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. (NYSE: EXR) is a fully integrated self-storage REIT headquartered in Salt Lake City, Utah and a member of the S&P 500 index. This news page aggregates company-specific updates drawn from official press releases and regulatory disclosures, giving readers a focused view of developments affecting EXR stock and the Extra Space Storage platform.
According to its public statements, Extra Space Storage is the largest operator of self-storage properties in the United States, owning and/or operating thousands of facilities under the Extra Space brand. News about the company frequently covers quarterly earnings results, including metrics such as funds from operations (FFO), Core FFO, same-store revenues, net operating income (NOI) and occupancy levels. These releases also highlight acquisition activity, joint venture buyouts, development completions and changes in the company’s bridge loan portfolio.
Investors following EXR can also expect capital markets and financing news, such as announcements of senior note offerings, amendments to unsecured credit facilities and updates on available borrowing capacity. The company’s 2025 disclosures include details of an $800 million senior notes offering due 2033 and a fourth amended and restated credit agreement providing for a multi-billion-dollar unsecured credit facility.
Another recurring theme in Extra Space Storage’s news is dividend declarations and corporate governance updates. The company issues press releases when its board declares quarterly dividends on common stock, and when it schedules earnings release dates and conference calls. Leadership and organizational changes, including executive promotions and planned successions, are also reported through news releases and related Form 8-K filings.
By monitoring this EXR news feed, readers can review historical and ongoing announcements about operating performance, portfolio growth, financing activities and management developments that the company has chosen to disclose publicly.
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Extra Space Storage (NYSE: EXR) will announce its financial results for Q1 2023 on May 2, 2023, after market close. A conference call to discuss these results is scheduled for May 3, 2023, at 1:00 p.m. ET, featuring CEO Joe Margolis and CFO Scott Stubbs. The call will review operating performance and recent events, with a Q&A session limited to registered analysts. The earnings report will be available on the company’s investor relations website immediately after the market closes on May 2. This event is significant for investors seeking insights into the company’s recent performance and future outlook.
On April 3, 2023, Extra Space Storage (NYSE: EXR) announced its definitive merger agreement with Life Storage (NYSE: LSI), creating the largest storage operator in the U.S. The all-stock transaction values Life Storage at approximately $145.82 per share, totaling a pro forma equity market cap of around $36 billion and an enterprise value of $47 billion. Shareholders will own 65% and 35% of the combined entity. This merger aims to enhance operational synergies, expand portfolio size by over 50%, and generate at least $100 million in annual savings. The deal is expected to close in the second half of 2023.
Extra Space Storage Inc. (NYSE:EXR) announced a public offering of $500 million in 5.700% senior notes due 2028, priced at 99.823% of the principal amount. The offering is expected to close around March 28, 2023, subject to customary conditions. The proceeds will be used for potential acquisitions, repaying credit lines, and general corporate purposes. Joint book-running managers include J.P. Morgan and PNC Capital Markets LLC. As of December 31, 2022, Extra Space operated 2,338 self-storage properties, positioning it as the second-largest self-storage operator in the U.S.
Extra Space Storage Inc. (NYSE: EXR) reported its operating results for Q4 and the year ending December 31, 2022. The company achieved net income attributable to common stockholders of $1.52 per diluted share, a 24% decrease year-over-year, primarily due to a prior year's gain on real estate transactions. However, funds from operations (FFO) increased to $2.09 per diluted share, up 9.4%. Same-store revenue and net operating income rose by 11.8% and 13.4%, respectively. The company acquired 145 operating stores for $1.4 billion and managed a total of 1,205 stores. A quarterly dividend of $1.50 per share was paid. The outlook for 2023 projects Core FFO between $8.30 and $8.60.
Extra Space Storage Inc. (NYSE: EXR) has declared a first quarter 2023 dividend of $1.62 per share, reflecting an 8% increase from the previous quarter. This dividend is scheduled for payment on March 31, 2023 to shareholders of record as of March 15, 2023. The company operates 2,338 self-storage properties, totaling 1.6 million units and 176.1 million square feet of storage space across the U.S., making it the second-largest self-storage operator in the country.
Extra Space Storage Inc. (NYSE: EXR) announced the tax allocations of its 2022 dividend distributions. The total distribution per share for the year is $6.00, with an ordinary dividend per share of $5.894046. Key dates include the ex-dividend date on 03/14/2022, record date on 03/15/2022, and payable date on 03/31/2022. Shareholders are encouraged to consult tax advisors regarding the implications of these distributions in their tax filings. The information is based on preliminary tax results and may be subject to adjustments.
Extra Space Storage Inc. (NYSE: EXR) plans to release its financial results for Q4 and the full year ending December 31, 2022, on February 22, 2023, post-market. A conference call is scheduled for February 23, 2023, at 1:00 p.m. ET, featuring CEO Joe Margolis and CFO Scott Stubbs to discuss the results. The call will be accessible live via the company's investor relations website, with a playback option available after the event. Extra Space Storage, based in Salt Lake City, operates the second largest self-storage network in the U.S., managing over 2,327 properties and approximately 175.1 million square feet of storage space.
LEX has launched an IPO for The Landing at One Chestnut, an industrial building in Nashua, New Hampshire, following its successful 286 Lenox IPO in Harlem, New York. This 430,804 square foot facility is strategically located near Boston, boasting low industrial vacancy rates. The property is well-leased with over 50 tenants, including Extra Space Storage, which occupies over 57% of the space and has a 30-year tenancy. Investors can benefit from tax advantages and the potential for cash distributions, with shares trading on the secondary market following the offering period.