Earnings summaries and quarterly performance for Extra Space Storage.
Executive leadership at Extra Space Storage.
Joe Margolis
Detailed
Chief Executive Officer
CEO
GM
Gwyn McNeal
Detailed
Executive Vice President and Chief Legal Officer
JN
Jeff Norman
Detailed
Executive Vice President and Chief Financial Officer
MH
Matt Herrington
Detailed
Executive Vice President and Chief Operations Officer
NS
Noah Springer
Detailed
Executive Vice President and Chief Strategy and Partnership Officer
SS
Samrat Sondhi
Detailed
Executive Vice President and Chief Digital Officer
ZD
Zach Dickens
Detailed
Executive Vice President and Chief Investment Officer
Board of directors at Extra Space Storage.
DO
Diane Olmstead
Detailed
Director
GC
Gary Crittenden
Detailed
Director
JB
Joseph Bonner
Detailed
Director
JS
Joseph Saffire
Detailed
Director
JV
Julia Vander Ploeg
Detailed
Director
KW
Kenneth Woolley
Detailed
Chairman of the Board
MB
Mark Barberio
Detailed
Lead Independent Director
SK
Spencer Kirk
Detailed
Director
SH
Susan Harnett
Detailed
Director
Research analysts who have asked questions during Extra Space Storage earnings calls.
Eric Wolfe
Citi
8 questions for EXR
Also covers: AMH, AVB, CPT +13 more
Michael Goldsmith
UBS
8 questions for EXR
Also covers: ADC, AHR, AMH +39 more
RK
Ronald Kamdem
Morgan Stanley
8 questions for EXR
Also covers: AAT, ADC, AHR +37 more
Todd Thomas
KeyBanc Capital Markets
8 questions for EXR
Also covers: AAT, AKR, BRX +21 more
CB
Caitlin Burrows
Goldman Sachs
7 questions for EXR
Also covers: ALX, BNL, BRX +19 more
Juan Sanabria
BMO Capital Markets
6 questions for EXR
Also covers: AHR, AMH, BRX +22 more
Michael Griffin
Citigroup Inc.
6 questions for EXR
Also covers: AHR, ALX, ARE +35 more
OO
Omotayo Okusanya
Deutsche Bank AG
6 questions for EXR
Also covers: AMH, ARE, AVB +43 more
RV
Ravi Vaidya
Mizuho
6 questions for EXR
Also covers: AAT, CUBE, EPRT +11 more
Brendan Lynch
Barclays
5 questions for EXR
Also covers: AMT, BXP, CCI +24 more
Nicholas Yulico
Scotiabank
5 questions for EXR
Also covers: AHR, ALX, AVB +20 more
Samir Khanal
Bank of America
5 questions for EXR
Also covers: AKR, BRX, COLD +18 more
Jeffrey Spector
BofA Securities
4 questions for EXR
Also covers: AKR, AMH, AVB +25 more
SM
Salil Mehta
Green Street
4 questions for EXR
Also covers: NSA
SA
Spenser Allaway
Green Street
4 questions for EXR
Also covers: ADC, BNL, CUBE +8 more
Eric Luebchow
Wells Fargo
3 questions for EXR
Also covers: AMT, CCI, CUBE +10 more
KB
Ki Bin Kim
Truist Securities
3 questions for EXR
Also covers: ADC, AKR, BNL +20 more
MM
Michael Mueller
JPMorgan Chase & Co.
3 questions for EXR
Also covers: AKR, BRX, CBL +27 more
DP
Daniela Perdomo
J.P. Morgan Chase & Co
2 questions for EXR
MM
Mike Mueller
JPMorgan Chase & Co.
2 questions for EXR
Also covers: COLD, CUBE, CURB +14 more
VF
Victor Fedev
Scotiabank
2 questions for EXR
Alex Murphy
Truist Securities
1 question for EXR
AP
Anthony Peak
KeyBanc Capital Markets
1 question for EXR
Also covers: AAT, LXP
Brad Heffern
RBC Capital Markets
1 question for EXR
Also covers: ADC, AMH, AVB +17 more
HZ
Hongliang Zhang
JPMorgan Chase & Co.
1 question for EXR
Also covers: KRG
HZ
Hong Zhang
JPMorgan Chase & Co.
