Extra Space Storage（0IJV）株式概要ユタ州ソルトレイクシティに本社を置くエクストラ・スペース・ストレージ社は、自主管理・自主運営のREITで、S&P500のメンバーである。 詳細0IJV ファンダメンタル分析スノーフレーク・スコア評価1/6将来の成長1/6過去の実績2/6財務の健全性2/6配当金5/6報酬当社が推定した公正価値より12.2%で取引されている 収益は年間5.24%増加すると予測されています 4.42%の安定した配当金を支払う リスク分析負債は営業キャッシュフローで十分にカバーされていない すべてのリスクチェックを見る0IJV Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.NEW470,065 membersJoin community and earn perksGain real feedbackFrom our editorial team, personally. Not silence.Grow your followingReal investors. The kind who actually invest, not scroll past.Unlock free accessFree premium subscription for consistent and quality authors.Learn moreCreate NarrativeBLINRODA470,065 investors already sharing narrativesYour Fair ValueUS$Current PriceUS$148.7252.5% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture04b2016201920222025202620282031Revenue US$3.5bEarnings US$957.6mAdvancedSet Fair ValueView all narrativesExtra Space Storage Inc. 競合他社Big Yellow GroupSymbol: LSE:BYGMarket cap: UK£1.8bSafestore HoldingsSymbol: LSE:SAFEMarket cap: UK£1.4bSEGROSymbol: LSE:SGROMarket cap: UK£13.0bLand Securities GroupSymbol: LSE:LANDMarket cap: UK£5.2b価格と性能株価の高値、安値、推移の概要Extra Space Storage過去の株価現在の株価US$148.7252週高値US$158.5852週安値US$125.52ベータ1.191ヶ月の変化2.22%3ヶ月変化7.97%1年変化9.76%3年間の変化16.23%5年間の変化-14.74%IPOからの変化76.61%最新ニュースNew Risk • Jul 31New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company.Buy Or Sell Opportunity • Jul 30Now 21% undervaluedOver the last 90 days, the stock has risen 3.0% to US$147. The fair value is estimated to be US$187, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 5.6%. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings are also forecast to grow by 4.9% per annum over the same time period.Reported Earnings • Jul 29Second quarter 2026 earnings released: EPS: US$1.25 (vs US$1.18 in 2Q 2025)Second quarter 2026 results: EPS: US$1.25 (up from US$1.18 in 2Q 2025). Revenue: US$874.2m (up 1.9% from 2Q 2025). Net income: US$263.5m (up 5.7% from 2Q 2025). Profit margin: 30% (up from 29% in 2Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 6.9% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.お知らせ • Jul 29Extra Space Storage Inc. Revises Earnings Guidance for the Year Ending December 31, 2026Extra Space Storage Inc. revised earnings guidance for the year ending December 31, 2026. For the year, the company anticipates Same-store revenue growth to be 1% to 2% compared to previous guidance of negative 0.5% to positive 1.5%. Same-store NOI growth to be 0.5% to 2.5% compared to previous guidance of negative 2.25% to positive 1.25%. Net income attributable to common stockholders per diluted share to be in range of $4.49 to $4.64. Net Income to be in range of $1,037,750,000 to $1,085,650,000.お知らせ • Jul 01Extra Space Storage Inc. to Report Q2, 2026 Results on Jul 28, 2026Extra Space Storage Inc. announced that they will report Q2, 2026 results After-Market on Jul 28, 2026Upcoming Dividend • Jun 08Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 15 June 2026. Payment date: 30 June 2026. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (3.9%).最新情報をもっと見るRecent updatesNew Risk • Jul 31New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company.Buy Or Sell Opportunity • Jul 30Now 21% undervaluedOver the last 90 days, the stock has risen 3.0% to US$147. The fair value is estimated to be US$187, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 5.6%. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings are also forecast to grow by 4.9% per annum over the same time period.Reported Earnings • Jul 29Second quarter 2026 earnings released: EPS: US$1.25 (vs US$1.18 in 2Q 2025)Second quarter 2026 results: EPS: US$1.25 (up from US$1.18 in 2Q 2025). Revenue: US$874.2m (up 1.9% from 2Q 2025). Net income: US$263.5m (up 5.7% from 2Q 2025). Profit margin: 30% (up from 29% in 2Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 6.9% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.お知らせ • Jul 29Extra Space Storage Inc. Revises Earnings Guidance for the Year Ending December 31, 2026Extra Space Storage Inc. revised earnings guidance for the year ending December 31, 2026. For the year, the company anticipates Same-store revenue growth to be 1% to 2% compared to previous guidance of negative 0.5% to positive 1.5%. Same-store NOI growth to be 0.5% to 2.5% compared to previous guidance of negative 2.25% to positive 1.25%. Net income attributable to common stockholders per diluted share to be in range of $4.49 to $4.64. Net Income to be in range of $1,037,750,000 to $1,085,650,000.お知らせ • Jul 01Extra Space Storage Inc. to Report Q2, 2026 Results on Jul 28, 2026Extra Space Storage Inc. announced that they will report Q2, 2026 results After-Market on Jul 28, 2026Upcoming Dividend • Jun 08Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 15 June 2026. Payment date: 30 June 2026. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (3.9%).Board Change • Jun 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Crystal Maggelet was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Declared Dividend • May 25First quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 15th June 2026 Payment date: 30th June 2026 Dividend yield will be 4.5%, which is higher than the industry average of 4.0%.お知らせ • May 22Extra Space Storage Inc. Announces Board and Committee Appointments, Effective May 14, 2026At the Extra Space Storage Inc. announced at its 2026 Annual Meeting of Shareholders held on May 14, 2026, Crystal Call Maggelet and RJ Pittman were elected to the board of directors. The addition of these new board members reflects Extra Space's ongoing commitment to regular board refreshment and the integration of high-caliber leadership with expertise in real estate, retail operations strategy, and technological innovation. Crystal Call Maggelet brings extensive experience in managing large-scale, multi-unit retail properties and executing complex operational strategies. She serves as the CEO and Chairperson of FJ Management Inc., a diversified family business including Maverik, an 850+ c-store chain and two fuel transportation divisions, Big West Oil, and TAB Bank. Additionally, Maggelet founded the Crystal Inn hotel chain in 1993 and serves as its Managing Director. Her robust background in corporate governance includes previous board roles at Savage Services, Intermountain Health and Pilot Flying J. She holds a bachelor's degree in Business Administration from Pepperdine University and earned a Master of Business Administration from Harvard Business School. RJ Pittman joins the team as a premier technology pioneer with a proven track record of leading digital transformation and advancing artificial intelligence, machine learning, and data science. Pittman served as the CEO and Chairman of the Board of Matterport, a spatial data company and technology platform in real estate, from 2018 to 2025. Prior to Matterport, he served as eBay's first Chief Product Officer and held senior roles at Apple and Google where he led international e-commerce platforms and web search properties. He holds a Bachelor of Science in Computer Engineering from the University of Michigan and a Master of Science in Engineering-Economic Systems from Stanford. Ms. Maggelet will serve as a member of the Nominating, Governance, & Corporate Responsibility Committee and Mr. Pittman will serve as a member of the Audit Committee.お知らせ • May 16Extra Space Storage Inc. Announces Second Quarter 2026 Dividend, Payable on June 30, 2026Extra Space Storage Inc. announced that the Company's board of directors has declared a second quarter 2026 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on June 30, 2026, to stockholders of record at the close of business on June 15, 2026.Reported Earnings • Apr 29First quarter 2026 earnings released: EPS: US$1.14 (vs US$1.28 in 1Q 2025)First quarter 2026 results: EPS: US$1.14 (down from US$1.28 in 1Q 2025). Revenue: US$856.0m (up 1.9% from 1Q 2025). Net income: US$241.0m (down 11% from 1Q 2025). Profit margin: 28% (down from 32% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.4% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.お知らせ • Apr 03Extra Space Storage Inc., Annual General Meeting, May 14, 2026Extra Space Storage Inc., Annual General Meeting, May 14, 2026.