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Extra Space Storage, Inc. (NYSE: EXR) is a major player in the self-storage industry, acclaimed as the second-largest operator of self-storage facilities in the United States. Established in 1977 and headquartered in Salt Lake City, the company has expanded its footprint to encompass nearly 3,700 properties across 42 states, offering a diverse range of secure and convenient storage solutions that include boat, RV, and business storage.
Extra Space Storage is fully integrated as a real estate investment trust (REIT) and boasts a vast portfolio exceeding 280 million net rentable square feet. About half of their properties are wholly owned, while the other half is managed through joint ventures or third-party management arrangements.
Committed to growth and innovation, the company has been aggressive in its acquisitions, adding $1.6 billion in new assets in 2015 alone. Recent milestones include the successful merger with Life Storage in 2023, significantly expanding their operational capabilities and portfolio value. This merger is expected to generate substantial synergies, further optimizing pricing and marketing strategies.
Financially, Extra Space Storage remains robust, consistently delivering solid operating results and maintaining a healthy balance sheet. As of the end of 2023, the company managed over 1,800 stores for third-party owners, making it the largest self-storage management company in the country.
The company places a strong emphasis on partnerships, leveraging successful collaborations with stakeholders, partners, investors, and customers to propel its mission. This focus is underpinned by an impassioned and dedicated workforce that values innovation and satisfaction in their career paths.
Extra Space Storage also maintains an active bridge lending program, with significant loan origination and sales activities, complementing its core business operations. Capital allocations are strategically managed, including routine public bond offerings to support corporate and working capital needs.
The company’s operational prowess is further evidenced by high occupancy rates and consistent same-store revenue growth. For instance, same-store occupancy averaged 94.4% in the third quarter of 2023. They continue to explore new avenues for growth while maintaining strong financial health and delivering shareholder value through consistent dividend payouts.
Extra Space Storage Inc. (NYSE: EXR) will release its financial results for the year ended December 31, 2021, on February 23, 2022. A conference call is scheduled for February 24, 2022, at 1:00 p.m. ET, hosted by CEO Joe Margolis and CFO Scott Stubbs. During the call, they will discuss the company's operating performance and answer questions from registered analysts. The earnings report will be available on the company’s website immediately after the release. This call marks an important opportunity for investors to gauge the company's financial health and growth prospects.
Extra Space Storage Inc. (NYSE: EXR) has declared a quarterly dividend of $1.25 per share for Q4 2021, payable on December 31, 2021. Stockholders on record by December 15, 2021 will receive the dividend, reflecting the company's commitment to returning value to shareholders. Headquartered in Salt Lake City, Extra Space Storage operates 2,054 self-storage properties across the U.S., making it the second-largest in the country. The company continues to bolster investor confidence with consistent dividend payments.
Extra Space Storage Inc. (NYSE: EXR) reported substantial growth in Q3 2021, with net income reaching $1.40 per diluted share, a 59.1% increase year-over-year. Funds from operations (FFO) rose 41.2% to $1.85 per diluted share. Same-store revenue and net operating income (NOI) surged by 18.4% and 27.8%, respectively. The company acquired 10 operating stores and 4 newly constructed stores for approximately $198 million. Additionally, it paid a quarterly dividend of $1.25 per share, reflecting a 25% increase. Total managed stores reached 1,088, solidifying its position as a leader in self-storage management.
Extra Space Storage Inc. (NYSE: EXR) will release its financial results for Q3 2021 on October 27, 2021, after market close. A conference call led by CEO Joe Margolis and CFO Scott Stubbs is scheduled for October 28, 2021, at 1:00 p.m. ET. This call will cover operating performance and recent events, with a Q&A session for registered financial analysts. Interested parties can listen in via phone or the company website, where a replay will be available for 30 days. Extra Space Storage operates 1,973 self-storage properties across the U.S.
Extra Space Storage Inc. (NYSE:EXR) announced reaching a milestone of 800 managed properties through its ManagementPlus platform, which constitutes about 40% of its facilities. This achievement coincides with the company being recognized as the Best Third-Party Management Company in the 2021 Inside Self Storage reader-choice poll. In 2021, Extra Space added over 100 stores to its platform and aims to manage a total of approximately 200 by year-end, serving over 500,000 customers across more than 60 million net rentable square feet.
Extra Space Storage Inc. (NYSE: EXR) announced the pricing of $600 million in 2.350% senior notes due 2032, priced at 99.797% of the principal amount. The offering, set to close on September 22, 2021, will be utilized for acquisitions, debt repayment, and general corporate purposes. The notes are guaranteed by Extra Space and certain subsidiaries, contributing to its solid financial position as a leading self-storage operator in the U.S. Currently, Extra Space manages nearly 2,000 properties, making it the second largest in the country.
Extra Space Storage Inc. (NYSE: EXR) declared a quarterly dividend of $1.25 per share for Q3 2021, marking a 25% increase from the previous quarter. This dividend is scheduled for payment on September 30, 2021, to stockholders of record by September 15, 2021. The company, headquartered in Salt Lake City, is a leading self-storage REIT, owning and operating 1,973 properties with approximately 152.6 million square feet of rentable space across the U.S.
Extra Space Storage Inc. (NYSE: EXR) reported robust Q2 2021 results, with a net income per diluted share of $1.25, a 56.3% increase year-over-year. Funds from operations (FFO) also grew 33.3% to $1.64 per share. The company achieved a 13.6% rise in same-store revenue and a 20.2% increase in same-store net operating income. Occupancy reached 97%, up from 94.2% a year prior. Extra Space acquired 22 operating stores for $332.4 million and raised $450 million through a bond offering. A dividend of $1.00 per share was paid, reflecting strong financial health and growth outlook.
Extra Space Storage (NYSE: EXR) reaches a milestone by onboarding its 2,000th property, doubling its store count since 2013. The company operates over 2,000 stores across 40 states and Washington, D.C., providing 1.4 million units and 156 million square feet of rentable space. In 2020, it invested over $900 million in growth. Of the 2,000 stores, 53% are wholly owned, 7% are joint ventures, and 40% are managed for independent owners. CEO Joe Margolis emphasized the company’s stability and the exceptional performance of its 4,000+ employees.
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