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. reports news as a self-administered and self-managed REIT focused on self-storage properties in the United States. The company owns, operates and manages stores under the Extra Space brand, including storage units for personal use, boat storage, RV storage and business storage.
Recurring company updates include quarterly and annual operating results, FFO and Core FFO reconciliations, same-store revenue and expense metrics, dividend declarations and tax reporting for distributions. News also covers portfolio activity, third-party management, joint ventures, and governance or leadership changes tied to its REIT structure.
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.
Extra Space Storage Inc. (NYSE: EXR) has received a Baa2 issuer credit rating with a stable outlook from Moody's Investors Service. This marks a key milestone in the company’s financial strategy, enhancing its capacity for future growth, according to CFO Scott Stubbs. The company previously held a BBB rating from S&P Global Ratings. Moody's cited Extra Space's significant scale, profitability, experienced management, and diversified portfolio as credit strengths. The rating is subject to change and does not imply a recommendation for investors.
Extra Space Storage Inc. (NYSE: EXR) will announce its financial results for Q4 and the year ending December 31, 2020, on February 22, 2021, post-market. A conference call hosted by CEO Joe Margolis and CFO Scott Stubbs is set for 1:00 p.m. ET on February 23, 2021. The meeting will review operational performance and recent events, with a Q&A segment for registered financial analysts. The earnings report and supplementary data will be available on the company's website immediately after the earnings release.
Extra Space Storage Inc. (NYSE:EXR) announced tax allocations for its 2020 dividend distributions. The total distribution per share is $3.60, with an ordinary dividend of $3.501724. Key dates include an ex-dividend date of March 13, 2020, a record date of March 16, 2020, and a payable date of March 31, 2020. The release indicates that these allocations will appear on Form 1099-DIV and suggests shareholders consult tax advisors for individual tax implications. The company emphasizes that no material changes in the classification are expected following tax filings.
NexPoint has launched NexPoint Storage Partners, a dedicated real estate investment platform focusing on the self-storage sector, following its acquisition of Jernigan Capital. The new platform's investments total approximately $1.1 billion across 69 self-storage facilities, with a significant emphasis on Generation V facilities in major U.S. markets. Former Jernigan CEO John Good leads this endeavor, supported by a strong partnership with Extra Space Storage, which made a $300 million equity investment, and J.P. Morgan, providing $512 million in financing.