Revenue segments as reported by the company.

Property rental

Tenant reinsurance

Management fees and other income

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Gross Margin

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

General and administrative

Depreciation and amortization

Gain on real estate transactions

Life Storage Merger transition costs

Impairment of Life Storage trade name

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Extra Space Storage

Extra Space Storage, Inc. is a real estate investment trust. It operates through the following segments: Self-Storage Operations and Tenant Reinsurance. The Self-Storage Operations segment includes rental operations of wholly-owned stores. The Tenant Reinsurance segment includes reinsurance of risks relating to the loss of goods stored by tenants in stores. The company was founded by Kenneth Musser Woolley on April 30, 2004, and is headquartered in Salt Lake City, UT.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Extra Space Storage excels in Q4 2022, eyes growth opportunities

Extra Space Storage delivered a robust performance in Q4 2022, driven by revenue growth and strategic acquisitions.
While facing challenges like negative churn rates and softening markets, the company remains focused on sustainable growth.
Opportunities lie in improving churn rates, exploring new strategies, and leveraging market conditions for continued success.

Extra Space Storage (EXR) reports strong Q1 performance and strategic merger with Life Storage for expansive growth

Extra Space Storage's Q1 2023 Earnings Call highlighted robust operational performance, successful external growth initiatives, and a strategic merger with Life Storage. The company surpassed internal projections, maintained high occupancy rates, and reaffirmed guidance ranges, showcasing its resilience and growth potential.

Extra Space Storage adjusts guidance post-merger for growth challenges

Extra Space Storage's Q2 2023 performance reflects resilience in occupancy despite revenue challenges.
The merger with Life Storage presents synergies and growth opportunities but also operational hurdles.
Strategic focus on integration, data-driven pricing, and synergies aims to drive future performance.
Market dynamics and customer behavior pose challenges and opportunities for revenue optimization.

Extra Space Storage reports steady Q3 performance post-merger success

Extra Space Storage's Q3 2023 performance was steady, with a focus on maximizing integration post-merger and achieving synergies.
Despite challenges like expense pressures and housing market dynamics, the company remains confident in its position and growth strategies.
Opportunities lie in leveraging job growth indicators, exploring new growth platforms, and managing insurance expenses for future performance.

Extra Space Storage posts solid Q4 results amidst challenges

Extra Space Storage delivered a solid performance in Q4 2023, focusing on optimizing asset performance and expansion. While facing challenges with new customer rates and expense growth, the company remains optimistic about growth opportunities and market trends. Strategic initiatives like the dual brand strategy and cost management are key focus areas for future success.

Extra Space Storage reports solid Q1 performance amidst market challenges

Extra Space Storage demonstrated strong operational performance and financial stability in Q1 2024, with notable improvements in occupancy and revenue.
While facing challenges such as market headwinds and competitive pricing, the company is well-positioned to leverage growth opportunities through strategic initiatives.
By focusing on efficiency, innovation, and revenue optimization, Extra Space Storage aims to maintain its market position and drive sustainable growth in the self-storage industry.

Extra Space Storage beats FFO projections, faces pricing challenges

Extra Space Storage demonstrated strong operational performance in Q2
Efforts to enhance efficiencies and manage expenses are yielding results
Challenges in pricing power and revenue guidance adjustments noted

Extra Space Storage resilient post-Hurricane Milton, eyes growth opportunities

Extra Space Storage navigated challenges from Hurricane Milton well, maintaining strong performance and seizing growth opportunities. Cost management efficiency and strategic expansions position the company for continued success.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Extra Space Storage Inc. (NYSE:EXR ) Q3 2024 Results Conference Call October 30, 2024 1:00 PM ET Company Participants Jared Conley - Vice President, Investor Relations Joe Margolis - Chief Executive Officer Scott Stubbs - Chief Financial Officer Conference Call Participants Michael Goldsmith - UBS Todd Thomas - KeyBanc Capital Markets Caitlin Burrows - Goldman Sachs Spenser Allaway - Green Street Juan Sanabria - BMO Capital Markets Nick Yulico - Scotiabank Eric Wolfe - Citi Jeff Spector - Bank of America Eric Luebchow - Wells Fargo Hongliang Zhang - JPMorgan Jenny Li - Morgan Stanley Samir Khanal - Evercore ISI Omotayo Okusanya - Deutsche Bank Ki Bin Kim - Truist Operator Ladies and gentlemen, thank you for standing by. Welcome to the Third Quarter 2024 Extra Space Storage Earnings Conference Call.

Extra Space Storage Inc. (EXR) Q3 2024 Earnings Call Transcript

EXR's Q3 results reflect higher revenues and a rise in occupancy. Higher interest expenses hurt.

Extra Space Storage Q3 FFO Tops Estimates, Occupancy Rises

Although the revenue and EPS for Extra Space Storage (EXR) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Extra Space Storage (EXR) Q3 Earnings: A Look at Key Metrics

Extra Space Storage (EXR) came out with quarterly funds from operations (FFO) of $2.07 per share, beating the Zacks Consensus Estimate of $2.03 per share. This compares to FFO of $2.02 per share a year ago.

Extra Space Storage (EXR) Beats Q3 FFO and Revenue Estimates

SALT LAKE CITY , Oct. 29, 2024 /PRNewswire/ -- Extra Space Storage Inc. (NYSE: EXR) (the "Company"), a leading owner and operator of self-storage facilities in the United States and a constituent of the S&P 500, announced operating results for the three and nine months ended September 30, 2024. Highlights for the three months ended September 30, 2024: Achieved net income attributable to common stockholders of $0.91 per diluted share, representing a 5.2% decrease compared to the same period in the prior year primarily due to a $51.8 million loss related to the impairment of the Life Storage Inc. ("Life Storage" or "LSI") trade name based on the Company's decision to operate under a single brand.

