Extra Space Storage, Inc. | REIT Profile

Symbol: EXR
CIK: 1289490
Exchange: NYSE
Founded: 1977 (45 years)
HQ: Salt Lake City, UT, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Self Storage

See EXR on Google Finance
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See EXR on SEC.gov

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About Extra Space Storage, Inc.

Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust. As of December 31, 2016, the Company owned and/or operated 1,427 self-storage properties in 38 states, Washington, D.C. and Puerto Rico. The Company's properties comprise approximately 960,000 units and approximately 107 million square feet of rentable storage space offering customers conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage properties in the United States and is the largest self-storage management company in the United States.


Extra Space Storage, Inc. Company Logo

Stock Chart

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REITMovers


REITMovers tracks the stock price and other indicators for all US REITs tracked by REITNotes during normal trading hours. This data is updated every 3 minutes during normal trading hours. Note: All prices have a 15 minute delay.


Latest Price High Low Open Close Previous Close Volume Change $ Change % Market Cap PE Ratio 52W High 52W Low Ytd Change
$155.62 $158.35 $154.75 $157.32 $155.62 $156.49 362,398 -$0.87 -0.56% $20,840,868,187 23.83 $223.22 $149.78 -29.80%

Last update: 2022-11-25 10:01:36 PST

REITRating™ Trend


REITRating™ is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. See score breakdown. The graph below plots the overall REITRating™ score for the last trading days. See complete trend.

Overall REITRating Score: 8.5

Hightlights of Trading Day November 25, 2022


Open Price: $157.32
Closing Price: $155.62
Price Change: -0.87 (-0.556%)
Lowest Price: $154.745
Highest Price: $158.347
52-Week Low: $149.78
52-Week High: $223.22
52-Week Change: -21.02%
5 Day Price Change: 0.77%
1 Month Price Change: -5.16%
3 Month Price Change: -24.06%
6 Month Price Change: -9.12%
YTD Price Change: -29.24%
1 Year Price Change: -21.02%
2 Year Price Change: 51.02%
5 Year Price Change: 111.33%

Dividend of Trading Day November 25, 2022


Dividend Yield: 3.856%*
Annualized Dividend: $6*
Dividend Yield (TTM): 3.631%
Annualized Dividend (TTM): $5.6822
Ex-Dividend Date: 2022-09-14
Next Ex-Dividend: 2022-12-13
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)



FFO Amount and Payout Ratio

Below are the FFO amounts, dividends, and payout ratios for the last two quarters for EXR.

Year Quarter Type Amount Dividend Paid Payout Ratio
2022 Q3 FFO $--- $--- ---%
2022 Q3 FFO Core $--- $--- ---%
2022 Q2 FFO Core $--- $--- ---%
2022 Q2 FFO $--- $--- ---%

REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.


Funds From Operations (FFO)

Key Stats of Trading Day November 25, 2022


Total Cash: $86,991,000
Current Debt: $257,324,000
Revenue: $1,844,835,000
Gross Profit: $1,844,835,000
Total Revenue: $1,844,835,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $1,311,330,000
Revenue Per Share: $14
Revenue Per Employee: $455,740
Employee: 4,013
Debt to Equity Ratio (D/E): 3.64
Profit Margin: 0.50%
Enterprise Value (EV): $28,110,338,528
Enterprise Value to Revenue (EV/R): 15.24
Price to Sales (P/S): 11.49
Price to Book (P/B): 6.52
Price/Earnings-to-Growth (PEG) Ratio: 0.95
P/E Ratio: 23.83
P/E High: 22.35
P/E Low: 16.86
Forward P/E Ratio: 25.98
Market Capitalization: $20,840,868,187
Beta: 0.89
Latest Volume: 362,399
Avg. Total Volume: 1,162,362
Avg. 10-Day Volume: 914,042
Avg. 30-Day Volume: 1,162,362
TTM EPS: 6.53
Shares Outstanding: 133,921,528
Float: N/A
50-Day Moving Avg.: $162.98
200-Day Moving Avg.: $176.55

