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.
Overview
Extra Space Storage Inc. (EXR) is a fully integrated, self-administered, and self-managed real estate investment trust operating in the US self-storage market. With a diverse portfolio spanning nearly 4,000 facilities in multiple states, the company provides secure, well-located storage units for residential, commercial, and specialized storage needs such as boat, RV, and business storage. The depth and scale of its operations are reflected in its strategic blend of wholly owned properties, carefully structured joint ventures, and third-party management arrangements.
Business Model and Revenue Generation
The company generates revenue primarily through rental income from its expansive network of storage facilities. In addition to traditional rental operations, Extra Space Storage earns management fees by operating self-storage assets owned by third-party investors. Supplementary revenue streams include income from bridge loans and insurance programs, which collectively diversify its revenue profile. The consistent demand for storage space in both urban and suburban markets positions the company as a resilient contributor within the commercial real estate space.
Operational Excellence and Management
Extra Space Storage's effective operations stem from a seasoned management team and a dedicated workforce that emphasizes innovation and customer service. Every role, from executive management to on-site facility teams, contributes to the company’s ability to maintain high occupancy levels and operational efficiency. The clear focus on strategic asset management, continuous process improvements, and prudent cost management has solidified its reputation as a trusted operator in the self-storage industry.
Market Position and Industry Significance
In a highly competitive real estate sector, Extra Space Storage distinguishes itself through its extensive geographical footprint and integrated operating model. The company is renowned for its ability to cater to a wide spectrum of customer needs by offering tailored storage solutions. Leveraging its expansive portfolio and strong industry partnerships, Extra Space Storage plays a critical role in the broader commercial real estate market. Industry aficionados and potential investors value the company’s robust scale, diverse revenue channels, and consistent performance metrics, which underscore its established market position.
Property Portfolio and Strategic Partnerships
Extra Space Storage’s vast and varied property portfolio includes facilities that are strategically located near high-traffic commercial areas and retail centers. By combining wholly owned properties with assets managed through joint ventures and third-party arrangements, the company effectively mitigates risk while optimizing asset utilization. Its strong relationships with stakeholders, partners, and investors are a cornerstone of its operational success, enabling it to efficiently expand and upgrade its portfolio in response to market demands.
Industry Keywords and Insights
Key industry terms such as self-storage, REIT, and property management are interwoven throughout the company’s operating model. These keywords not only strengthen the SEO profile of the description but also reflect the company’s core competencies. The integration of these terms alongside detailed operational insights demonstrates a deep understanding of the market dynamics and competitive pressures inherent within the self-storage and broader real estate sector.
Frequently Asked Questions
What is Extra Space Storage Inc.'s core business?
Extra Space Storage primarily focuses on owning, operating, and managing self-storage facilities across the United States, offering a range of secure storage solutions for various customer segments.How does the company generate its revenue?
The company generates revenue through rental income, management fees from third-party properties, and ancillary income from services such as bridge lending and insurance programs.What distinguishes Extra Space Storage in the self-storage industry?
Its extensive portfolio, integrated operating model, and strategic partnerships enable it to deliver reliable and innovative storage solutions across a diverse geographic footprint.How is the company structured in terms of property ownership?
Extra Space Storage operates a mix of wholly owned properties, joint ventures, and properties managed on behalf of third-party owners, providing a diversified asset base.What types of storage services are offered?
The company offers a variety of storage options including standard storage units, climate-controlled units, and specialized storage for boats, RVs, and commercial items.How does Extra Space Storage maintain operational efficiency?
A dedicated management team, operational innovation, and rigorous cost control measures ensure high occupancy and efficient facility operations across its portfolio.How is the company positioned within the competitive landscape?
With its extensive geographic reach and integrated revenue streams, Extra Space Storage is well-regarded in the self-storage sector, providing strong operational performance that appeals to both customers and investors.
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.
FAQ
What is the current stock price of Extra Space Storage (EXR)?
What is the market cap of Extra Space Storage (EXR)?
What is Extra Space Storage Inc.'s core business?
How does the company generate revenue?
What types of storage options are available?
How is Extra Space Storage structured in terms of property ownership?
What operational strategies contribute to its success?
How does the company differentiate itself in the market?
What are the key industry terms associated with the company?