お知らせ • Mar 31Extra Space Storage Inc. to Report Q1, 2026 Results on Apr 28, 2026Extra Space Storage Inc. announced that they will report Q1, 2026 results After-Market on Apr 28, 2026Recent Insider Transactions • Mar 22CEO & Director recently sold US$1.1m worth of stockOn the 13th of March, Joseph Margolis sold around 8k shares on-market at roughly US$142 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Joseph's only on-market trade for the last 12 months.Upcoming Dividend • Mar 09Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 16 March 2026. Payment date: 31 March 2026. Trailing yield: 4.4%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (3.9%).Declared Dividend • Feb 22Fourth quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 16th March 2026 Payment date: 31st March 2026 Dividend yield will be 4.3%, which is higher than the industry average of 4.0%.Reported Earnings • Feb 21Full year 2025 earnings released: FFO per share: US$8.3 (vs US$7.93 in FY 2024)Full year 2025 results: FFO per share: US$8.3 (up from US$7.93 in FY 2024). Revenue: US$3.50b (up 4.9% from FY 2024). Funds from operations (FFO): US$1.75b (up 4.5% from FY 2024). FFO margin: 50% (in line with FY 2024). Revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.お知らせ • Feb 14Extra Space Storage Inc. Announces First Quarter 2026 Dividend, Payable on March 31, 2026Extra Space Storage Inc. announced that the Company's board of directors has declared a first quarter 2026 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on March 31, 2026, to stockholders of record at the close of business on March 16, 2026.お知らせ • Jan 21Extra Space Storage Inc. to Report Q4, 2025 Results on Feb 19, 2026Extra Space Storage Inc. announced that they will report Q4, 2025 results After-Market on Feb 19, 2026Buy Or Sell Opportunity • Jan 13Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.7% to US$140. The fair value is estimated to be US$175, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has declined by 18%. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period.お知らせ • Jan 06Extra Space Storage Inc. Announces Promotion of Noah Springer to President, Effective January 5, 2026Extra Space Storage Inc. announced that the Board of Directors of Extra Space Storage has promoted Noah Springer, the Company's current Executive Vice President, Chief Strategy and Partnership Officer, to President, effective January 5, 2026. Mr. Springer currently is responsible for the Company's third-party management program, joint ventures, human resources department and other strategic initiatives. With Mr. Springer's promotion to President, the Company's operations function will also report to Mr. Springer. Mr. Springer joined Extra Space Storage in 2006 after several years in the banking industry. During his time at the Company, he has served in various roles in acquisitions, asset management and third-party management. Mr. Springer helped develop, lead and grow the Company's third-party management platform, Management Plus, which today is the storage sector's largest third-party management platform with over 1,800 locations. In addition, Mr. Springer has overseen the Company's asset management, construction, and human resources departments. Mr. Springer has been a member of the Company's senior management team since 2014, and a member of the Company's executive team since 2020. Mr. Springer holds a B.A. in Finance and an M.B.A. from the University of Utah.Upcoming Dividend • Dec 08Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 15 December 2025. Payment date: 31 December 2025. Trailing yield: 5.0%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (4.2%).Declared Dividend • Nov 24Third quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 15th December 2025 Payment date: 31st December 2025 Dividend yield will be 4.9%, which is higher than the industry average of 4.0%.お知らせ • Nov 21Extra Space Storage Inc. Announces Dividend for the Fourth Quarter 2025, Payable on December 31, 2025Extra Space Storage Inc. announced that the Company's board of directors has declared a fourth quarter 2025 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on December 31, 2025, to stockholders of record at the close of business on December 15, 2025.Reported Earnings • Oct 30Third quarter 2025 earnings released: EPS: US$0.78 (vs US$0.91 in 3Q 2024)Third quarter 2025 results: EPS: US$0.78 (down from US$0.91 in 3Q 2024). Revenue: US$858.5m (flat on 3Q 2024). Net income: US$166.0m (down 14% from 3Q 2024). Profit margin: 19% (down from 23% in 3Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.お知らせ • Oct 30Extra Space Storage Inc. Revises Earnings Guidance for the Year Ending December 31, 2025Extra Space Storage Inc. revised earnings guidance for the Year Ending December 31, 2025 . For the year, the company anticipates Same-store revenue growth to be negative 0.25% to positive 0.25% compared to previous guidance of negative 0.5% to positive 1%. Same-store NOI growth to be negative 2.25% to 1.25% compared to previous guidance of negative 2.75% to positive 0.00%.Net income attributable to common stockholders per diluted share to be in range of $4.16 to $4.24. Net Income to be in range of $1,037,636,000 to $1,064,636,000.お知らせ • Sep 25Extra Space Storage Inc. to Report Q3, 2025 Results on Oct 29, 2025Extra Space Storage Inc. announced that they will report Q3, 2025 results After-Market on Oct 29, 2025Upcoming Dividend • Sep 08Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 15 September 2025. Payment date: 30 September 2025. Trailing yield: 4.4%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (3.9%).Declared Dividend • Aug 25Second quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 15th September 2025 Payment date: 30th September 2025 Dividend yield will be 4.6%, which is higher than the industry average of 4.0%.お知らせ • Aug 22Extra Space Storage Inc. Declares Dividend for the Third Quarter of 2025, Payable on September 30, 2025Extra Space Storage Inc. announced that the Company's board of directors has declared a third quarter 2025 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on September 30, 2025, to stockholders of record at the close of business on September 15, 2025.Reported Earnings • Jul 31Second quarter 2025 earnings released: EPS: US$1.18 (vs US$0.88 in 2Q 2024)Second quarter 2025 results: EPS: US$1.18 (up from US$0.88 in 2Q 2024). Revenue: US$841.6m (up 1.7% from 2Q 2024). Net income: US$249.7m (up 35% from 2Q 2024). Profit margin: 30% (up from 22% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.7% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.お知らせ • Jun 25Extra Space Storage Inc. to Report Q2, 2025 Results on Jul 30, 2025Extra Space Storage Inc. announced that they will report Q2, 2025 results After-Market on Jul 30, 2025Upcoming Dividend • Jun 09Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 16 June 2025. Payment date: 30 June 2025. Trailing yield: 4.3%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (3.7%).Declared Dividend • May 26First quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 16th June 2025 Payment date: 30th June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 4.0%.お知らせ • May 23Extra Space Storage Inc. Announces Second Quarter 2025 Dividend, Payable on June 30, 2025Extra Space Storage Inc. announced that the Company's board of directors has declared a second quarter 2025 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on June 30, 2025, to stockholders of record at the close of business on June 16, 2025.New Risk • May 14New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 151% Dividend yield: 4.4% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risk Dividend is not well covered by earnings (151% payout ratio).Reported Earnings • Apr 30First quarter 2025 earnings released: EPS: US$1.28 (vs US$1.01 in 1Q 2024)First quarter 2025 results: EPS: US$1.28 (up from US$1.01 in 1Q 2024). Revenue: US$820.0m (flat on 1Q 2024). Net income: US$270.9m (up 27% from 1Q 2024). Profit margin: 33% (up from 26% in 1Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$124, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 18x in the Specialized REITs industry globally. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$207 per share.お知らせ • Apr 03Extra Space Storage Inc., Annual General Meeting, May 21, 2025Extra Space Storage Inc., Annual General Meeting, May 21, 2025.