United States

Core FFO (TTM)

Core FFO/share (TTM)

Core FFO/share Guidance

Core FFO (Quarter)

Core FFO/share (Quarter)

Price/Core FFO

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, owns and/or operates over 1,850 self-storage properties in 43 states, Washington, D.C. and Puerto Rico. The Company's properties comprise approximately 1,010,000 units and over 585M square feet of rentable storage space, offering customers a wide selection of affordable and conveniently located and secure storage solutions across the country, including personal storage, boat storage, RV storage and business storage. We are committed to being the most convenient, secure and professional storage solution in your neighborhood. And it is this commitment which has allowed Extra Space Storage to become the second largest storage units operator in the U.S. with over 1,800 properties across the country.

Extra Space Storage

If the REIT is managed by an internal (employees) or external (separate company) team

Year: 2019

Years since IPO: 15/15,
Core FFO Growth: 15/15,
Core FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 8/15
            

Year: 2020

Years since IPO: 15/15,
Core FFO Growth: 15/15,
Core FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 0/15
            

Year: 2021

Years since IPO: 15/15,
Core FFO Growth: 15/15,
Core FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 8/15
            

Year: 2022

Years since IPO: 15/15,
Core FFO Growth: 15/15,
Core FFO/share Growth: 20/20,
Dividend Growth: 20/20,
Payout Ratio: 15/15,
Debt: 3/15
            

Year: 2023

Years since IPO: 15/15,
Core FFO Growth: 15/15,
Core FFO/share Growth: 15/20,
Dividend Growth: 15/20,
Payout Ratio: 15/15,
Debt: 12/15
            

Year: 2024

Years since IPO: 15/15,
Core FFO Growth: 15/15,
Core FFO/share Growth: 15/20,
Dividend Growth: 18/20,
Payout Ratio: 15/15,
Debt: 15/15
            

Years since IPO

Analysis of the recent Core FFO performance

Core FFO Growth

Analysis of the recent Core FFO per share performance

Core FFO/share Growth

Analysis of the recent Dividend track record

Dividend Growth

Payout level to determine if the dividend is safe

Payout Ratio

Debt analysis that uses Debt/Assets and Debt/EBITDA to determine if leverage levels are under control

Debt

U.S. equity markets advanced for a second week while benchmark interest rates retreated from five-month highs after a critical slate of employment data showed a long-awaited cooldown in hiring trends. Foreshadowed by "dovish" remarks from Fed Chair Powell at the FOMC's policy meeting, payrolls data showed that job growth slowed to six-month lows while wage growth cooled to three-year lows. Following its best week since November, the S&P 500 advanced 0.6%, while bonds caught a bid this week across the yield and maturity curve.

The Labor Downshift

Extra Space Storage is my preferred REIT investment due to its strong performance and ability to deliver long-term value. Despite industry headwinds, EXR has maintained occupancy rates and implemented effective revenue strategies, demonstrating resilience. EXR offers a solid dividend yield of 4.6% and has growth potential in the self-storage industry.

I'm Betting On 5%-Yielding Extra Space Storage To Grow My Wealth

There are two types of REITs: COWs (Cash Only Wanted) that focus on high dividend yield, and FROGs (Fast Rate of Growth) that prioritize maximizing total return. Higher yield usually means lower gain, and vice versa, so investors generally have to choose between the two. This article lists 13 REITS that have grown Funds From Operations at double-digit rates, maintain ample liquidity, and have outperformed the average REIT over the past 3 years.

13 Fast-Growing REITs With Strong Balance Sheets

Extra Space Storage Inc. (NYSE:EXR ) Q1 2024 Earnings Conference Call May 1, 2024 1:00 PM ET Company Participants Jared Conley - Vice President of Investor Relations Joe Margolis - Chief Executive Officer Scott Stubbs - Executive Vice President & Chief Financial Officer Conference Call Participants Michael Goldsmith - UBS Jeff Spector - Bank of America Eric Wolfe - Citi Nick Yulico - Scotiabank Juan Sanabria - BMO Capital Markets Samir Khanal - Evercore ISI Keegan Carl - Wolfe Research Spenser Allaway - Green Street Caitlin Burrows - Goldman Sachs Ronald Kamdem - Morgan Stanley Eric Luebchow - Wells Fargo Michael Mueller - JPMorgan Omotayo Okusanya - Deutsche Bank Ki Bin Kim - Truist Operator Good day, and thank you for standing by. Welcome to the First Quarter 2024 Extra Space Storage Earnings Conference Call.

Extra Space Storage Inc. (EXR) Q1 2024 Earnings Call Transcript

Extra Space Storage's (EXR) Q1 results reflect higher occupancy. However, higher same-store operating expenses and increased interest expenses act as a spoilsport.

