Core Insights - Extra Space Storage Inc. reported strong operating results for the year ended December 31, 2024, despite a challenging macro environment [4][6] - The company achieved a net income attributable to common stockholders of $1.24 per diluted share, a 21.6% increase year-over-year [6] - Core FFO per share was $2.03, reflecting a 0.5% increase compared to the previous year [6] Financial Performance - For the three months ended December 31, 2024, the company reported net income of $262.5 million, compared to $216.1 million in the same period of 2023 [5] - The company’s FFO for the year was $7.57 per diluted share, with Core FFO at $8.12 per diluted share, a 0.2% increase from the prior year [6] - Same-store revenue decreased by 0.4% while same-store net operating income (NOI) decreased by 3.5% year-over-year [6][9] Operational Highlights - The company maintained a same-store occupancy rate of 93.7% as of December 31, 2024, up from 92.5% a year earlier [6][9] - Extra Space Storage acquired 38 operating stores for approximately $359.7 million and increased ownership interest in two joint ventures to 49.0% for $251.2 million [6][12] - The company added 130 stores to its third-party management platform, managing a total of 2,035 stores as of December 31, 2024 [6][18] Investment Activities - The company originated $224.4 million in mortgage and mezzanine bridge loans during the quarter, with outstanding bridge loans totaling approximately $1.2 billion at year-end [17] - Extra Space Storage initiated an unsecured commercial paper program with a total capacity of $1.0 billion, having $500 million in outstanding issuances [21] - The company invested $100 million in convertible preferred stock of Strategic Storage Growth Trust III, Inc., with an 8.85% annual dividend rate [15] Balance Sheet and Debt Management - As of December 31, 2024, the company had total assets of approximately $28.8 billion, up from $27.5 billion a year earlier [38] - The percentage of fixed-rate debt to total debt was 75.8%, with a combined weighted average interest rate of 4.4% [22] - The company did not issue shares under its ATM program during the quarter and had $800 million available for issuance [19]

Company Overview - Extra Space Storage Inc. is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500 [2] - As of December 31, 2024, the Company owned and/or operated 4,011 self-storage properties, comprising approximately 2.8 million units and about 308.4 million square feet of rentable storage space [2] - The Company is the largest operator of self-storage properties in the United States, offering a wide selection of conveniently located and secure storage units, including boat storage, RV storage, and business storage [2] Dividend Announcement - The Company's board of directors declared a first quarter 2025 dividend of $1.62 per share on the common stock [1] - The dividend is payable on March 31, 2025, to stockholders of record at the close of business on March 14, 2025 [1]

Core Insights - Analysts project Extra Space Storage (EXR) to announce quarterly earnings of $2.02 per share, indicating no change year over year, with revenues expected to reach $831.54 million, reflecting a 4.2% increase from the same quarter last year [1] Earnings Estimates - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong relationship between earnings estimate revisions and short-term stock price performance [2] Key Metrics Forecast - Analysts forecast 'Property rental' revenue to reach $702.00 million, indicating a year-over-year change of +0.7% [4] - The estimate for 'Management and franchise fees' is projected at $30.05 million, suggesting a year-over-year decline of -1.1% [4] - The consensus estimate for 'Tenant insurance' stands at $83.50 million, indicating a significant year-over-year increase of +18.6% [4] - 'Depreciation and amortization' is expected to be $196.12 million, slightly down from the year-ago figure of $196.14 million [5] Stock Performance - Shares of Extra Space Storage have experienced a +2.5% change in the past month, compared to a +2.6% move of the Zacks S&P 500 composite, with a Zacks Rank 3 (Hold) indicating expected performance in line with the overall market [5]

Core Insights - The company focuses on helping individual investors achieve financial independence through strategic dividend investing [1][2] - The investment strategy emphasizes a straightforward approach: "Buy Low, Sell High, Get Paid to Wait," which has proven effective even in volatile markets [2] - Membership provides access to model portfolios tailored for different investing styles, all of which have outperformed the market since inception [3] Investment Strategy - The company offers three model portfolios designed for high yield, high growth, and balanced approaches [3] - Members receive exclusive analysis of 100 selected dividend stocks, along with weekly buy/watch/sell lists to aid decision-making [3] Community and Support - Membership includes access to a supportive community of dividend investors, fostering transparency and engagement [4] - The company aims to provide insights and support for both novice and experienced investors to help realize retirement goals [4] Membership Benefits - The company encourages potential members to join a free tier to explore its offerings before committing [5]