お知らせ • Apr 01Extra Space Storage Inc. to Report Q1, 2025 Results on Apr 29, 2025Extra Space Storage Inc. announced that they will report Q1, 2025 results After-Market on Apr 29, 2025Declared Dividend • Mar 02Fourth quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 14th March 2025 Payment date: 31st March 2025 Dividend yield will be 4.3%, which is higher than the industry average of 4.0%.Reported Earnings • Feb 26Full year 2024 earnings released: EPS: US$4.04 (vs US$4.74 in FY 2023)Full year 2024 results: EPS: US$4.04. Revenue: US$3.26b (up 25% from FY 2023). Net income: US$854.7m (up 6.6% from FY 2023). Profit margin: 26% (down from 31% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Global Specialized REITs industry.お知らせ • Feb 26Extra Space Storage Inc. Provides Earnings Guidance for the Year Ending December 31, 2025Extra Space Storage Inc. provided earnings guidance for the year ending December 31, 2025. For the year ending December 31, 2025, the company expects net income attributable to common stockholders per diluted share of $4.38 to $4.68. Net income of $1,039,500,000 to $1,120,25,000. Total same-store net operating income of $1,871,750,000 to $1,936,500,000.お知らせ • Feb 22Extra Space Storage Inc. Announces First Quarter 2025 Dividend, Payable on March 31, 2025Extra Space Storage Inc. announced that the Company's board of directors has declared a first quarter 2025 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on March 31, 2025, to stockholders of record at the close of business on March 14, 2025.お知らせ • Jan 25Extra Space Storage Inc. to Report Q4, 2024 Results on Feb 25, 2025Extra Space Storage Inc. announced that they will report Q4, 2024 results on Feb 25, 2025Upcoming Dividend • Dec 09Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 16 December 2024. Payment date: 31 December 2024. Trailing yield: 4.0%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (3.6%).Declared Dividend • Nov 25Third quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 16th December 2024 Payment date: 31st December 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.0%.New Risk • Nov 20New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$1.4m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Significant insider selling over the past 3 months (US$1.4m sold).お知らせ • Nov 16Extra Space Storage Inc. Announces Dividend for the Fourth Quarter 2024, Payable on December 31, 2024Extra Space Storage Inc. announced that the Company's board of directors has declared a fourth quarter 2024 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on December 31, 2024, to stockholders of record at the close of business on December 16, 2024.Reported Earnings • Oct 30Third quarter 2024 earnings released: EPS: US$0.91 (vs US$0.96 in 3Q 2023)Third quarter 2024 results: EPS: US$0.91. Revenue: US$824.8m (up 8.1% from 3Q 2023). Net income: US$193.2m (up 2.7% from 3Q 2023). Profit margin: 23% (down from 25% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Global Specialized REITs industry.お知らせ • Sep 26Extra Space Storage Inc. to Report Q3, 2024 Results on Oct 29, 2024Extra Space Storage Inc. announced that they will report Q3, 2024 results After-Market on Oct 29, 2024Upcoming Dividend • Sep 10Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 16 September 2024. Payment date: 30 September 2024. Trailing yield: 3.7%. Lower than top quartile of British dividend payers (5.5%). In line with average of industry peers (3.6%).Declared Dividend • Aug 27Second quarter dividend of US$1.62 announcedShareholders will receive a dividend of US$1.62. Ex-date: 16th September 2024 Payment date: 30th September 2024 Dividend yield will be 3.7%, which is lower than the industry average of 4.0%.お知らせ • Aug 20Extra Space Storage Inc. Announces Third Quarter 2024 Dividend, Payable on September 30, 2024Extra Space Storage Inc. announced 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.Reported Earnings • Jul 31Second quarter 2024 earnings released: EPS: US$0.88 (vs US$1.50 in 2Q 2023)Second quarter 2024 results: EPS: US$0.88 (down from US$1.50 in 2Q 2023). Revenue: US$810.7m (up 55% from 2Q 2023). Net income: US$185.9m (down 8.0% from 2Q 2023). Profit margin: 23% (down from 39% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.New Risk • Jul 19New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).New Risk • Jul 15New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).New Risk • Jul 08New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).お知らせ • Jun 26Extra Space Storage Inc. to Report Q2, 2024 Results on Jul 30, 2024Extra Space Storage Inc. announced that they will report Q2, 2024 results After-Market on Jul 30, 2024New Risk • Jun 23New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).New Risk • Jun 11New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).New Risk • Jun 11New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).New Risk • Jun 03New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).Declared Dividend • Jun 03Dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 14th June 2024 Payment date: 28th June 2024 Dividend yield will be 4.5%, which is higher than the industry average of 4.0%.New Risk • May 12New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).Reported Earnings • May 01First quarter 2024 earnings released: EPS: US$1.01 (vs US$1.46 in 1Q 2023)First quarter 2024 results: EPS: US$1.01. Revenue: US$799.5m (up 56% from 1Q 2023). Net income: US$213.1m (up 8.7% from 1Q 2023). Profit margin: 27% (down from 38% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Global Specialized REITs industry.お知らせ • Apr 16Extra Space Storage Inc. has filed a Follow-on Equity Offering in the amount of $800 million.Extra Space Storage Inc. has filed a Follow-on Equity Offering in the amount of $800 million. Security Name: Common Stock Security Type: Common Stock Transaction Features: At the Market Offeringお知らせ • Apr 04Extra Space Storage Inc., Annual General Meeting, May 23, 2024Extra Space Storage Inc., Annual General Meeting, May 23, 2024, at 14:00 US Mountain Standard Time. Agenda: To consider Election of Directors; to consider Ratification of the engagement of Ernst & Young LLP as the Company's independent registered public accounting firm for 2024; and to consider Advisory vote to approve compensation of named executive officers.お知らせ • Mar 29Extra Space Storage Inc. to Report Q1, 2024 Results on Apr 30, 2024Extra Space Storage Inc. announced that they will report Q1, 2024 results After-Market on Apr 30, 2024Upcoming Dividend • Mar 07Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 14 March 2024. Payment date: 29 March 2024. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (6.3%). Higher than average of industry peers (3.9%).Reported Earnings • Feb 28Full year 2023 earnings released: EPS: US$4.75 (vs US$6.41 in FY 2022)Full year 2023 results: EPS: US$4.75 (down from US$6.41 in FY 2022). Revenue: US$2.56b (up 30% from FY 2022). Net income: US$803.2m (down 6.5% from FY 2022). Profit margin: 31% (down from 44% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year.New Risk • Feb 26New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).Declared Dividend • Feb 25Dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 14th March 2024 Payment date: 29th March 2024 Dividend yield will be 4.6%, which is higher than the industry average of 4.0%.お知らせ • Feb 23Extra Space Storage Inc. Announces First Quarter 2024 Dividend, Payable on March 29, 2024Extra Space Storage Inc. announced that the Company's board of directors has declared a first quarter 2024 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on March 29, 2024 to stockholders of record at the close of business on March 15, 2024.New Risk • Feb 19New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).New Risk • Feb 08New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).New Risk • Jan 29New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).お知らせ • Jan 27Extra Space Storage Inc. to Report Q4, 2023 Results on Feb 27, 2024Extra Space Storage Inc. announced that they will report Q4, 2023 results After-Market on Feb 27, 2024New Risk • Jan 22New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).Recent Insider Transactions • Dec 15Insider recently sold US$3.5m worth of stockOn the 13th of December, Joseph Saffire sold around 25k shares on-market at roughly US$142 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$4.5m more than they bought in the last 12 months.New Risk • Dec 11New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin).Upcoming Dividend • Dec 07Upcoming dividend of US$1.62 per share at 4.7% yieldEligible shareholders must have bought the stock before 14 December 2023. Payment date: 29 December 2023. