imaginima The self-storage has become materially oversupplied resulting in a greater than 30% drop in street rents from the 2022 peak. More supply remains in the pipeline which I believe will drop rates even further and make Existing Customer Rate Increases (ECRI) significantly more punishing to occupancy. The damage to the sector is readily apparent in industry reports and was the primary subject of 4Q conference calls which made it evident those participating in self-storage are painfully aware of the tou ...

valtron84/iStock via Getty ImagesPacer Industrial Real Estate ETF (NYSEARCA:INDS) is a relatively new fund that began trading in early 2018. INDS is a focused play of industrial REITs comprised primarily of industrial warehouses and self-storage facilities. This is hard to find in the REIT universe. INDS invests in industrial REITs that are a subset of the warehouse e-commerce distribution and logistic networks and self-storage facilities. As consumer e-commerce spending continues to grow and thrive, th ...

Extra Space Storage (EXR) is poised to gain from its high brand value and strong presence in major cities in the United States. Strategic acquisitions, a healthy balance sheet, opportunistic investments and a third-party management platform bode well for the company’s long-term growth. However, lower new customer rates, a development boom in many markets and a high interest rate environment pose key near-term concerns.What’s Aiding EXR?Extra Space Storage is the largest operator of self-storage properties i ...

Extra Space Storage Inc. (NYSE:EXR) Q4 2023 Earnings Conference Call February 28, 2024 1:00 PM ET Company Participants Jeffrey Norman – Senior Vice President, Capital Markets Joe Margolis – Chief Executive Officer Scott Stubbs – Executive Vice President and Chief Financial Officer Conference Call Participants Lizzy Doykan – Bank of America Michael Goldsmith – UBS Todd Thomas – KeyBanc Capital Markets Samir Khanal – Evercore ISI Nick Yulico – Scotiabank Spenser Allaway – Green Street Eric Wolfe – Citi Keegan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-32269 EXTRA SPACE STORAGE INC. (Exact name of registrant as specified in its charter) Maryland 20-1076777 (State or other jurisdic ...

Extra Space Storage (EXR) reported $797.77 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 57.4%. EPS of $2.02 for the same period compares to $1.52 a year ago.The reported revenue represents a surprise of +3.13% over the Zacks Consensus Estimate of $773.59 million. With the consensus EPS estimate being $2.03, the EPS surprise was -0.49%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare t ...

Extra Space Storage (EXR) came out with quarterly funds from operations (FFO) of $2.02 per share, missing the Zacks Consensus Estimate of $2.03 per share. This compares to FFO of $2.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -0.49%. A quarter ago, it was expected that this self-storage facility real estate investment trust would post FFO of $2.03 per share when it actually produced FFO of $2.02, delivering a surprise of -0. ...

Exhibit 99.1 Extra Space Storage Inc. PHONE (801) 365-4600 2795 East Cottonwood Parkway, Suite 300 Salt Lake City, Utah 84121 www.extraspace.com FOR IMMEDIATE RELEASE Extra Space Storage Inc. Reports 2023 Fourth Quarter and Year-End Results SALT LAKE CITY, February 27, 2024 — 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 months and year ended Decemb ...

Extra Space Storage (EXR) , a leading self-storage real estate investment trust (REIT) in the United States, is set to release its fourth-quarter and full-year 2023 results on Feb 27 after market close. The company has been steadily expanding its footprint and diversifying its operations. As the market anticipates the earnings announcement, this article provides an in-depth preview of EXR’s expected performance in the fourth quarter of 2023, considering overall industry trends, EXR's growth strategy and rec ...

Investors are always looking for stocks that are poised to beat at earnings season and Extra Space Storage Inc. (EXR) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Extra Space Storage is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is ...