Extra Space Storage Inc. Announces Tax Reporting Information for 2024 Distributions

Rhea-AI Summary

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.

Positive

• Consistent quarterly dividend payments of $1.62 per share throughout 2024
• Total annual dividend distribution of $6.48 per share
• High proportion of distributions qualify as Section 199A dividends ($5.149156 per share)

Negative

• None.

News Market Reaction

+2.61%

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+2.61% News Effect

On the day this news was published, EXR gained 2.61%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SALT LAKE CITY, Jan. 24, 2025 /PRNewswire/ -- Extra Space Storage Inc. (NYSE:EXR) (the "Company") announced today the tax allocations of the Company's 2024 dividend distributions on its common stock. The allocations, as they will be reported on Form 1099-DIV, are as follows for common shares CUSIP# 30225T102:

Ex- Dividend Date	Record Date	Payable Date	Total Distribution Per Share	Ordinary Dividend Per Share (Box 1a)	Qualified Dividend  Per 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)
03/14/2024	03/15/2024	03/29/2024	$1.620000	$1.582206	$0.294917	$0.037794	$0.015530	$1.287289	$0.037794
06/14/2024	06/14/2024	06/28/2024	$1.620000	$1.582206	$0.294917	$0.037794	$0.015530	$1.287289	$0.037794
09/16/2024	09/16/2024	09/30/2024	$1.620000	$1.582206	$0.294917	$0.037794	$0.015530	$1.287289	$0.037794
12/16/2024	12/16/2024	12/31/2024	$1.620000	$1.582206	$0.294917	$0.037794	$0.015530	$1.287289	$0.037794
		Totals	$6.480000	$6.328823	$1.179667	$0.151177	$0.062120	$5.149156	$0.151177

1.

Of the Total Capital Gain Distribution in box 2a, 90.42% is excluded under Treas. Reg. §1.1061-4(b)(7). The remaining 9.58% is a Three-Year Amount under Treas. Reg. §1.1061-6(c).

This release is based on the preliminary results of work on the Company's tax filings and may be subject to correction or adjustment when the filings are completed. The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company's distributions. No material change in the classification is expected.

Stockholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Company distributions.

About Extra Space Storage Inc.
Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500.  As of September 30, 2024, the Company owned and/or operated 3,862 self-storage properties, which comprise approximately 2.7 million units and approximately 296.0 million square feet of rentable storage space operating under the Extra Space, Life Storage and Storage Express brands. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States.

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SOURCE Extra Space Storage, Inc.

FAQ

What was Extra Space Storage's (EXR) total dividend distribution per share in 2024?

Extra Space Storage's total dividend distribution for 2024 was $6.48 per share, paid in four quarterly installments of $1.62 each.

How much of EXR's 2024 distributions qualified as ordinary dividends?

Of the total distributions, $6.328823 per share was classified as ordinary dividends, with $1.179667 qualifying as qualified dividends.

What portion of EXR's 2024 dividend was classified as Capital Gain Distribution?

The Capital Gain Distribution portion was $0.151177 per share, with 90.42% excluded under Treas. Reg. §1.1061-4(b)(7).

What were the payment dates for EXR's quarterly dividends in 2024?

EXR paid dividends on March 29, June 28, September 30, and December 31, 2024.

How much of EXR's 2024 dividend qualified as Section 199A dividends?

The Section 199A dividend amount was $5.149156 per share for 2024.