Welcome to our dedicated page for Extra Space Storage news (Ticker: EXR), a resource for investors and traders seeking the latest updates and insights on Extra Space Storage stock.
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) reported Q1 2022 results with a net income of $1.51 per diluted share, a 1.3% decrease from the prior year, impacted by a $63.9 million gain in 2021. Funds from operations (FFO) grew by 34.0% to $2.01 per share. Same-store revenue rose 21.7%, while net operating income (NOI) increased by 27.6%. The occupancy rate fell to 94.5%. The company acquired 14 operating stores for approximately $225 million and paid a boosted dividend of $1.50 per share, up 20% from the last quarter. Future growth aims for same-store revenue growth of 13% to 15%.
Extra Space Storage Inc. (NYSE: EXR) announced that it will release its financial results for the first quarter of 2022 on May 3, 2022, after market close. A conference call discussing these results will take place on May 4, 2022, at 1:00 p.m. ET, led by CEO Joe Margolis and CFO Scott Stubbs. The call will include an overview of operating performance and a Q&A session for registered financial analysts. The earnings report will be accessible on the Company’s website following the release.
Extra Space Storage Inc. (NYSE: EXR) announced the pricing of a public offering of $400 million in 3.900% senior notes due April 1, 2029. The notes were priced at 99.885% of the principal amount and are expected to close by March 31, 2022, subject to standard conditions. Proceeds will fund acquisition opportunities, repay outstanding debt, and support general corporate purposes. The offering is managed by several financial institutions, and the notes are guaranteed by Extra Space and its subsidiaries.
Extra Space Storage (NYSE: EXR) reported strong Q4 2021 results with a net income of $2.00 per diluted share, a 68.1% increase year-over-year. Funds from operations (FFO) reached $1.91 per share, reflecting a 29.1% growth. The company increased same-store revenue by 18.3% and net operating income by 24.2%. Over the year, net income was $6.19 per share, also up 66.8%. The company acquired 63 operating stores costing approximately $1.1 billion and sold 17 stores, gaining $76.9 million. A quarterly dividend of $1.25 per share was paid.
Extra Space Storage Inc. has declared a quarterly dividend of $1.50 per share for Q1 2022, marking a 20% increase from the previous quarter and a 50% increase year-over-year. This dividend is payable on March 31, 2022 to shareholders on record as of March 15, 2022. The company operates 2,096 self-storage properties with approximately 1.5 million units, making it the second-largest self-storage operator in the U.S.
Extra Space Storage Inc. (NYSE: EXR) has announced the tax allocations for its 2021 dividend distributions. The ex-dividend date is March 12, 2021, with a record date of March 15, 2021, and payment on March 31, 2021. The total distribution per share is $4.500000, consisting of ordinary dividends, qualified dividends, and capital gain distributions, with varying amounts. The company advises shareholders to consult their tax advisors for specific tax treatment. This information is preliminary and may be subject to adjustments upon final tax filing.
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.
FAQ
What is the current stock price of Extra Space Storage (EXR)?
What is the market cap of Extra Space Storage (EXR)?
What does Extra Space Storage, Inc. do?
When was Extra Space Storage founded?
How many properties does Extra Space Storage manage?
What recent merger did Extra Space Storage complete?
What is the company's approach to financial management?
How does Extra Space Storage support its growth?
What types of storage solutions does Extra Space Storage offer?
What is the significance of Extra Space Storage's bridge lending program?
How does Extra Space Storage ensure high occupancy rates?
What dividends does Extra Space Storage pay to its shareholders?