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (6.0%). Higher than average of industry peers (4.0%).お知らせ • Nov 17Extra Space Storage Inc. Declares Fourth Quarter 2023 Dividend, Payable on December 29, 2023Extra Space Storage Inc. announced that the Company's board of directors has declared a fourth quarter 2023 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on December 29, 2023 to stockholders of record at the close of business on December 15, 2023.Reported Earnings • Nov 08Third quarter 2023 earnings released: EPS: US$0.96 (vs US$1.65 in 3Q 2022)Third quarter 2023 results: EPS: US$0.96 (down from US$1.65 in 3Q 2022). Revenue: US$748.0m (up 47% from 3Q 2022). Net income: US$188.4m (down 14% from 3Q 2022). Profit margin: 25% (down from 43% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.お知らせ • Oct 11Extra Space Storage Inc. to Report Q3, 2023 Results on Nov 07, 2023Extra Space Storage Inc. announced that they will report Q3, 2023 results After-Market on Nov 07, 2023Upcoming Dividend • Sep 07Upcoming dividend of US$0.61 per share at 5.1% yieldEligible shareholders must have bought the stock before 14 September 2023. Payment date: 29 September 2023. Trailing yield: 5.1%. Lower than top quartile of British dividend payers (6.3%). Higher than average of industry peers (4.1%).お知らせ • Aug 19Extra Space Storage Inc. Announces Second Dividend of the Third Quarter 2023, Payable on September 29, 2023Extra Space Storage Inc. announced that the Company's board of directors has declared a dividend of $0.61 per share of common stock to be paid on September 29, 2023 to stockholders of record at the close of business on September 15, 2023. In addition to this dividend of $0.61 per share of common stock, the Company previously paid a dividend of $1.01 per share of common stock on July 19, 2023 prior to its merger with Life Storage Inc. The pre-closing dividend was attributed to the total amount paid for the third quarter, so that between the pre-closing dividend of $1.01 per share and today's announced quarterly dividend of $0.61 per share to be paid, an EXR stockholder will receive a total dividend of $1.62 per share of common stock, consistent with the Company's second quarter 2023 dividend. It is anticipated that the Company's board of directors will return to its historical practice of paying a single quarterly dividend during the fourth quarter of 2023.New Risk • Aug 08New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (57% increase in shares outstanding).Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: US$1.50 (vs US$1.73 in 2Q 2022)Second quarter 2023 results: EPS: US$1.50 (down from US$1.73 in 2Q 2022). Revenue: US$511.4m (up 5.4% from 2Q 2022). Net income: US$202.4m (down 13% from 2Q 2022). Profit margin: 40% (down from 48% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.New Risk • Jul 31New minor risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (117% cash payout ratio).お知らせ • Jul 23Extra Space Storage Inc. Announces Board AppointmentsExtra Space Storage Inc. and Life Storage Inc. announced that the companies have completed their previously announced merger, following approval by the shareholders of both companies. The combined company is now the largest storage operator in the country (based on the number of self-storage locations) with over 3,500 locations, approximately 270 million square feet of rentable storage space, and over two million customers. The combined entity will be among the largest REITs in the MSCI U.S. REIT Index, with an enterprise value of approximately $46 billion. In connection with the completion of the merger, the Extra Space board has expanded from 10 to 13 directors with the addition of three new directors designated by Life Storage: Mark G. Barberio, Joseph V. Saffire, and Susan Harnett.お知らせ • Jul 07Extra Space Storage Inc. to Report Q2, 2023 Results on Aug 03, 2023Extra Space Storage Inc. announced that they will report Q2, 2023 results on Aug 03, 2023お知らせ • Jul 04Extra Space Storage Inc. Announces Dividend on Common Stock, Payable on July 19, 2023Extra Space Storage Inc. announced that the Company's board of directors has declared a dividend of $1.01 per share on the common stock of the Company, as permitted by the terms of the merger agreement the Company entered into with Life Storage Inc. The dividend is payable on July 19, 2023 to stockholders of record at the close of business on July 13, 2023.Upcoming Dividend • Jun 07Upcoming dividend of US$1.62 per share at 4.5% yieldEligible shareholders must have bought the stock before 14 June 2023. Payment date: 30 June 2023. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (4.0%).お知らせ • May 27Extra Space Storage Inc. Declares Dividend for the Second Quarter 2023, Payable on June 30, 2023Extra Space Storage Inc. announced that the Company's board of directors has declared a quarterly dividend of $1.62 per share on the common stock of the Company for the second quarter 2023. The dividend is payable on June 30, 2023 to stockholders of record at the close of business on June 15, 2023.お知らせ • May 04Extra Space Storage Inc. Provides Earnings Guidance for the Year Ending December 31, 2023Extra Space Storage Inc. provided earnings guidance for the year ending December 31, 2023. For the year, the company expects net income to be in the range of $870,750,000 to $906,100,000 and net income attributable to common stockholders per diluted share to be in the range of $5.66 to $5.96.Reported Earnings • May 03First quarter 2023 earnings released: EPS: US$1.46 (vs US$1.52 in 1Q 2022)First quarter 2023 results: EPS: US$1.46 (down from US$1.52 in 1Q 2022). Revenue: US$503.1m (up 11% from 1Q 2022). Net income: US$196.3m (down 3.4% from 1Q 2022). Profit margin: 39% (down from 45% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Apr 13Now 22% undervaluedOver the last 90 days, the stock is up 2.1%. The fair value is estimated to be US$202, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 29%. For the next 3 years, revenue is forecast to decline by 0.9% per annum. Earnings is forecast to grow by 3.9% per annum over the same time period.株主還元0IJVGB Specialized REITsGB 市場7D-0.8%-5.4%-0.3%1Y9.8%-16.4%18.3%株主還元を見る業界別リターン: 0IJV過去 1 年間で-16.4 % の収益を上げたUK Specialized REITs業界を上回りました。リターン対市場: 0IJVは、過去 1 年間で18.3 % のリターンを上げたUK市場を下回りました。価格変動Is 0IJV's price volatile compared to industry and market?0IJV volatility0IJV Average Weekly Movement3.2%Specialized REITs Industry Average Movement3.3%Market Average Movement5.1%10% most volatile stocks in GB Market10.4%10% least volatile stocks in GB Market2.7%安定した株価: 0IJV 、 UK市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 0IJVの 週次ボラティリティ ( 3% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト19778,393Joe Margoliswww.extraspace.comユタ州ソルトレイクシティに本社を置くエクストラ・スペース・ストレージ社（Extra Space Storage Inc.）は、自主運営・自主管理型の不動産投資信託（REIT）であり、S&P 500構成銘柄の一つです。 2026年6月30日現在、同社は全米42州およびワシントンD C.において、4,410か所のセルフストレージ施設を所有および／または運営しています。 同社の施設は、「エクストラ・スペース（Extra Space）」ブランドの下で運営されており、約300万ユニット、賃貸可能面積は約3億4,100万平方フィートに及びます。 同社は、ボート用、RV用、ビジネス用を含む、利便性の高い立地とセキュリティが確保された幅広い種類のストレージユニットを全米各地で顧客に提供しています。同社は、米国最大のセルフストレージ施設運営会社です。エクストラ・スペース・ストレージ社は、1977年に米国メリーランド州で設立されました。もっと見るExtra Space Storage Inc. 基礎のまとめExtra Space Storage の収益と売上を時価総額と比較するとどうか。0IJV 基礎統計学時価総額US$32.38b収益（TTM）US$956.07m売上高(TTM)US$3.51b32.4xPER（株価収益率8.8xP/Sレシオ0IJV は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計0IJV 損益計算書（TTM）収益US$3.51b売上原価US$880.63m売上総利益US$2.63bその他の費用US$1.67b収益US$956.07m直近の収益報告Jun 30, 2026次回決算日該当なし一株当たり利益（EPS）4.53グロス・マージン74.92%純利益率27.23%有利子負債／自己資本比率96.3%0IJV の長期的なパフォーマンスは？過去の実績と比較を見る配当金4.4%現在の配当利回り77%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/08/13 21:39終値2026/08/13 00:00収益2026/06/30年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Extra Space Storage Inc. 11 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。41 アナリスト機関Richard MilliganBairdBrendan LynchBarclaysKeegan CarlBerenberg38 その他のアナリストを表示
New Risk • Jul 31New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company.