Extra Space Storage (EXR) Q1 FFO Tops Estimates, Occupancy Rises

The headline numbers for Extra Space Storage (EXR) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Extra Space Storage (EXR) Q1 Earnings: A Look at Key Metrics

Extra Space Storage (EXR) came out with quarterly funds from operations (FFO) of $1.96 per share, beating the Zacks Consensus Estimate of $1.95 per share. This compares to FFO of $2.02 per share a year ago.

Extra Space Storage (EXR) Q1 FFO and Revenues Top Estimates

SALT LAKE CITY , April 30, 2024 /PRNewswire/ -- Extra Space Storage Inc. (NYSE: EXR) (the "Company"), a leading owner and operator of self-storage facilities in the United States and a constituent of the S&P 500, announced operating results for the three months ended March 31, 2024. Highlights for the three months ended March 31, 2024: Achieved net income attributable to common stockholders of $1.01 per diluted share, representing a 30.8% decrease compared to the same period in the prior year primarily due to non-cash interest and amortization of intangibles related to the Company's 2023 merger (the "Life Storage Merger") with Life Storage, Inc. ("Life Storage" or "LSI").

Extra Space Storage Inc. Reports 2024 First Quarter Results

Get a deeper insight into the potential performance of Extra Space Storage (EXR) for the quarter ended March 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

Stay Ahead of the Game With Extra Space Storage (EXR) Q1 Earnings: Wall Street's Insights on Key Metrics

REITs are today presenting a once-in-a-decade buying opportunity. Valuations are so low that even private equity players are buying them. Here are two of my favorite REITs to buy today.

2 Once-In-A-Decade REIT Buying Opportunities

REITs are historically cheap right now. But not all REITs are worth buying. Here are 5 types of REITs to avoid in 2024.

Sell Alert: 5 Worst REIT Categories To Buy In 2024

The self-storage sector is oversupplied, resulting in a drop in street rents and a decline in occupancy. Extra Space Storage Inc. is a potential short candidate due to its recent merger at the top of the market and negative growth outlook. The oversupply in the sector is expected to worsen with more supply in the pipeline, leading to increased competition and lower rental rates.

Extra Space Storage: Oversupply And Reduced Demand Are Taking A Toll

10 Dividend Growth Stocks: March 2024

Filling out a perfect bracket for the NCAA's March Madness tournament is extremely unlikely, with odds of 1 in 9.22 quintillion. Real estate investment trusts offer better odds for making money compared to March Madness brackets. I provide a list of REITs from various sectors that show promise for future profits.

My 'Sweet 16' REITs Revealed

SALT LAKE CITY, March 28, 2024 /PRNewswire/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) announced today it will release financial results for the three months ended March 31, 2024 on Tuesday, April 30, 2024 after the market closes. The Company will host a conference call at 1:00 p.m.

Extra Space Storage Inc. Announces Date of Earnings Release and Conference Call to Discuss 1st Quarter 2024 Results

Some property sectors are in trouble due to oversupply, which is causing rents and property values to decline. Moreover, capital remains expensive and a wave of debt maturities is looming. Here's what this means for REITs and other commercial real estate stocks.

Bad News For REITs: 8 Troubling Takeaways For Real Estate

Achieving 30,000 followers on Seeking Alpha was unexpected, and I want to thank everyone for their trust and support! In light of rising inflation and market uncertainty, I advocate for long-term investments in undervalued value stocks. By focusing on sectors like energy, real estate, and healthcare, investors can navigate market challenges and aim for strong returns and income.

30,000 Followers Special - Here's How I Would Invest $30,000 In Today's Market

Pacer Industrial Real Estate ETF (INDS) is a concentrated play on industrial REITs, focusing on warehouses and self-storage facilities.

INDS: Focused Industrial REIT With Higher Total Return Potential But Somewhat Risky

SALT LAKE CITY , APRIL 30, 2024 /PRNEWSWIRE/ -- EXTRA SPACE STORAGE INC. (NYSE: EXR) (THE "COMPANY"), A LEADING OWNER AND OPERATOR OF SELF-STORAGE FACILITIES IN THE UNITED STATES AND A CONSTITUENT OF THE S&P 500, ANNOUNCED OPERATING RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2024. HIGHLIGHTS FOR THE THREE MONTHS ENDED MARCH 31, 2024: ACHIEVED NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $1.01 PER DILUTED SHARE, REPRESENTING A 30.8% DECREASE COMPARED TO THE SAME PERIOD IN THE PRIOR YEAR PRIMARILY DUE TO NON-CASH INTEREST AND AMORTIZATION OF INTANGIBLES RELATED TO THE COMPANY'S 2023 MERGER (THE "LIFE STORAGE MERGER") WITH LIFE STORAGE, INC. ("LIFE STORAGE" OR "LSI").

