EXR
Extra Space Storage Inc.130.70
-2.60-1.95%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Key Stats
Market Cap
28.96BP/E (TTM)
29.24Basic EPS (TTM)
4.47Dividend Yield
0.05%Recent Filings
8-K
Q3 Core FFO up, guidance raised
Extra Space Storage reported Q3 net income of $0.78 per diluted share, down 14.3% from prior year due to $105.1M loss on assets held for sale and sold, yet Core FFO edged up 0.5% to $2.08. Same-store NOI fell 2.5% amid 93.7% occupancy, but acquisitions added one store for $12.8M and management platform grew to 2,222 stores. Raised 2025 Core FFO guidance to $8.12-$8.20. Growth persists.
8-K
Refinances $4.5B credit facility
Extra Space Storage LP locked in a $4.5B unsecured credit facility on August 21, 2025, blending $3B revolving credit to 2029 with $500M term loans maturing 2026-2029. Lenders led by U.S. Bank granted flexible expansions to $5.5B and extensions, while covenants cap leverage at 60% (65% post-acquisition). Flexibility intact.
8-K
Completes $800M notes offering
Extra Space Storage LP completed a $800,000,000 public offering of 4.950% senior notes due 2033 on August 8, 2025, guaranteed by the company and affiliates. Sold at 99.739% of par, the unsecured notes carry semiannual interest from January 2026 and rank equally with other senior debt yet subordinate to secured obligations. Covenants limit further borrowing.
8-K
Prices $800M notes due 2033
Extra Space Storage LP priced $800 million of 4.950% senior notes due 2033 on August 6, 2025, at 99.739% of principal, with closing expected August 8. Fully guaranteed by Extra Space and subsidiaries, proceeds will repay lines of credit and commercial paper while funding general corporate needs and potential acquisitions. Underwriters' affiliates stand to benefit from repayments. Risks hinge on customary closing conditions.
8-K
Updates REIT tax prospectus section
Extra Space Storage filed an 8-K on August 6, 2025, superseding the U.S. federal income tax consequences section in its April 15, 2024 S-3ASR prospectus via Exhibit 99.1. The update details REIT qualification requirements, income/asset tests, and taxation rules, backed by Latham & Watkins' opinion affirming compliance since 2004. No operational changes disclosed. Tax law shifts pose risks.
IPO
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Sector
Industry
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