Buy Or Sell Opportunity • Jul 30Now 21% undervaluedOver the last 90 days, the stock has risen 3.0% to US$147. The fair value is estimated to be US$187, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 5.6%. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings are also forecast to grow by 4.9% per annum over the same time period.
Reported Earnings • Jul 29Second quarter 2026 earnings released: EPS: US$1.25 (vs US$1.18 in 2Q 2025)Second quarter 2026 results: EPS: US$1.25 (up from US$1.18 in 2Q 2025). Revenue: US$874.2m (up 1.9% from 2Q 2025). Net income: US$263.5m (up 5.7% from 2Q 2025). Profit margin: 30% (up from 29% in 2Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 6.9% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
お知らせ • Jul 29Extra Space Storage Inc. Revises Earnings Guidance for the Year Ending December 31, 2026Extra Space Storage Inc. revised earnings guidance for the year ending December 31, 2026. For the year, the company anticipates Same-store revenue growth to be 1% to 2% compared to previous guidance of negative 0.5% to positive 1.5%. Same-store NOI growth to be 0.5% to 2.5% compared to previous guidance of negative 2.25% to positive 1.25%. Net income attributable to common stockholders per diluted share to be in range of $4.49 to $4.64. Net Income to be in range of $1,037,750,000 to $1,085,650,000.
お知らせ • Jul 01Extra Space Storage Inc. to Report Q2, 2026 Results on Jul 28, 2026Extra Space Storage Inc. announced that they will report Q2, 2026 results After-Market on Jul 28, 2026
Upcoming Dividend • Jun 08Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 15 June 2026. Payment date: 30 June 2026. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (3.9%).
New Risk • Jul 31New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company.
Buy Or Sell Opportunity • Jul 30Now 21% undervaluedOver the last 90 days, the stock has risen 3.0% to US$147. The fair value is estimated to be US$187, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has declined by 5.6%. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings are also forecast to grow by 4.9% per annum over the same time period.
Reported Earnings • Jul 29Second quarter 2026 earnings released: EPS: US$1.25 (vs US$1.18 in 2Q 2025)Second quarter 2026 results: EPS: US$1.25 (up from US$1.18 in 2Q 2025). Revenue: US$874.2m (up 1.9% from 2Q 2025). Net income: US$263.5m (up 5.7% from 2Q 2025). Profit margin: 30% (up from 29% in 2Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 6.9% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings.
お知らせ • Jul 29Extra Space Storage Inc. Revises Earnings Guidance for the Year Ending December 31, 2026Extra Space Storage Inc. revised earnings guidance for the year ending December 31, 2026. For the year, the company anticipates Same-store revenue growth to be 1% to 2% compared to previous guidance of negative 0.5% to positive 1.5%. Same-store NOI growth to be 0.5% to 2.5% compared to previous guidance of negative 2.25% to positive 1.25%. Net income attributable to common stockholders per diluted share to be in range of $4.49 to $4.64. Net Income to be in range of $1,037,750,000 to $1,085,650,000.
お知らせ • Jul 01Extra Space Storage Inc. to Report Q2, 2026 Results on Jul 28, 2026Extra Space Storage Inc. announced that they will report Q2, 2026 results After-Market on Jul 28, 2026
Upcoming Dividend • Jun 08Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 15 June 2026. Payment date: 30 June 2026. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (3.9%).
Board Change • Jun 01High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Director Crystal Maggelet was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Declared Dividend • May 25First quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 15th June 2026 Payment date: 30th June 2026 Dividend yield will be 4.5%, which is higher than the industry average of 4.0%.
お知らせ • May 22Extra Space Storage Inc. Announces Board and Committee Appointments, Effective May 14, 2026At the Extra Space Storage Inc. announced at its 2026 Annual Meeting of Shareholders held on May 14, 2026, Crystal Call Maggelet and RJ Pittman were elected to the board of directors. The addition of these new board members reflects Extra Space's ongoing commitment to regular board refreshment and the integration of high-caliber leadership with expertise in real estate, retail operations strategy, and technological innovation. Crystal Call Maggelet brings extensive experience in managing large-scale, multi-unit retail properties and executing complex operational strategies. She serves as the CEO and Chairperson of FJ Management Inc., a diversified family business including Maverik, an 850+ c-store chain and two fuel transportation divisions, Big West Oil, and TAB Bank. Additionally, Maggelet founded the Crystal Inn hotel chain in 1993 and serves as its Managing Director. Her robust background in corporate governance includes previous board roles at Savage Services, Intermountain Health and Pilot Flying J. She holds a bachelor's degree in Business Administration from Pepperdine University and earned a Master of Business Administration from Harvard Business School. RJ Pittman joins the team as a premier technology pioneer with a proven track record of leading digital transformation and advancing artificial intelligence, machine learning, and data science. Pittman served as the CEO and Chairman of the Board of Matterport, a spatial data company and technology platform in real estate, from 2018 to 2025. Prior to Matterport, he served as eBay's first Chief Product Officer and held senior roles at Apple and Google where he led international e-commerce platforms and web search properties. He holds a Bachelor of Science in Computer Engineering from the University of Michigan and a Master of Science in Engineering-Economic Systems from Stanford. Ms. Maggelet will serve as a member of the Nominating, Governance, & Corporate Responsibility Committee and Mr. Pittman will serve as a member of the Audit Committee.
お知らせ • May 16Extra Space Storage Inc. Announces Second Quarter 2026 Dividend, Payable on June 30, 2026Extra Space Storage Inc. announced that the Company's board of directors has declared a second quarter 2026 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on June 30, 2026, to stockholders of record at the close of business on June 15, 2026.