Latest REIT Community Comments on #EXR


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Properties Owned by EXR


EXR Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website


Properties Based on Earnings Report's 10-K

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $105.64 per share you would have been able to buy 9 shares of EXR on 2021-11-26 costing $950.76 @ $105.64 per share you would have been able to buy 4 shares of EXR on 2021-11-26 costing $422.56 @ $105.64 per share you would have been able to buy 2 shares of EXR on 2021-11-26 costing $211.28 @ $105.64 per share you would have been able to buy 0 shares of EXR on 2021-11-26 costing $0.00 @ $105.64 per share you would have been able to buy 0 shares of EXR on 2021-11-26 costing $0.00
Current worth On 2022-11-25 these 9 shares would be worth $1,400.58 @ $155.62 On 2022-11-25 these 4 shares would be worth $622.48 @ $155.62 On 2022-11-25 these 2 shares would be worth $311.24 @ $155.62 On 2022-11-25 these 0 shares would be worth $0.00 @ $155.62 On 2022-11-25 these 0 shares would be worth $0.00 @ $155.62
Dividends earned $51.75 in dividends would have been earned since 2021-11-26 with 9 shares. $23 in dividends would have been earned since 2021-11-26 with 4 shares. $11.50 in dividends would have been earned since 2021-11-26 with 2 shares. $0.00 in dividends would have been earned since 2021-11-26 with 0 shares. $0.00 in dividends would have been earned since 2021-11-26 with 4 shares.
Net (gain / loss)* 501.57 USD 222.92 USD 111.46 USD 0.00 USD 0.00 USD
ROI** 52.75% 52.75% 52.75% nan% nan%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by EXR. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
EXR 2022-09-14 1.500 --- 2022-08-19 2022-09-15 2022-09-30
EXR 2022-06-14 1.500 --- 2022-05-26 2022-06-15 2022-06-30
EXR 2022-03-14 1.500 20.00% 2022-02-16 2022-03-15 2022-03-31
EXR 2021-12-14 1.250 --- 2021-11-22 2021-12-15 2021-12-31
EXR 2021-09-14 1.250 25.00% 2021-08-23 2021-09-15 2021-09-30
EXR 2021-06-14 1.000 --- 2021-05-27 2021-06-15 2021-06-30
EXR 2021-03-12 1.000 11.11% 2021-02-18 2021-03-15 2021-03-31
EXR 2020-12-14 0.900 --- 2020-11-12 2020-12-15 2020-12-31
EXR 2020-09-14 0.900 --- 2020-08-21 2020-09-15 2020-09-30
EXR 2020-06-12 0.900 --- 2020-05-15 2020-06-15 2020-06-30
EXR 2020-03-13 0.900 --- 2020-02-13 2020-03-16 2020-03-31
EXR 2019-12-13 0.900 --- 2019-11-11 2019-12-16 2019-12-31
EXR 2019-09-13 0.900 --- 2019-08-26 2019-09-16 2019-09-30
EXR 2019-06-13 0.900 4.65% 2019-05-23 2019-06-14 2019-06-28
EXR 2019-03-14 0.860 --- 2019-02-14 2019-03-15 2019-03-29
EXR 2018-12-13 0.860 --- 2018-11-13 2018-12-14 2018-12-31
EXR 2018-09-13 0.860 --- 2018-08-24 2018-09-14 2018-09-28
EXR 2018-06-14 0.860 10.26% 2018-05-24 2018-06-15 2018-06-29
EXR 2018-03-14 0.780 --- 2018-02-15 2018-03-15 2018-03-29
EXR 2017-12-14 0.780 --- 2017-11-10 2017-12-15 2017-12-29

Earnings Press Releases


Below are the Earnings Press Releases for EXR. To see the complete Earnings Report please visit the sec.gov.

Year Quarter Title
2021 Q4 Extra Space Storage Inc. Reports 2021 Fourth Quarter and Year-End Results
2021 Q3 Extra Space Storage Inc. Reports 2021 Third Quarter Results
2021 Q2 Extra Space Storage Inc. Reports 2021 Second Quarter Results
2021 Q1 Extra Space Storage Inc. Reports 2021 First Quarter Results