EXTRA SPACE STORAGE INC. REPORTS 2024 FIRST QUARTER RESULTS

SALT LAKE CITY, MARCH 28, 2024 /PRNEWSWIRE/ -- EXTRA SPACE STORAGE INC. (THE "COMPANY") (NYSE: EXR) ANNOUNCED TODAY IT WILL RELEASE FINANCIAL RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2024 ON TUESDAY, APRIL 30, 2024 AFTER THE MARKET CLOSES. THE COMPANY WILL HOST A CONFERENCE CALL AT 1:00 P.M.

EXTRA SPACE STORAGE INC. ANNOUNCES DATE OF EARNINGS RELEASE AND CONFERENCE CALL TO DISCUSS 1ST QUARTER 2024 RESULTS

SALT LAKE CITY , FEB. 27, 2024 /PRNEWSWIRE/ --EXTRA SPACE STORAGE INC. (NYSE:EXR) (THE "COMPANY"), A LEADING OWNER AND OPERATOR OF SELF-STORAGE FACILITIES IN THE UNITED STATES AND A CONSTITUENT OF THE S&P 500, ANNOUNCED OPERATING RESULTS FOR THE THREE MONTHS AND YEAR ENDED DECEMBER 31, 2023. HIGHLIGHTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2023: ACHIEVED NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $1.02 PER DILUTED SHARE, REPRESENTING A 32.9% DECREASE COMPARED TO THE SAME PERIOD IN THE PRIOR YEAR, PRIMARILY DUE TO $30.6 MILLION IN TRANSITION COSTS, NON-CASH INTEREST AND AMORTIZATION OF INTANGIBLES RELATED TO THE LIFE STORAGE MERGER (AS DEFINED BELOW).

EXTRA SPACE STORAGE INC. REPORTS 2023 FOURTH QUARTER AND YEAR-END RESULTS

SALT LAKE CITY , FEB. 22, 2024 /PRNEWSWIRE/ --EXTRA SPACE STORAGE INC.(THE "COMPANY") (NYSE: EXR) ANNOUNCED TODAY THAT THE COMPANY'S BOARD OF DIRECTORS HAS DECLARED A FIRST QUARTER 2024 DIVIDEND OF $1.62 PER SHARE ON THE COMMON STOCK OF THE COMPANY. THE DIVIDEND IS PAYABLE ON MARCH 29, 2024 TO STOCKHOLDERS OF RECORD AT THE CLOSE OF BUSINESS ON MARCH 15, 2024.

EXTRA SPACE STORAGE INC. ANNOUNCES 1ST QUARTER 2024 DIVIDEND

SALT LAKE CITY , JAN. 26, 2024 /PRNEWSWIRE/ --EXTRA SPACE STORAGE INC. (THE "COMPANY") (NYSE: EXR) ANNOUNCED TODAY IT WILL RELEASE FINANCIAL RESULTS FOR THE THREE MONTHS AND YEAR ENDED DECEMBER 31, 2023 ON TUESDAY, FEBRUARY 27, 2024 AFTER THE MARKET CLOSES. THE COMPANY WILL HOST A CONFERENCE CALL AT 1:00 P.M.

EXTRA SPACE STORAGE INC. ANNOUNCES DATE OF EARNINGS RELEASE AND CONFERENCE CALL TO DISCUSS 4TH QUARTER AND YEAR-END 2023 RESULTS

SALT LAKE CITY , JAN. 25, 2024 /PRNEWSWIRE/ --EXTRA SPACE STORAGE INC. (NYSE:EXR) (THE "COMPANY") ANNOUNCED TODAY THE TAX ALLOCATIONS OF THE COMPANY'S 2023 DIVIDEND DISTRIBUTIONS ON ITS COMMON STOCK. THE ALLOCATIONS, AS THEY WILL BE REPORTED ON FORM 1099-DIV, ARE AS FOLLOWS FOR EXR COMMON SHARES CUSIP# 30225T102: EXTRA SPACE STORAGE INC. EX-DIVIDEND DATE RECORD DATE PAYABLE DATE TOTAL DISTRIBUTION PER SHARE ORDINARY DIVIDEND PER SHARE (BOX 1A) QUALIFIED DIVIDENDPER SHARE (BOX 1B) CAPITAL GAIN DISTRIBUTION PER SHARE (BOX 2A)1 UNRECAPTURED  SECTION 1250 GAIN PER SHARE (BOX 2B) SECTION 199A DIVIDEND PER SHARE (BOX 5) SECTION 897 CAPITAL GAIN PER SHARE (BOX 2F) 03/14/2023 03/15/2023 03/31/2023 $1.620000 $1.545827 $0.126835 $0.074173 $0.000000 $1.418991 $0.074173 06/14/2023 06/15/2023 06/30/2023 $1.620000 $1.545827 $0.126835 $0.074173 $0.000000 $1.418991 $0.074173 07/12/2023 07/13/2023 07/19/2023 $1.010000 $0.963756 $0.079076 $0.046244 $0.000000 $0.884680 $0.046244 09/14/2023 09/15/2023 09/29/2023 $0.610000 $0.582071 $0.047759 $0.027929 $0.000000 $0.534312 $0.027929 12/14/2023 12/15/2023 12/29/2023 $1.620000 $1.545827 $0.126835 $0.074173 $0.000000 $1.418991 $0.074173 TOTALS $6.480000 $6.183307 $0.507342 $0.296693 $0.000000 $5.675965 $0.296693 OF THE TOTAL CAPITAL GAIN DISTRIBUTION IN BOX 2A, 100.00% IS EXCLUDED UNDERTREAS.