1 question for EXR
Also covers: BRX, CUBE, CURB +7 more
Jenny Li
Morgan Stanley
1 question for EXR
Also covers: ADC, GLPI, PSA +1 more
JK
Jeremy Kuhl
Goldman Sachs
1 question for EXR
Also covers: SAFE, VICI
Jon Petersen
Jefferies
1 question for EXR
Also covers: AHH, CORZ, CUBE +12 more
KC
Keegan Carl
Wolfe Research, LLC
1 question for EXR
Also covers: ELS, SUI, UHAL
PF
Peter Feyto
Scotiabank
1 question for EXR
Recent press releases and 8-K filings for EXR.
Extra Space Storage reports Q4 2025 results and 2026 outlook
EXR
Earnings
Guidance Update
Share Buyback
- Extra Space generated 2.5% core FFO growth in Q4 and 1.1% for full-year 2025, with same-store revenue up 0.4% in Q4, driven by positive move-in rates in 16 of its top 20 markets.
- For 2026, the company expects same-store revenue growth of ‑0.5% to +1.5%, expense growth of 2.0%–3.5%, and core FFO of $8.05–$8.35 per share, implying a slow, steady recovery without assuming housing market or pricing catalysts.
- In 2025, Extra Space deployed capital via $141 million share repurchase, acquisition of 27 stores for $305 million, $80 million in bridge loans (portfolio grown to ~$1.5 billion), and added 379 stores (281 net) to reach 1,856 managed stores.
- The balance sheet remains conservative with 93% fixed-rate debt at a 4.3% weighted average, a commercial paper program saving $3 million in 2025 interest, and only one material 2026 debt maturity.
8 days ago
Extra Space Storage reports Q4 2025 results
EXR
Earnings
Guidance Update
Share Buyback
- Extra Space reported Q4 net income of $1.36 per diluted share, up 9.7% YoY; FFO was $1.99 per diluted share and Core FFO was $2.08, a 2.5% YoY increase.
- Same-store revenue rose 0.4% and NOI increased 0.1% YoY, with ending occupancy at 92.6% versus 93.3% a year ago.
- The company acquired 27 operating stores for $304.8 million and repurchased 1.09 million shares for $140.9 million in Q4.
- For 2026, Core FFO is guided to $8.05–$8.35 per share, with same-store revenue growth expected between (0.5)% and 1.5%.
8 days ago
Extra Space Storage reports Q4 2025 results
EXR
Earnings
Guidance Update
Share Buyback
- Delivered 2.5% Q4 and 1.1% FY Core FFO growth; Q4 same-store revenue up 0.4% as 16 of its top 20 markets saw positive move-in rates.
- Executed approximately $141 million share repurchase, acquired 27 stores for $305 million, net added 45 third-party managed stores, and originated $80 million in bridge loans (portfolio ~$1.5 billion).
- Issued 2026 guidance: same-store revenue -0.5% to +1.5%, expense growth 2.0%–3.5%, same-store NOI -2.25% to +1.25%, and core FFO of $8.05–$8.35 per share.
- Maintained a strong balance sheet with 93% of debt at fixed rates (4.3% weighted average) and a commercial paper program that saved $3 million in interest expense during 2025.
8 days ago
Extra Space Storage reports Q4 2025 results
EXR
Earnings
Guidance Update
Share Buyback
- Extra Space delivered 2.5% Q4 Core FFO growth and 1.1% full-year Core FFO growth, while same-store revenue returned to 0.4% growth amid improving supply and strong move-in rates.
- The company added 379 stores (net 281) to its external growth platform in 2025, bringing the total managed portfolio to 1,856 stores.
- In Q4, Extra Space repurchased $141 million of common shares, closed on 27 operating stores for $305 million, executed JV acquisitions and sales, originated $80 million in bridge loans, and added 78 third-party managed stores.
- 2026 guidance includes same-store revenue growth of -0.5% to +1.5%, expense growth of 2–3.5%, same-store NOI range of -2.25% to +1.25%, and core FFO of $8.05–$8.35 per share.
- The balance sheet remains conservative, with 93% of debt at fixed rates, a weighted average interest rate of 4.3%, and a commercial paper program that saved over $3 million in 2025.
8 days ago
Extra Space Storage reports Q4 and full-year 2025 results
EXR
Earnings
Share Buyback
Dividends
- Achieved EPS of $1.36 in Q4, up 9.7% year-over-year.
- Generated FFO of $1.99 per diluted share and Core FFO of $2.08, a 2.5% increase year-over-year.
- Delivered same-store revenue growth of 0.4% and same-store NOI growth of 0.1% in Q4, with occupancy at 92.6%.
- For the year, posted FFO of $7.90 and Core FFO of $8.21 per share, up 1.1% compared to 2024.