Reported Earnings • Apr 29First quarter 2026 earnings released: EPS: US$1.14 (vs US$1.28 in 1Q 2025)First quarter 2026 results: EPS: US$1.14 (down from US$1.28 in 1Q 2025). Revenue: US$856.0m (up 1.9% from 1Q 2025). Net income: US$241.0m (down 11% from 1Q 2025). Profit margin: 28% (down from 32% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.4% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
お知らせ • Apr 03Extra Space Storage Inc., Annual General Meeting, May 14, 2026Extra Space Storage Inc., Annual General Meeting, May 14, 2026.
お知らせ • Mar 31Extra Space Storage Inc. to Report Q1, 2026 Results on Apr 28, 2026Extra Space Storage Inc. announced that they will report Q1, 2026 results After-Market on Apr 28, 2026
Recent Insider Transactions • Mar 22CEO & Director recently sold US$1.1m worth of stockOn the 13th of March, Joseph Margolis sold around 8k shares on-market at roughly US$142 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Joseph's only on-market trade for the last 12 months.
Upcoming Dividend • Mar 09Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 16 March 2026. Payment date: 31 March 2026. Trailing yield: 4.4%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (3.9%).
Declared Dividend • Feb 22Fourth quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 16th March 2026 Payment date: 31st March 2026 Dividend yield will be 4.3%, which is higher than the industry average of 4.0%.
Reported Earnings • Feb 21Full year 2025 earnings released: FFO per share: US$8.3 (vs US$7.93 in FY 2024)Full year 2025 results: FFO per share: US$8.3 (up from US$7.93 in FY 2024). Revenue: US$3.50b (up 4.9% from FY 2024). Funds from operations (FFO): US$1.75b (up 4.5% from FY 2024). FFO margin: 50% (in line with FY 2024). Revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 14Extra Space Storage Inc. Announces First Quarter 2026 Dividend, Payable on March 31, 2026Extra Space Storage Inc. announced that the Company's board of directors has declared a first quarter 2026 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on March 31, 2026, to stockholders of record at the close of business on March 16, 2026.
お知らせ • Jan 21Extra Space Storage Inc. to Report Q4, 2025 Results on Feb 19, 2026Extra Space Storage Inc. announced that they will report Q4, 2025 results After-Market on Feb 19, 2026
Buy Or Sell Opportunity • Jan 13Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 6.7% to US$140. The fair value is estimated to be US$175, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has declined by 18%. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings are also forecast to grow by 6.8% per annum over the same time period.
お知らせ • Jan 06Extra Space Storage Inc. Announces Promotion of Noah Springer to President, Effective January 5, 2026Extra Space Storage Inc. announced that the Board of Directors of Extra Space Storage has promoted Noah Springer, the Company's current Executive Vice President, Chief Strategy and Partnership Officer, to President, effective January 5, 2026. Mr. Springer currently is responsible for the Company's third-party management program, joint ventures, human resources department and other strategic initiatives. With Mr. Springer's promotion to President, the Company's operations function will also report to Mr. Springer. Mr. Springer joined Extra Space Storage in 2006 after several years in the banking industry. During his time at the Company, he has served in various roles in acquisitions, asset management and third-party management. Mr. Springer helped develop, lead and grow the Company's third-party management platform, Management Plus, which today is the storage sector's largest third-party management platform with over 1,800 locations. In addition, Mr. Springer has overseen the Company's asset management, construction, and human resources departments. Mr. Springer has been a member of the Company's senior management team since 2014, and a member of the Company's executive team since 2020. Mr. Springer holds a B.A. in Finance and an M.B.A. from the University of Utah.
Upcoming Dividend • Dec 08Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 15 December 2025. Payment date: 31 December 2025. Trailing yield: 5.0%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (4.2%).
Declared Dividend • Nov 24Third quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 15th December 2025 Payment date: 31st December 2025 Dividend yield will be 4.9%, which is higher than the industry average of 4.0%.
お知らせ • Nov 21Extra Space Storage Inc. Announces Dividend for the Fourth Quarter 2025, Payable on December 31, 2025Extra Space Storage Inc. announced that the Company's board of directors has declared a fourth quarter 2025 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on December 31, 2025, to stockholders of record at the close of business on December 15, 2025.
Reported Earnings • Oct 30Third quarter 2025 earnings released: EPS: US$0.78 (vs US$0.91 in 3Q 2024)Third quarter 2025 results: EPS: US$0.78 (down from US$0.91 in 3Q 2024). Revenue: US$858.5m (flat on 3Q 2024). Net income: US$166.0m (down 14% from 3Q 2024). Profit margin: 19% (down from 23% in 3Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
お知らせ • Oct 30Extra Space Storage Inc. Revises Earnings Guidance for the Year Ending December 31, 2025Extra Space Storage Inc. revised earnings guidance for the Year Ending December 31, 2025 . For the year, the company anticipates Same-store revenue growth to be negative 0.25% to positive 0.25% compared to previous guidance of negative 0.5% to positive 1%. Same-store NOI growth to be negative 2.25% to 1.25% compared to previous guidance of negative 2.75% to positive 0.00%.Net income attributable to common stockholders per diluted share to be in range of $4.16 to $4.24. Net Income to be in range of $1,037,636,000 to $1,064,636,000.
お知らせ • Sep 25Extra Space Storage Inc. to Report Q3, 2025 Results on Oct 29, 2025Extra Space Storage Inc. announced that they will report Q3, 2025 results After-Market on Oct 29, 2025
Upcoming Dividend • Sep 08Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 15 September 2025. Payment date: 30 September 2025. Trailing yield: 4.4%. Lower than top quartile of British dividend payers (5.5%). Higher than average of industry peers (3.9%).
Declared Dividend • Aug 25Second quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 15th September 2025 Payment date: 30th September 2025 Dividend yield will be 4.6%, which is higher than the industry average of 4.0%.
お知らせ • Aug 22Extra Space Storage Inc. Declares Dividend for the Third Quarter of 2025, Payable on September 30, 2025Extra Space Storage Inc. announced that the Company's board of directors has declared a third quarter 2025 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on September 30, 2025, to stockholders of record at the close of business on September 15, 2025.
Reported Earnings • Jul 31Second quarter 2025 earnings released: EPS: US$1.18 (vs US$0.88 in 2Q 2024)Second quarter 2025 results: EPS: US$1.18 (up from US$0.88 in 2Q 2024). Revenue: US$841.6m (up 1.7% from 2Q 2024). Net income: US$249.7m (up 35% from 2Q 2024). Profit margin: 30% (up from 22% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.7% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
お知らせ • Jun 25Extra Space Storage Inc. to Report Q2, 2025 Results on Jul 30, 2025Extra Space Storage Inc. announced that they will report Q2, 2025 results After-Market on Jul 30, 2025
Upcoming Dividend • Jun 09Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 16 June 2025. Payment date: 30 June 2025. Trailing yield: 4.3%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (3.7%).
Declared Dividend • May 26First quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 16th June 2025 Payment date: 30th June 2025 Dividend yield will be 4.5%, which is higher than the industry average of 4.0%.
お知らせ • May 23Extra Space Storage Inc. Announces Second Quarter 2025 Dividend, Payable on June 30, 2025Extra Space Storage Inc. announced that the Company's board of directors has declared a second quarter 2025 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on June 30, 2025, to stockholders of record at the close of business on June 16, 2025.