EXTRA SPACE STORAGE INC. ANNOUNCES TAX REPORTING INFORMATION FOR 2023 DISTRIBUTIONS AND LIFE STORAGE, INC.'S 2023 DISTRIBUTIONS

SALT LAKE CITY , JAN. 16, 2024 /PRNEWSWIRE/ -- EXTRA SPACE STORAGE INC. ("EXTRA SPACE") (NYSE: EXR), A LEADING OWNER AND OPERATOR OF SELF-STORAGE FACILITIES IN THE UNITED STATES AND A MEMBER OF THE S&P 500, TODAY ANNOUNCED THAT ITS OPERATING PARTNERSHIP, EXTRA SPACE STORAGE LP (THE "OPERATING PARTNERSHIP"), HAS PRICED A PUBLIC OFFERING OF $600 MILLION AGGREGATE PRINCIPAL AMOUNT OF 5.400% SENIOR NOTES DUE 2034 (THE "NOTES"). THE NOTES WERE PRICED AT 99.745% OF THE PRINCIPAL AMOUNT AND WILL MATURE ON FEBRUARY 1, 2034.

EXTRA SPACE ANNOUNCES PRICING OF $600 MILLION OF 5.400% SENIOR NOTES DUE 2034

SALT LAKE CITY , NOV. 27, 2023 /PRNEWSWIRE/ -- EXTRA SPACE STORAGE INC. ("EXTRA SPACE") (NYSE:EXR), A LEADING OWNER AND OPERATOR OF SELF-STORAGE FACILITIES IN THE UNITED STATES AND A MEMBER OF THE S&P 500, TODAY ANNOUNCED THAT ITS OPERATING PARTNERSHIP, EXTRA SPACE STORAGE LP (THE "OPERATING PARTNERSHIP"), HAS PRICED A PUBLIC OFFERING OF $600 MILLION AGGREGATE PRINCIPAL AMOUNT OF 5.900% SENIOR NOTES DUE 2031 (THE "NOTES"). THE NOTES WERE PRICED AT 99.712% OF THE PRINCIPAL AMOUNT AND WILL MATURE ON JANUARY 15, 2031.

EXTRA SPACE ANNOUNCES PRICING OF $600 MILLION OF 5.900% SENIOR NOTES DUE 2031

SALT LAKE CITY , NOV. 15, 2023 /PRNEWSWIRE/ -- EXTRA SPACE STORAGE INC.(THE "COMPANY") (NYSE: EXR) ANNOUNCED TODAY THAT THE COMPANY'S BOARD OF DIRECTORS HAS DECLARED A FOURTH QUARTER 2023 DIVIDEND OF $1.62 PER SHARE ON THE COMMON STOCK OF THE COMPANY. THE DIVIDEND IS PAYABLE ON DECEMBER 29, 2023 TO STOCKHOLDERS OF RECORD AT THE CLOSE OF BUSINESS ON DECEMBER 15, 2023.

EXTRA SPACE STORAGE INC. ANNOUNCES 4TH QUARTER 2023 DIVIDEND

SALT LAKE CITY , NOV. 7, 2023 /PRNEWSWIRE/ -- EXTRA SPACE STORAGE INC. (NYSE: EXR) (THE "COMPANY"), A LEADING OWNER AND OPERATOR OF SELF-STORAGE FACILITIES IN THE UNITED STATES AND A CONSTITUENT OF THE S&P 500, ANNOUNCED OPERATING RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2023. HIGHLIGHTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2023: ACHIEVED NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS OF $0.96 PER DILUTED SHARE, REPRESENTING A 41.8% DECREASE COMPARED TO THE SAME PERIOD IN THE PRIOR YEAR, PRIMARILY DUE TO $54.2 MILLION IN TRANSITION COSTS RELATED TO THE LIFE STORAGE MERGER (AS DEFINED BELOW).

Extra Space Storage

EXR

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Financials Overview

Financials Overview

Financial Reports

No items found.

Diversification by Property Type

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EXR