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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 (NYSE: EXR) will release its financial results for the second quarter of 2021 on July 27, 2021, after market close. A conference call is scheduled for July 28, 2021, at 1:00 PM ET, featuring CEO Joe Margolis and CFO Scott Stubbs. The call will discuss operating performance and recent developments, with a Q&A segment limited to registered financial analysts. The earnings report will be available on the company's Investor Relations website immediately following the release.
Extra Space Storage Inc. (NYSE: EXR) has declared a quarterly dividend of $1.00 per share for the second quarter of 2021. This dividend will be paid on June 30, 2021 to stockholders on record as of the close of business on June 15, 2021. As of March 31, 2021, the Company operates 1,969 self-storage properties with approximately 1.4 million units available across the U.S., making it the second-largest self-storage operator in the country.
Extra Space Storage Inc. (NYSE: EXR) has announced the pricing of a public offering of $450 million in 2.550% senior notes due June 1, 2031. Priced at 99.849%, the offering is expected to close around May 11, 2021. Proceeds will be used for acquisitions, repayment of credit lines, and general corporate needs. The notes will be fully guaranteed by Extra Space and its subsidiaries. The offering is registered with the SEC, and a prospectus will be available for potential investors.
Extra Space Storage Inc. (NYSE: EXR) reported strong Q1 2021 results with net income rising to $1.53 per diluted share, an 84.3% increase year-over-year. Funds from operations (FFO) reached $1.50, a 21.0% increase. Same-store revenue grew by 4.6%, while net operating income (NOI) rose by 6.5%. The company achieved a record occupancy of 95.7% and expanded its footprint by acquiring nine stores for $148.4 million. A quarterly dividend of $1.00 per share was paid out, representing an 11.1% increase from the previous quarter.
Extra Space Storage Inc. (NYSE: EXR) will release its financial results for Q1 2021 on April 28, 2021, post-market. A conference call is scheduled for April 29, 2021, at 1:00 p.m. ET, led by CEO Joe Margolis and CFO Scott Stubbs. The call will review operating performance and recent events, featuring a Q&A for financial analysts. Earnings report details will be available on their website post-release. As of March 31, 2021, the company manages 1,969 storage properties in the U.S., totaling approximately 153.4 million square feet of rentable space.
Extra Space Storage Inc. (NYSE: EXR) announced a public offering of 1,600,000 shares of its common stock, aiming for gross proceeds of approximately $207.7 million. Citigroup and Wells Fargo Securities are joint book-running managers for the offering, which is expected to close around March 23, 2021. The proceeds will fund acquisitions, pay down credit lines, and cover general corporate expenses. The offered shares are under an effective shelf registration statement with the SEC, and the underwriters hold a 30-day option for an additional 240,000 shares.
Extra Space Storage Inc. (NYSE: EXR) announced a public offering of 1,600,000 shares of common stock, with an additional 240,000 shares available for underwriters. The offering, managed by Citigroup and Wells Fargo Securities, aims to fund acquisitions, repay credit lines, and for general corporate purposes. The shares will be issued under an effective shelf registration statement, and the release clarifies it does not constitute a sale offer. As of December 31, 2020, Extra Space operated 1,921 self-storage properties across the U.S.
Extra Space Storage (NYSE: EXR) reported strong Q4 2020 results, achieving net income of $1.19 per diluted share, a 38.4% increase year-over-year. Funds from operations (FFO) were $1.48 per share, marking a 16.5% rise. Full-year net income increased by 14.5% to $3.71 per diluted share, despite a slight decline in same-store revenue by 0.1%. The company acquired 21 stores worth $253.7 million and completed transactions totaling $350 million in preferred stock investments. Occupancy rates reached 94.8%. A quarterly dividend of $0.90 was paid, with a planned increase to $1.00 for Q1 2021.
Extra Space Storage Inc. (EXR) announced a quarterly dividend of $1.00 per share for Q1 2021, reflecting an 11.1% increase from the previous quarter. This dividend is payable on March 31, 2021 to stockholders on record by March 15, 2021. The company, headquartered in Salt Lake City, operates 1,921 self-storage properties across the U.S. with approximately 1.4 million units available, making it the second largest self-storage provider in the country and the largest self-storage management company.
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