Extra Space Storage Inc. Reports 2024 Third Quarter Results

Evaluate the expected performance of Extra Space Storage (EXR) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

Stay Ahead of the Game With Extra Space Storage (EXR) Q3 Earnings: Wall Street's Insights on Key Metrics

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EXR is likely to benefit from the high brand value, accretive buyouts and a healthy balance sheet. Lower new customer rates and high interest rates are concerns.

Is it Wise to Retain Extra Space Storage Stock for Now?

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Historically, REITs outperform the S&P 500 after rising interest rates, with recent data showing a 25% return from May to September 2024. Mortgage rates impact REITs differently, with lower rates boosting rental demand for multifamily and SFR REITs, but potentially increasing home prices. The "lock-in effect" limits home sales, benefiting multifamily and SFR REITs by driving rental demand, while self-storage REITs await increased home sales.

Assessing The Impact Of Mortgage Rates On REITs

EXR is set to gain from its high brand value, need-based resilient storage business, diversified portfolio, accretive buyouts and healthy balance sheet.

Extra Space Storage Stock Rallies 10.5% YTD: Will It Rise Further?

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SALT LAKE CITY , Sept. 24, 2024 /PRNewswire/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) announced today it will release financial results for the three and six months ended Sept 30, 2024 on Tuesday, October 29, 2024 after the market closes.

Extra Space Storage Inc. Announces Date of Earnings Release and Conference Call to Discuss 3rd Quarter 2024 Results

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The Fed surprised markets with a 50 basis point rate cut, signaling a focus on economic growth over inflation. Projections show rates falling to 3% in the coming years. Despite sticky inflation, the Fed's shift supports my long-term thesis: economic stability will be prioritized. This makes high-quality dividend stocks attractive investments. Dividend stocks with pricing power, like energy and royalty companies, offer inflation protection. Now is an ideal time to invest in these long-term income plays.

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Self-storage real estate investment trusts (REITs), which generate income by leasing storage units to tenants, have become popular among investors seeking stable and consistent returns.

Self-Storage REITs Analyst Is Bullish On Extra Space Storage, But No Longer Bullish On This Stock

I remain bullish on Extra Space Storage due to its strong operational performance, strategic growth through mergers, and consistent dividend payouts, despite industry challenges. EXR's valuation appears fair after a recent rally, so I'm cautious about deploying significant capital at current levels without a meaningful pullback. The Life Storage merger and expansion of third-party managed properties enhance EXR's market position and revenue streams, supporting long-term growth.

Extra Space, Extra Gains: How Extra Space Storage Is Winning The Dividend Game

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Assessing Quality Of REIT Earnings

Extra Space Storage (EXR) is likely to benefit from the high brand value, accretive buyouts and a healthy balance sheet despite lower new customer rates.

Extra Space Storage (EXR) Up 21% in 3 Months: Will the Trend Last?

SALT LAKE CITY , Aug. 19, 2024 /PRNewswire/ -- Extra Space Storage (NYSE: EXR), a leader in the self-storage sector, celebrates its 20th anniversary as a publicly traded company. The company began trading on the New York Stock Exchange on August 20, 2004, following its initial public offering (IPO).

Extra Space Storage Celebrates 20 Years as a Publicly Traded Company

SALT LAKE CITY , Aug. 19, 2024 /PRNewswire/ -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) announced today that the Company's board of directors has declared a third quarter 2024 dividend of $1.62 per share on the common stock of the Company.  The dividend is payable on September 30, 2024, to stockholders of record at the close of business on September 16, 2024.

Extra Space Storage Inc. Announces 3rd Quarter 2024 Dividend

SALT LAKE CITY , Aug. 7, 2024 /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 $400 million aggregate principal amount of 5.350% senior notes due 2035 (the "Notes"). The Notes were priced at 99.973% of the principal amount and will mature on January 15, 2035.

Extra Space Announces Pricing of $400 Million of 5.350% Senior Notes due 2035

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Extra Space Storage Inc. (NYSE:EXR ) Q2 2024 Earnings Conference Call July 31, 2024 1:00 PM ET Company Participants Jared Conley - Vice President, Investor Relations Joe Margolis - Chief Executive Officer Scott Stubbs - Chief Financial Officer Conference Call Participants Michael Goldsmith - UBS Steve Sakwa - Evercore ISI Eric Wolfe - Citi Juan Sanabria - BMO Capital Markets Keegan Carl - Wolfe Research Joshua Dennerlein - Bank of America Ronald Kamdem - Morgan Stanley Ki Bin Kim - Truist Brendan Lynch - Barclays Hongliang Zhang - JPMorgan Todd Thomas - KeyBanc Capital Markets Omotayo Okusanya - Maryland REIT Research Nick Yulico - Scotiabank Operator Good day, everyone, and thank you for standing by. Welcome to the Second Quarter 2024 Extra Space Storage, Inc. Earnings Conference Call.

Extra Space Storage Inc. (EXR) Q2 2024 Earnings Call Transcript

Extra Space Storage's (EXR) Q2 results reflect higher occupancy. However, higher same-store operating expenses and increased interest expenses act as a spoilsport.

News for Extra Space Storage Stock (EXR)