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. (EXR), a leading self-storage REIT, provides investors and industry observers with timely updates through this comprehensive news hub. Track official announcements, financial disclosures, and strategic developments from one of the largest operators in the U.S. storage sector.
This resource consolidates EXR's earnings reports, facility expansions, and partnership announcements, offering stakeholders efficient access to material information. Users will find updates on property acquisitions, third-party management contracts, and operational innovations that drive the company's performance in competitive real estate markets.
Key categories include quarterly financial results, dividend declarations, sustainability initiatives, and leadership updates. All content is sourced directly from company filings and verified press releases to ensure reliability. Bookmark this page for streamlined monitoring of EXR's market movements and corporate milestones within the evolving self-storage landscape.
Extra Space Storage reported strong Q1 2025 results with net income of $1.28 per share, up 26.7% year-over-year. The company's Core FFO reached $2.00 per share, marking a 2.0% increase from 2024.
Key performance metrics include:
- Same-store revenue increased 0.3%
- Same-store occupancy improved to 93.4% from 92.4% last year
- Acquired 12 operating stores for $153.8 million
- Expanded management platform to 2,114 total managed stores
- Paid quarterly dividend of $1.62 per share
CEO Joe Margolis noted a solid first quarter that exceeded revenue expectations. The company maintained its same-store guidance despite economic uncertainty. Notable transactions include a $100 million investment in Strategic Storage Growth Trust III convertible preferred stock and the sale of 11 operating properties. The company's debt profile shows 78.8% fixed-rate debt with a combined weighted average interest rate of 4.4%.
Extra Space Storage (NYSE: EXR) has scheduled its Q1 2025 earnings release and conference call. The company will release its financial results for the quarter ended March 31, 2025, on Tuesday, April 29, 2025 after market close.
A conference call will be held on Wednesday, April 30, 2025 at 1:00 p.m. Eastern Time, featuring CEO Joe Margolis and CFO Scott Stubbs. The Q&A session will be restricted to registered financial analysts, while other participants will have listen-only access.
Participants can join via webcast through the company's investor relations website or pre-register for a special dial-in number. A replay will be available from April 30, 2025, at 5:00 p.m. ET for one year on the investor relations website.
Extra Space Storage (NYSE: EXR) has announced the pricing of $500 million in senior notes due 2035 through its operating partnership. The notes carry a 5.400% interest rate, priced at 99.830% of principal amount, and will mature on June 15, 2035.
The offering, expected to close around March 19, 2025, is being managed by multiple financial institutions including BofA Securities, TD Securities, and Truist Securities as joint book-running managers. The notes will be fully guaranteed by Extra Space and certain subsidiaries.
The company plans to use the net proceeds to repay outstanding amounts on its lines of credit and commercial paper program, while also maintaining flexibility for potential acquisition opportunities and general corporate purposes.
Extra Space Storage (NYSE:EXR) has reached a significant milestone of operating over 4,000 stores nationwide, more than doubling its store count since 2021. The company now manages 4,011 stores across 42 states and Washington, D.C., covering 98 of the 100 largest U.S. metro markets.
The storage giant's portfolio comprises 2.8 million units spanning 308 million square feet of rentable space. In 2024, they added 297 stores to their platform. The property ownership structure includes:
- 49% wholly owned properties
- 12% joint venture partnerships
- 39% managed through ManagementPlus platform
Currently serving 2.4 million customers with over 8,000 team members, Extra Space Storage has earned recognition as a top workplace, recently ranking in the top 25 of Forbes 'America's Best Companies' 2025 list.
Extra Space Storage (NYSE: EXR) reported its Q4 and full-year 2024 results, with Q4 net income reaching $1.24 per diluted share, up 21.6% year-over-year. The company's Q4 Core FFO was $2.03 per diluted share, showing a 0.5% increase.
Key operational metrics showed mixed performance, with same-store revenue declining 0.4% and NOI decreasing 3.5% in Q4. However, ending same-store occupancy improved to 93.7% from 92.5% year-over-year.
Strategic growth initiatives included:
- Acquisition of 38 operating stores for $359.7 million in Q4
- Increased joint venture partnership stakes to 49% for $251.2 million
- Originated $224.4 million in bridge loans
- Added 130 stores to third-party management platform
- Initiated $1.0 billion commercial paper program
The company maintained its quarterly dividend at $1.62 per share and expects a challenging but slowly improving operating environment in 2025.
Extra Space Storage (NYSE: EXR) has announced its dividend payment for the first quarter of 2025. The company's board of directors has declared a quarterly dividend of $1.62 per share on common stock. Shareholders who are recorded as stockholders at the close of business on March 14, 2025, will receive the dividend payment on March 31, 2025.
Extra Space Storage (NYSE:EXR) has released its tax allocation details for 2024 dividend distributions on common stock. The company distributed a total of $6.48 per share throughout 2024, paid in four equal quarterly installments of $1.62 per share.
The distributions breakdown includes: $6.328823 as Ordinary Dividend, of which $1.179667 qualified as Qualified Dividend, $0.151177 as Capital Gain Distribution, $0.062120 as Unrecaptured Section 1250 Gain, and $5.149156 as Section 199A Dividend. Of the Capital Gain Distribution, 90.42% is excluded under Treas. Reg. §1.1061-4(b)(7), while 9.58% is classified as a Three-Year Amount.
Extra Space Storage (NYSE: EXR) has scheduled its Q4 and full-year 2024 earnings release for February 25, 2025, after market close. The company will host a conference call on February 26, 2025 at 1:00 p.m. Eastern Time to discuss the financial results.
CEO Joe Margolis and CFO Scott Stubbs will lead the call, which will include an operating performance review and a Q&A session to registered financial analysts. Other participants will have listen-only access. The earnings call will be accessible via webcast on the company's investor relations website, with pre-registration available to avoid delays.
A replay of the webcast will be available from February 26, 2025, at 5:00 p.m. ET and remain accessible for one year. The complete earnings report and supplemental data will be published on the company's investor relations website following the earnings release.
Extra Space Storage (NYSE: EXR) has announced the pricing of an additional $350 million of 5.500% senior notes due 2030. These notes will be combined with previously issued $450 million notes under the same terms. The notes were priced at 101.509% of principal value and will mature on July 1, 2030.
The offering, expected to close around January 22, 2025, is being managed by multiple financial institutions including Wells Fargo Securities, PNC Capital Markets , and US Bancorp as joint book-running managers. The notes will be guaranteed by Extra Space and certain subsidiaries.
The company plans to use the net proceeds to repay outstanding amounts on its lines of credit and commercial paper program, as well as for general corporate purposes and potential acquisitions.
Extra Space Storage announced the pricing of a $300 million add-on offering of 5.700% senior notes due 2028. The notes will be combined with previously issued $500 million notes under the same terms. Priced at 102.857% of principal amount, the notes will mature on April 1, 2028. The offering, expected to close around December 5, 2024, involves multiple financial institutions as joint book-running managers and co-managers. The company plans to use the proceeds to repay credit line amounts and for general corporate purposes, including potential acquisitions.
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