Extra Space Storage, Inc. (NYSE:EXR) was the recipient of unusually large options trading on Tuesday. Investors purchased 1,096 put options on the company. This is an increase of approximately 1,007% compared to the typical volume of 99 put options.

Extra Space Storage (NYSE:EXR) traded down $1.44 on Wednesday, hitting $81.14. The stock had a trading volume of 1,056,878 shares, compared to its average volume of 1,204,596. Extra Space Storage has a 12 month low of $71.34 and a 12 month high of $88.56. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $10,181.43, a PE ratio of 29.83, a price-to-earnings-growth ratio of 3.33 and a beta of 0.26.

Extra Space Storage announced that its board has authorized a stock repurchase plan on Monday, November 13th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

In other Extra Space Storage news, SVP Grace Kunde sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $87.65, for a total transaction of $30,677.50. Following the completion of the sale, the senior vice president now owns 11,209 shares of the company’s stock, valued at $982,468.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Overturf sold 880 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $82.88, for a total value of $72,934.40. Following the sale, the executive vice president now directly owns 79,935 shares of the company’s stock, valued at approximately $6,625,012.80. The disclosure for this sale can be found here. Insiders have sold 22,530 shares of company stock valued at $1,920,550 in the last ninety days. Company insiders own 3.72% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of EXR. APG Asset Management N.V. boosted its position in shares of Extra Space Storage by 2,889.7% in the third quarter. APG Asset Management N.V. now owns 1,035,556 shares of the real estate investment trust’s stock valued at $82,762,000 after acquiring an additional 1,000,919 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Extra Space Storage by 65.1% in the third quarter. JPMorgan Chase & Co. now owns 2,178,691 shares of the real estate investment trust’s stock valued at $172,290,000 after acquiring an additional 859,212 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Extra Space Storage by 59.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,209,113 shares of the real estate investment trust’s stock valued at $193,186,000 after acquiring an additional 823,278 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Extra Space Storage by 66.1% in the third quarter. Russell Investments Group Ltd. now owns 770,381 shares of the real estate investment trust’s stock valued at $61,558,000 after purchasing an additional 306,650 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Extra Space Storage by 92.0% in the fourth quarter. American Century Companies Inc. now owns 562,732 shares of the real estate investment trust’s stock valued at $49,211,000 after purchasing an additional 269,603 shares in the last quarter.

A number of equities research analysts have issued reports on EXR shares. BMO Capital Markets reaffirmed a “hold” rating and set a $78.00 target price on shares of Extra Space Storage in a research report on Thursday, November 2nd. Zacks Investment Research cut Extra Space Storage from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Royal Bank of Canada upped their target price on Extra Space Storage from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 14th. Cantor Fitzgerald upped their target price on Extra Space Storage from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, November 9th. Finally, Morgan Stanley raised Extra Space Storage from an “underweight” rating to an “equal weight” rating and set a $83.00 target price for the company in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $86.42.

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About Extra Space Storage

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

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