New Risk • May 14New minor risk - Dividend sustainabilityThe dividend is not well covered by earnings. Payout ratio: 151% Dividend yield: 4.4% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risk Dividend is not well covered by earnings (151% payout ratio).
Reported Earnings • Apr 30First quarter 2025 earnings released: EPS: US$1.28 (vs US$1.01 in 1Q 2024)First quarter 2025 results: EPS: US$1.28 (up from US$1.01 in 1Q 2024). Revenue: US$820.0m (flat on 1Q 2024). Net income: US$270.9m (up 27% from 1Q 2024). Profit margin: 33% (up from 26% in 1Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • Apr 09Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$124, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 18x in the Specialized REITs industry globally. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$207 per share.
お知らせ • Apr 03Extra Space Storage Inc., Annual General Meeting, May 21, 2025Extra Space Storage Inc., Annual General Meeting, May 21, 2025.
お知らせ • Apr 01Extra Space Storage Inc. to Report Q1, 2025 Results on Apr 29, 2025Extra Space Storage Inc. announced that they will report Q1, 2025 results After-Market on Apr 29, 2025
Declared Dividend • Mar 02Fourth quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 14th March 2025 Payment date: 31st March 2025 Dividend yield will be 4.3%, which is higher than the industry average of 4.0%.
Reported Earnings • Feb 26Full year 2024 earnings released: EPS: US$4.04 (vs US$4.74 in FY 2023)Full year 2024 results: EPS: US$4.04. Revenue: US$3.26b (up 25% from FY 2023). Net income: US$854.7m (up 6.6% from FY 2023). Profit margin: 26% (down from 31% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Global Specialized REITs industry.
お知らせ • Feb 26Extra Space Storage Inc. Provides Earnings Guidance for the Year Ending December 31, 2025Extra Space Storage Inc. provided earnings guidance for the year ending December 31, 2025. For the year ending December 31, 2025, the company expects net income attributable to common stockholders per diluted share of $4.38 to $4.68. Net income of $1,039,500,000 to $1,120,25,000. Total same-store net operating income of $1,871,750,000 to $1,936,500,000.
お知らせ • Feb 22Extra Space Storage Inc. Announces First Quarter 2025 Dividend, Payable on March 31, 2025Extra Space Storage Inc. announced that the Company's board of directors has declared a first quarter 2025 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on March 31, 2025, to stockholders of record at the close of business on March 14, 2025.
お知らせ • Jan 25Extra Space Storage Inc. to Report Q4, 2024 Results on Feb 25, 2025Extra Space Storage Inc. announced that they will report Q4, 2024 results on Feb 25, 2025
Upcoming Dividend • Dec 09Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 16 December 2024. Payment date: 31 December 2024. Trailing yield: 4.0%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (3.6%).
Declared Dividend • Nov 25Third quarter dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 16th December 2024 Payment date: 31st December 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.0%.
New Risk • Nov 20New minor risk - Insider sellingThere has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$1.4m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Significant insider selling over the past 3 months (US$1.4m sold).
お知らせ • Nov 16Extra Space Storage Inc. Announces Dividend for the Fourth Quarter 2024, Payable on December 31, 2024Extra Space Storage Inc. announced that the Company's board of directors has declared a fourth quarter 2024 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on December 31, 2024, to stockholders of record at the close of business on December 16, 2024.
Reported Earnings • Oct 30Third quarter 2024 earnings released: EPS: US$0.91 (vs US$0.96 in 3Q 2023)Third quarter 2024 results: EPS: US$0.91. Revenue: US$824.8m (up 8.1% from 3Q 2023). Net income: US$193.2m (up 2.7% from 3Q 2023). Profit margin: 23% (down from 25% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Global Specialized REITs industry.
お知らせ • Sep 26Extra Space Storage Inc. to Report Q3, 2024 Results on Oct 29, 2024Extra Space Storage Inc. announced that they will report Q3, 2024 results After-Market on Oct 29, 2024
Upcoming Dividend • Sep 10Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 16 September 2024. Payment date: 30 September 2024. Trailing yield: 3.7%. Lower than top quartile of British dividend payers (5.5%). In line with average of industry peers (3.6%).
Declared Dividend • Aug 27Second quarter dividend of US$1.62 announcedShareholders will receive a dividend of US$1.62. Ex-date: 16th September 2024 Payment date: 30th September 2024 Dividend yield will be 3.7%, which is lower than the industry average of 4.0%.
お知らせ • Aug 20Extra Space Storage Inc. Announces Third Quarter 2024 Dividend, Payable on September 30, 2024Extra Space Storage Inc. announced 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.
Reported Earnings • Jul 31Second quarter 2024 earnings released: EPS: US$0.88 (vs US$1.50 in 2Q 2023)Second quarter 2024 results: EPS: US$0.88 (down from US$1.50 in 2Q 2023). Revenue: US$810.7m (up 55% from 2Q 2023). Net income: US$185.9m (down 8.0% from 2Q 2023). Profit margin: 23% (down from 39% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings.
New Risk • Jul 19New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).
New Risk • Jul 15New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).
New Risk • Jul 08New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).
お知らせ • Jun 26Extra Space Storage Inc. to Report Q2, 2024 Results on Jul 30, 2024Extra Space Storage Inc. announced that they will report Q2, 2024 results After-Market on Jul 30, 2024
New Risk • Jun 23New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).
New Risk • Jun 11New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).
New Risk • Jun 11New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).
New Risk • Jun 03New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).
Declared Dividend • Jun 03Dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 14th June 2024 Payment date: 28th June 2024 Dividend yield will be 4.5%, which is higher than the industry average of 4.0%.
New Risk • May 12New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (28% net profit margin).
Reported Earnings • May 01First quarter 2024 earnings released: EPS: US$1.01 (vs US$1.46 in 1Q 2023)First quarter 2024 results: EPS: US$1.01. Revenue: US$799.5m (up 56% from 1Q 2023). Net income: US$213.1m (up 8.7% from 1Q 2023). Profit margin: 27% (down from 38% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Global Specialized REITs industry.
お知らせ • Apr 16Extra Space Storage Inc. has filed a Follow-on Equity Offering in the amount of $800 million.Extra Space Storage Inc. has filed a Follow-on Equity Offering in the amount of $800 million. Security Name: Common Stock Security Type: Common Stock Transaction Features: At the Market Offering
お知らせ • Apr 04Extra Space Storage Inc., Annual General Meeting, May 23, 2024Extra Space Storage Inc., Annual General Meeting, May 23, 2024, at 14:00 US Mountain Standard Time. Agenda: To consider Election of Directors; to consider Ratification of the engagement of Ernst & Young LLP as the Company's independent registered public accounting firm for 2024; and to consider Advisory vote to approve compensation of named executive officers.
お知らせ • Mar 29Extra Space Storage Inc. to Report Q1, 2024 Results on Apr 30, 2024Extra Space Storage Inc. announced that they will report Q1, 2024 results After-Market on Apr 30, 2024
Upcoming Dividend • Mar 07Upcoming dividend of US$1.62 per shareEligible shareholders must have bought the stock before 14 March 2024. Payment date: 29 March 2024. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (6.3%). Higher than average of industry peers (3.9%).
Reported Earnings • Feb 28Full year 2023 earnings released: EPS: US$4.75 (vs US$6.41 in FY 2022)Full year 2023 results: EPS: US$4.75 (down from US$6.41 in FY 2022). Revenue: US$2.56b (up 30% from FY 2022). Net income: US$803.2m (down 6.5% from FY 2022). Profit margin: 31% (down from 44% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year.