- Repurchased 1.09 million shares for $140.9 million and paid a $1.62 quarterly dividend per share.
Feb 19, 2026, 9:35 PM
Extra Space Storage reports Q4 and full‐year 2025 results
EXR
Earnings
Share Buyback
Dividends
- Achieved net income of $1.36 per diluted share (up 9.7% YoY), FFO of $1.99 and Core FFO of $2.08 per diluted share in Q4 2025
- Delivered full‐year net income of $4.59 per diluted share (up 13.9% YoY), FFO of $7.90 and Core FFO of $8.21 per diluted share in 2025
- Q4 same‐store revenue rose 0.4% and NOI 0.1%; full‐year same‐store revenue grew 0.1% while NOI declined 1.7%
- Repurchased 1,089,659 shares for $140.9 million and paid a $1.62 per share quarterly dividend
- Acquired 27 operating stores for $304.8 million in Q4 and 41 stores for $483.6 million during 2025
Feb 19, 2026, 9:10 PM
Extra Space Storage reports Q3 2025 results
EXR
Earnings
Guidance Update
M&A
- Extra Space Storage delivered core FFO of $2.08 per share, with same-store revenue down 0.2% YoY; same-store occupancy was 93.7% at quarter-end (94.1% average, +30 bps YoY).
- New customer rates grew over 3% net of discounts (6% gross) in Q3 and have accelerated to over 5% in October.
- Raised full-year core FFO guidance to $8.12–$8.20 per share, same-store revenue growth forecast to –0.25% to +0.25%, and same-store expense growth to 4.5–5%.
- Agreed to acquire a 24-property, $244 million portfolio, lifting acquisition guidance to $900 million, to be funded by the disposition of 25 assets; Q3 bridge loan originations were $123 million with $71 million of loans sold.
- Strengthened the balance sheet by adding $1 billion of credit facility capacity, cutting spreads by 10 bps, and issuing $800 million of bonds at <5% to complete the 10-year debt maturity ladder.
Oct 30, 2025, 5:00 PM
Extra Space Storage reports Q3 2025 results
EXR
Earnings
Guidance Update
M&A
- Core FFO of $2.08 per share, meeting expectations, and FY2025 core FFO guidance raised to $8.12–$8.20 per share.
- Same-store occupancy at 93.7% and same-store revenue down 0.2% year-over-year; new customer rates grew over 3% net (≈6% gross).
- Acquisition guidance increased to $900 million, led by a $244 million, 24-property portfolio purchase, to be funded by disposals of 25 assets.
- Strengthened balance sheet with a $1 billion revolver capacity increase, an $800 million bond issuance at <5%, and 95% of debt fixed-rate.
Oct 30, 2025, 5:00 PM
Extra Space Storage reports Q3 2025 results
EXR
Earnings
Guidance Update
M&A
- In Q3 2025, core FFO was $2.08 per share, same-store occupancy was 93.7% at quarter-end (94.1% average), and new customer rate growth was +3% net (+6% gross) year-over-year.
- Completed a $244 million acquisition of a 24-property portfolio, raised acquisition guidance to $900 million, announced disposition of 25 assets, originated $123 million in bridge loans, and net-added 62 stores to its management platform (1,811 total) year-to-date.
- Raised full-year core FFO guidance to $8.12–$8.20 per share, same-store revenue growth to -0.25% to +0.25%, and same-store expense growth to 4.5%–5.0%.
- Enhanced liquidity by adding $1 billion to its revolving credit facility (10 bp lower spreads), maintained 95% fixed interest rates, and issued an $800 million bond at <5%.
Oct 30, 2025, 5:00 PM
Extra Space Storage reports Q3 2025 results
EXR
Earnings
Dividends
Debt Issuance
- Achieved net income of $0.78 per diluted share, down 14.3% YoY (includes a $105.1 million loss on assets held for sale).
- Generated FFO of $2.01 and Core FFO of $2.08 per diluted share, a 0.5% increase compared to Q3 2024.
- Same-store revenue decreased by 0.2% and same-store NOI fell by 2.5%, with ending occupancy at 93.7% vs. 93.6% a year ago.
- Expanded externally by acquiring two stores (total cost ~$27 million), originating $122.7 million in bridge loans, and growing third-party management to 2,222 stores.
- Issued $800 million of 4.95% senior notes due 2033 and amended its credit facility to a $3 billion revolver; paid a quarterly dividend of $1.62 per share.
Oct 29, 2025, 8:25 PM
Quarterly earnings call transcripts for Extra Space Storage.
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