Financial Statements Overview


The next Earnings Report for EXR is 2023-02-22

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2022-06-30 2022-03-31 2021-12-31 2021-09-30
Current Cash 58,729,000 65,978,000 71,126,000 65,565,000
Receivables 73,983,000 0 0 0
Inventory 0 0 0 0
Current Assets 871,422,000 760,085,000 1,247,639,000 671,680,000
Current Assets (Other) 36,356,000 0 719,187,000 0
Short Term Investments 738,710,000 694,107,000 1,176,513,000 606,115,000
Long-term Investments 10,167,345,000 9,831,665,000 9,226,838,000 9,036,679,000
Property, Plant & Equipment Net 9,170,246,000 8,940,724,000 8,834,649,000 8,272,671,000
Goodwill 170,811,000 0 0 0
Intangible Assets 0 0 0 0
Other Assets 38,035,000 172,001,000 159,172,000 145,342,000
Net Tangible Assets 3,031,309,000 3,210,215,000 3,116,496,000 2,991,762,000
Total Assets 11,038,767,000 10,591,750,000 10,474,477,000 9,708,359,000
Accounts Payable 0 0 0 0
Liabilities (Other) 282,200,000 256,716,000 291,531,000 279,668,000
Current Liabilities (Other) 237,295,000 201,362,000 205,867,000 227,870,000
Total Current Liabilities 237,295,000 201,362,000 1,947,793,000 227,870,000
Current Long-term Debt 0 0 1,741,926,000 0
Long-term Debt 6,387,640,000 6,012,666,000 4,215,821,000 5,583,828,000
Total Liabilities 7,836,647,000 7,381,535,000 7,357,981,000 6,716,597,000
Minority Interest 691,120,000 667,949,000 669,480,000 391,113,000
Common Stock 134,192,540 134,180,175 133,925,836 133,809,750
Retained Earnings -159,091,000 -127,193,000 -128,245,000 -229,269,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 3,202,120,000 3,210,215,000 3,116,496,000 2,991,762,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2022-06-30 2022-03-31 2021-12-31 2021-09-30
Total Revenue 474,988,000 443,562,000 427,383,000 412,492,000
Cost of Revenue 0 0 0 0
Gross Profit 474,988,000 443,562,000 427,383,000 412,492,000
Research and Development 0 0 0 0
Selling General and Admin 31,251,000 29,762,000 27,918,000 24,395,000
Operating Expense 213,572,000 208,252,000 192,487,000 186,214,000
Operating Income 261,416,000 235,310,000 234,896,000 226,278,000
Income Expense Net (Other) 0 0 0 0
EBIT 271,606,000 244,407,000 243,721,000 234,533,000
Interest Income 32,406,000 23,549,000 32,746,000 27,941,000
Pretax Income 253,449,000 220,858,000 287,852,000 206,592,000
Income Tax 5,615,000 3,141,000 3,994,000 6,772,000
Minority Interest 15,704,000 14,138,000 15,431,000 11,544,000
Net Income 231,817,000 203,293,000 268,048,000 188,016,000
Net Income Basic 231,817,000 203,293,000 268,048,000 188,016,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2022-06-30 2022-03-31 2021-12-31 2021-09-30
Net Income 231,817,000 203,293,000 268,048,000 188,016,000
Depreciation 69,067,000 67,906,000 62,194,000 61,516,000
Changes in Receivables 73,983,000 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 58,729,000 65,978,000 71,126,000 65,565,000
Cash Flow 352,922,000 287,465,000 223,168,000 265,580,000
Capital Expenditures -16,067,000 -22,701,000 -14,108,000 -17,918,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -448,656,000 -121,372,000 -419,748,000 -272,490,000
Dividends Paid 0 0 0 0
Net Borrowings 5,590,201,000 5,252,581,000 4,710,108,000 4,912,148,000
Cash Flow Financing 93,234,000 -169,621,000 191,493,000 28,442,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
8 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.6
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 7.0
9 Dividend to FFO Core Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Core Payout Ratios during the last four quarters. 8.7
9 Dividend to FFO Core Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Core Payout Ratios trend during the last two years. 7.4
Rating AFFO & Efficiency Section Avg. Rating
10 FFO Core Trend: Analysis of the REIT’s FFO Core trend during the last two years. 8.9
8 FFO Core to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.9
8 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 7.0
6 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 7.1
Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.7
10 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 6.9
10 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.6
9 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
4 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.0
8 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.2
Rating Asset & Revenue Section Avg. Rating
8 G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.3
9 G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. 8.0
10 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 7.8
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.1
Rating Properties Section Avg. Rating
9 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.7
8 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.8
8 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
3 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.0
8.5 Overall REITRating™ Score (See trend) 6.2

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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Last updated: 2022-11-26 - v3.5