New Risk • Feb 26New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).
Declared Dividend • Feb 25Dividend of US$1.62 announcedDividend of US$1.62 is the same as last year. Ex-date: 14th March 2024 Payment date: 29th March 2024 Dividend yield will be 4.6%, which is higher than the industry average of 4.0%.
お知らせ • Feb 23Extra Space Storage Inc. Announces First Quarter 2024 Dividend, Payable on March 29, 2024Extra Space Storage Inc. announced that the Company's board of directors has declared a first quarter 2024 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on March 29, 2024 to stockholders of record at the close of business on March 15, 2024.
New Risk • Feb 19New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).
New Risk • Feb 08New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).
New Risk • Jan 29New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).
お知らせ • Jan 27Extra Space Storage Inc. to Report Q4, 2023 Results on Feb 27, 2024Extra Space Storage Inc. announced that they will report Q4, 2023 results After-Market on Feb 27, 2024
New Risk • Jan 22New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin). Significant insider selling over the past 3 months (US$7.4m sold).
Recent Insider Transactions • Dec 15Insider recently sold US$3.5m worth of stockOn the 13th of December, Joseph Saffire sold around 25k shares on-market at roughly US$142 per share. This transaction amounted to 27% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$4.5m more than they bought in the last 12 months.
New Risk • Dec 11New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Profit margins are more than 30% lower than last year (34% net profit margin).
Upcoming Dividend • Dec 07Upcoming dividend of US$1.62 per share at 4.7% yieldEligible shareholders must have bought the stock before 14 December 2023. Payment date: 29 December 2023. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (6.0%). Higher than average of industry peers (4.0%).
お知らせ • Nov 17Extra Space Storage Inc. Declares Fourth Quarter 2023 Dividend, Payable on December 29, 2023Extra Space Storage Inc. announced that the Company's board of directors has declared a fourth quarter 2023 dividend of $1.62 per share on the common stock of the Company. The dividend is payable on December 29, 2023 to stockholders of record at the close of business on December 15, 2023.
Reported Earnings • Nov 08Third quarter 2023 earnings released: EPS: US$0.96 (vs US$1.65 in 3Q 2022)Third quarter 2023 results: EPS: US$0.96 (down from US$1.65 in 3Q 2022). Revenue: US$748.0m (up 47% from 3Q 2022). Net income: US$188.4m (down 14% from 3Q 2022). Profit margin: 25% (down from 43% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has remained flat, which means it is significantly lagging earnings.
お知らせ • Oct 11Extra Space Storage Inc. to Report Q3, 2023 Results on Nov 07, 2023Extra Space Storage Inc. announced that they will report Q3, 2023 results After-Market on Nov 07, 2023
Upcoming Dividend • Sep 07Upcoming dividend of US$0.61 per share at 5.1% yieldEligible shareholders must have bought the stock before 14 September 2023. Payment date: 29 September 2023. Trailing yield: 5.1%. Lower than top quartile of British dividend payers (6.3%). Higher than average of industry peers (4.1%).
お知らせ • Aug 19Extra Space Storage Inc. Announces Second Dividend of the Third Quarter 2023, Payable on September 29, 2023Extra Space Storage Inc. announced that the Company's board of directors has declared a dividend of $0.61 per share of common stock to be paid on September 29, 2023 to stockholders of record at the close of business on September 15, 2023. In addition to this dividend of $0.61 per share of common stock, the Company previously paid a dividend of $1.01 per share of common stock on July 19, 2023 prior to its merger with Life Storage Inc. The pre-closing dividend was attributed to the total amount paid for the third quarter, so that between the pre-closing dividend of $1.01 per share and today's announced quarterly dividend of $0.61 per share to be paid, an EXR stockholder will receive a total dividend of $1.62 per share of common stock, consistent with the Company's second quarter 2023 dividend. It is anticipated that the Company's board of directors will return to its historical practice of paying a single quarterly dividend during the fourth quarter of 2023.
New Risk • Aug 08New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (57% increase in shares outstanding).
Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: US$1.50 (vs US$1.73 in 2Q 2022)Second quarter 2023 results: EPS: US$1.50 (down from US$1.73 in 2Q 2022). Revenue: US$511.4m (up 5.4% from 2Q 2022). Net income: US$202.4m (down 13% from 2Q 2022). Profit margin: 40% (down from 48% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth.
New Risk • Jul 31New minor risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risk Dividend is not well covered by cash flows (117% cash payout ratio).
お知らせ • Jul 23Extra Space Storage Inc. Announces Board AppointmentsExtra Space Storage Inc. and Life Storage Inc. announced that the companies have completed their previously announced merger, following approval by the shareholders of both companies. The combined company is now the largest storage operator in the country (based on the number of self-storage locations) with over 3,500 locations, approximately 270 million square feet of rentable storage space, and over two million customers. The combined entity will be among the largest REITs in the MSCI U.S. REIT Index, with an enterprise value of approximately $46 billion. In connection with the completion of the merger, the Extra Space board has expanded from 10 to 13 directors with the addition of three new directors designated by Life Storage: Mark G. Barberio, Joseph V. Saffire, and Susan Harnett.
お知らせ • Jul 07Extra Space Storage Inc. to Report Q2, 2023 Results on Aug 03, 2023Extra Space Storage Inc. announced that they will report Q2, 2023 results on Aug 03, 2023
お知らせ • Jul 04Extra Space Storage Inc. Announces Dividend on Common Stock, Payable on July 19, 2023Extra Space Storage Inc. announced that the Company's board of directors has declared a dividend of $1.01 per share on the common stock of the Company, as permitted by the terms of the merger agreement the Company entered into with Life Storage Inc. The dividend is payable on July 19, 2023 to stockholders of record at the close of business on July 13, 2023.
Upcoming Dividend • Jun 07Upcoming dividend of US$1.62 per share at 4.5% yieldEligible shareholders must have bought the stock before 14 June 2023. Payment date: 30 June 2023. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (4.0%).
お知らせ • May 27Extra Space Storage Inc. Declares Dividend for the Second Quarter 2023, Payable on June 30, 2023Extra Space Storage Inc. announced that the Company's board of directors has declared a quarterly dividend of $1.62 per share on the common stock of the Company for the second quarter 2023. The dividend is payable on June 30, 2023 to stockholders of record at the close of business on June 15, 2023.
お知らせ • May 04Extra Space Storage Inc. Provides Earnings Guidance for the Year Ending December 31, 2023Extra Space Storage Inc. provided earnings guidance for the year ending December 31, 2023. For the year, the company expects net income to be in the range of $870,750,000 to $906,100,000 and net income attributable to common stockholders per diluted share to be in the range of $5.66 to $5.96.
Reported Earnings • May 03First quarter 2023 earnings released: EPS: US$1.46 (vs US$1.52 in 1Q 2022)First quarter 2023 results: EPS: US$1.46 (down from US$1.52 in 1Q 2022). Revenue: US$503.1m (up 11% from 1Q 2022). Net income: US$196.3m (down 3.4% from 1Q 2022). Profit margin: 39% (down from 45% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Apr 13Now 22% undervaluedOver the last 90 days, the stock is up 2.1%. The fair value is estimated to be US$202, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 29%. For the next 3 years, revenue is forecast to decline by 0.9% per annum. Earnings is forecast to grow by 3.9% per annum over the same time period.
