EXR. Barclays lowered their price objective on shares of Extra Space Storage from $184.00 to $181.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company decreased their price objective on Extra Space Storage from $170.00 to $165.00 and set an "equal weight" rating for the company in a report on Friday, February 21st. Scotiabank upgraded shares of Extra Space Storage from a "sector perform" rating to a "sector outperform" rating and dropped their price target for the company from $165.00 to $149.00 in a research report on Wednesday, April 9th. Royal Bank of Canada reduced their target price on Extra Space Storage from $163.00 to $160.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Extra Space Storage in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average 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 business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $152.66, for a total value of $186,245.20. Following the sale, the executive vice president now owns 20,158 shares in the company, valued at approximately $3,077,320.28. The trade was a 5.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph D. Margolis sold 7,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $147.45, for a total value of $1,105,875.00. Following the transaction, the chief executive officer now owns 9,190 shares of the company's stock, valued at $1,355,065.50. This trade represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,392 shares of company stock worth $1,392,315. 1.36% of the stock is currently owned by insiders.

Extra Space Storage Trading Up 0.0 %

EXR stock traded up $0.02 during trading on Wednesday, reaching $147.24. 977,193 shares of the stock were exchanged, compared to its average volume of 1,053,796. 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 $31.25 billion, a price-to-earnings ratio of 38.54, a P/E/G ratio of 7.76 and a beta of 1.14. The business has a 50 day moving average price of $144.13 and a 200-day moving average price of $153.02. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.77.

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

Extra Space Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Friday, March 14th. Extra Space Storage's dividend payout ratio (DPR) is 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.