Company Overview - Extra Space Storage Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT) headquartered in Salt Lake City [3] - The company is a member of the S&P 500 and, as of September 30, 2024, owned and/or operated 3,862 self-storage properties, comprising approximately 2.7 million units and about 296.0 million square feet of rentable storage space [3] - It operates under the brands Extra Space, Life Storage, and Storage Express, offering a wide selection of conveniently located and secure storage units across the United States, including options for boat, RV, and business storage [3] - Extra Space Storage is the largest operator of self-storage properties in the United States [3] Dividend Distribution - The company announced the tax allocations for its 2024 dividend distributions on common stock, with a total distribution of $6.48 per share [1] - The breakdown of the dividend per share includes $1.620000 for each of the four quarterly distributions, with specific allocations for ordinary dividends, qualified dividends, and capital gains [1] - Of the total capital gain distribution, 90.42% is excluded under Treas. Reg. §1.1061-4(b)(7), while the remaining 9.58% is classified as a Three-Year Amount under Treas. Reg. §1.1061-6(c) [1]

Core Viewpoint - Extra Space Storage Inc. is set to release its financial results for the year ended December 31, 2024, on February 25, 2025, with a conference call scheduled for February 26, 2025, to discuss these results [1][2]. Financial Results Announcement - The financial results will be released after market close on February 25, 2025 [1]. - A conference call will be held on February 26, 2025, at 1:00 p.m. Eastern Time, featuring CEO Joe Margolis and CFO Scott Stubbs [1][2]. Conference Call Details - The conference call will include a review of operating performance, discussion of recent events, and a question-and-answer session limited to registered financial analysts [2]. - A live webcast of the conference call will be available on the company's investor relations page [3][4]. - Participants can pre-register for the call to receive a special dial-in number and PIN [3]. Playback and Additional Information - A replay of the conference call will be available on the investor relations website starting February 26, 2025, at 5:00 p.m. ET, and will remain accessible for one year [5]. - The full text of the earnings report and supplemental data will be available immediately after the earnings release [6]. Company Overview - Extra Space Storage Inc. is a fully integrated, self-administered, and self-managed real estate investment trust, and a member of the S&P 500 [7]. - As of September 30, 2024, the company owned and/or operated 3,862 self-storage properties, comprising approximately 2.7 million units and about 296.0 million square feet of rentable storage space [7]. - The company operates under the Extra Space, Life Storage, and Storage Express brands, offering a variety of storage solutions including boat, RV, and business storage [7].

Extra Space Storage Inc. (NYSE: EXR ) is a REIT that focuses on the self-storage business. Their main business is operations that own, manage, acquire, and develop self-storage properties. Extra Space Storage also provides insurance to tenantsI believe in fundamental analysis and disciplined market research. I have strong quant background with a Ph.D. (Chemical Engineering, University of California, Santa Barbara) in model predictive control and an MBA (Jones School of Business, Rice University). My primary ...

SALT LAKE CITY, Jan. 16, 2025 /PRNewswire/ -- Extra Space Storage Inc. ("Extra Space") (NYSE: EXR), a leading owner and operator of self-storage facilities in the United States and a member of the S&P 500, today announced that its operating partnership, Extra Space Storage LP (the "operating partnership"), has priced a public offering of $350 million aggregate principal amount of additional 5.500% senior notes due 2030 (the "Notes"). The Notes will be issued as additional notes under the indenture pursuant ...

The Extra Space Storage (NYSE: EXR ) stock has clearly underperformed the broad market in recent years. The stock is still trading at minus 35 percent, well below the all-time high reached at the end of 2021. The lastRunner of the TEV Blog | Private InvestorI am a long-term oriented investor and in my early thirties. I hold a law degree and a doctorate in law and love investing and talking about my and others' investments. I regularly write about my research and investments on various investor platforms and ...

The S&P 500 has rallied about 25% over the past year. It has risen thanks to a strong economy and moderating inflation, with the latter factor enabling the Federal Reserve to start reducing interest rates. However, not every stock has participated in the broader market's bull run. Several top real estate investment trusts (REITs) are down about 20% from their recent highs, including Realty Income (O -0.77%), Prologis (PLD -1.54%), and Extra Space Storage (EXR -1.01%). That's partly due to the Fed's decision ...