Extra Space Storage Inc SEC Filings

Extra Space Storage (EXR) CEO and director Joseph D. Margolis reported a Form 4 transaction. On 11/06/2025, he made a bona fide gift of 7,692 shares of common stock (transaction code G) at a reported price of $0.

After the transaction, reported beneficial holdings were: 12,068 shares indirectly via J Margolis & K Margolis TTEE; 84,385 shares directly; 97,260 shares indirectly via Cove Hollow Lane I, LLC; and 9,190 shares indirectly via Cove Hollow Lane II, LLC. The filing notes that the reporting person controls investment decisions for Cove Hollow Lane I, LLC and disclaims beneficial ownership in the LLC holdings except to the extent of his pecuniary interest.

Extra Space Storage Inc. reported Q3 2025 results showing steady revenue growth with pressure on earnings. Total revenues were $858.5 million, up from $824.8 million a year ago, driven by higher property rental revenue of $735.6 million and tenant reinsurance of $90.3 million. Net income attributable to common stockholders was $166.0 million and diluted EPS was $0.78, down from $0.91, reflecting higher expenses and larger losses on assets held for sale and sold.

Operating trends were mixed. Property operations expenses rose to $235.5 million, and the company recorded a $105.1 million quarterly loss on real estate assets held for sale and sold. For the nine months, net income attributable to common stockholders reached $686.6 million with EPS of $3.23, aided by interest income of $124.6 million and lower depreciation versus last year. Cash from operations was strong at $1.48 billion year-to-date.

EXR continued portfolio reshaping: 46 stores acquired year-to-date (including full ownership of 27 JV properties) and six properties obtained through a JV interest exchange. The balance sheet shows $29.23 billion in assets, 83.8% fixed-rate debt, and a combined weighted average interest rate of 4.4%. The revolving credit facility was upsized to $3.0 billion and extended to August 2029. Shares outstanding were 212,247,580 as of October 27, 2025.

Extra Space Storage Inc. furnished a Form 8-K noting it issued a press release with financial results for the three and nine months ended September 30, 2025.

The press release is included as Exhibit 99.1, and the company states the information is being furnished and not deemed “filed” under Section 18 of the Exchange Act. The cover page Inline XBRL data is identified as Exhibit 104.

Extra Space Storage Inc. (EXR) filing of Form 144 notifies the market of a proposed sale of 7,500 shares of common stock through Morgan Stanley Smith Barney LLC, with an aggregate market value of $1,057,050. The securities were acquired as restricted stock awards on 02/22/2023, and the approximate date of sale is listed as 10/01/2025. The filing shows 212,253,611 shares outstanding for the issuer. No securities were reported sold in the past three months. The filer affirms they are not aware of undisclosed material adverse information.

William N. Springer, EVP, Chief S & P Officer of Extra Space Storage Inc. (EXR), reported a single transaction dated 09/11/2025. The filing shows a non-derivative disposition of 295 shares of Common Stock on that date under transaction code G at a reported price of $0. After the reported transaction, Mr. Springer is shown as directly owning 19,725 shares. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 09/15/2025. The filing provides name and address details for the reporting person and confirms this is a Form filed by one reporting person.

Extra Space Storage, Inc. disclosed key terms of a Credit Agreement for its Operating Partnership that set specific leverage and coverage requirements and identify participating lenders and sales agents. The agreement requires total indebtedness to asset value not to exceed 60% (up to 65% temporarily after a material acquisition); secured debt to asset value not to exceed 40%; adjusted EBITDA to fixed charges of at least 1.50x; and unsecured debt to unencumbered asset value not to exceed 60% (up to 65% temporarily after a material acquisition).

The Credit Agreement contains standard events of default including payment defaults, covenant breaches, cross-defaults and bankruptcy defaults, and allows acceleration of all outstanding amounts if a default persists. The filing also identifies multiple banks and securities firms as lenders and equity sales agents, and notes that the full Credit Agreement is filed as an exhibit and governs the complete terms.

Extra Space Storage LP, a subsidiary of Extra Space Storage Inc., completed an underwritten public offering of $800,000,000 aggregate principal amount of 4.950% Senior Notes due January 15, 2033. The Notes are the Issuer's senior unsecured obligations and are fully and unconditionally guaranteed by the Company, ESS Holdings Business Trust I and ESS Holdings Business Trust II.

The public offering price was 99.739% of principal. Interest accrues at 4.950% per annum, payable each January 15 and July 15 beginning January 15, 2026. The Notes rank equally with other senior unsecured indebtedness but are effectively subordinated to mortgage and other secured indebtedness and to indebtedness of the Issuer's subsidiaries and equity-method entities. The Indenture includes covenants limiting additional indebtedness and requiring a pool of unencumbered assets, and permits issuer redemptions with a make-whole premium (100% redemption price applies on or after November 15, 2032). The Indenture, supplemental indenture, form of Notes and legal opinions are filed as exhibits.

Extra Space Storage LP, the operating partnership of Extra Space Storage Inc. (NYSE: EXR), has filed a Rule 424(b)(5) preliminary prospectus to market a new series of senior unsecured notes due 20--, fully and unconditionally guaranteed by the parent and two holding trusts. Size, coupon and maturity are still placeholders, but the notes will pay interest semi-annually, carry an issuer make-whole call prior to the par-call date and be redeemable at par thereafter. The securities rank pari-passu with the partnership’s existing US-$8.6 bn senior unsecured notes and are structurally subordinated to US-$1.1 bn secured notes, US-$1.9 bn term loans, US-$700 m commercial paper and subsidiary liabilities.

Estimated net proceeds of “$--- m” will be used to pay down the US-$2.0 bn unsecured revolver (US-$655 m drawn at 5.27 %), the US-$140 m secured revolver (US-$21 m drawn at 5.74 %) and outstanding CP, with any remainder earmarked for acquisitions and general corporate purposes. Key indenture covenants restrict: (i) total debt ≤60 % of total assets; (ii) secured debt ≤40 % of total assets; (iii) EBITDA/interest ≥1.5×; and (iv) unencumbered assets ≥150 % of unsecured debt. There is no change-of-control put and no exchange listing is planned, leaving liquidity to the dealer market. As of 30 Jun 2025, EXR controlled or managed 4,179 self-storage facilities and held a 95.6 % OP interest.