Extra Space Storage Inc. (NYSE:EXR) was down 5.5% during mid-day trading on Thursday . The stock traded as low as $84.45 and last traded at $85.00, with a volume of 2,134,253 shares. The stock had previously closed at $89.90.

Several equities research analysts have recently issued reports on EXR shares. Zacks Investment Research upgraded shares of Extra Space Storage from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research note on Wednesday, March 30th. Royal Bank Of Canada raised their price objective on shares of Extra Space Storage from $88.00 to $94.00 and gave the stock an “outperform” rating in a research note on Monday, May 9th. BMO Capital Markets restated a “buy” rating on shares of Extra Space Storage in a research note on Tuesday, May 17th. Cantor Fitzgerald restated a “hold” rating on shares of Extra Space Storage in a research note on Sunday, May 22nd. Finally, Jefferies Group raised their price objective on shares of Extra Space Storage from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Extra Space Storage currently has an average rating of “Hold” and a consensus price target of $90.37.

The firm has a market capitalization of $10.77 billion and a price-to-earnings ratio of 48.52. The stock’s 50-day moving average price is $90.52 and its 200-day moving average price is $89.10.

Extra Space Storage (NYSE:EXR) last posted its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The business earned $244.30 million during the quarter, compared to the consensus estimate of $213.32 million. During the same quarter last year, the company posted $0.75 EPS. The firm’s revenue was up 31.4% on a year-over-year basis. Equities analysts predict that Extra Space Storage Inc. will post $3.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Monday, June 13th. This is a boost from Extra Space Storage’s previous quarterly dividend of $0.59.

In related news, SVP Grace Kunde sold 1,700 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $89.47, for a total value of $152,099.00. Following the sale, the senior vice president now owns 7,008 shares in the company, valued at approximately $627,005.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Spencer Kirk sold 20,000 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $86.06, for a total value of $1,721,200.00. Following the completion of the transaction, the chief executive officer now directly owns 734,430 shares in the company, valued at $63,205,045.80. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently modified their holdings of EXR. Ameritas Investment Partners Inc. raised its position in shares of Extra Space Storage by 1.1% in the fourth quarter. Ameritas Investment Partners Inc. now owns 18,633 shares of the real estate investment trust’s stock worth $1,644,000 after buying an additional 211 shares in the last quarter. Quantitative Investment Management LLC raised its position in shares of Extra Space Storage by 29.9% in the fourth quarter. Quantitative Investment Management LLC now owns 19,100 shares of the real estate investment trust’s stock worth $1,684,000 after buying an additional 4,400 shares in the last quarter. Utah Retirement Systems raised its position in shares of Extra Space Storage by 0.4% in the fourth quarter. Utah Retirement Systems now owns 24,306 shares of the real estate investment trust’s stock worth $2,144,000 after buying an additional 100 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in shares of Extra Space Storage by 7.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 31,138 shares of the real estate investment trust’s stock worth $2,747,000 after buying an additional 2,040 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of Extra Space Storage by 9.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 35,760 shares of the real estate investment trust’s stock worth $3,154,000 after buying an additional 2,940 shares in the last quarter.

Extra Space Storage Inc is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, acquires, develops and redevelops professionally managed self-storage properties (stores). The Company operates through three segments: rental operations; tenant reinsurance, and property management, acquisition and development.

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