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Extra Space Storage (EXR) investor relations material

Extra Space Storage Company Presentation summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Company Presentation summary8 Dec, 2025

Company overview and growth

  • Operates 4,238 properties with over 326 million sq ft of rentable space and 94.1% Q3 2025 same-store occupancy.

  • Achieved 168.3% 10-year total shareholder return and has been an S&P 500 member since 2015.

  • Equity market cap stands at $31.7 billion with a net debt to EBITDA of 5.2x and investment-grade credit ratings.

  • Largest and fastest-growing third-party management platform with 1,811 managed properties as of September 2025.

  • Consistent and balanced growth through wholly owned, joint venture, and managed stores.

Industry dynamics and demand drivers

  • Self storage is a resilient, recession-resistant asset class with growing demand and increasing customer stay duration.

  • U.S. household storage utilization rose from 2.7% in 1987 to 12.6% in 2023.

  • Industry remains highly fragmented, offering significant consolidation opportunities for large operators.

  • Top 2 performing REIT sector since 2004, with sector-leading total returns.

  • Consistent returns supported by high operating margins and low capex requirements.

Operational performance and financials

  • Sector-leading same-store revenue and NOI growth in 2025 compared to peers.

  • 2025 Q3 same-store revenue growth: 5.8% for EXR, outperforming major competitors.

  • Core FFO per share growth and total return among the highest in the REIT sector.

  • 20-year compound annual dividend growth rate of 10.3%.

  • Strong balance sheet with $45.7 billion enterprise value and improved leverage ratios since 2019.

Explain the strategy behind move-in/out rate gap?
How does moderating new supply benefit EXR?
What drives the 2025 Same-Store NOI decline?
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Next Extra Space Storage earnings date

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Q4 202525 Feb, 2026
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One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
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Frequently asked questions

Extra Space Storage Inc is a real estate investment trust that acquires, develops, and operates self-storage properties. The company offers storage units for personal, business, and vehicle use, with services provided through physical locations and digital platforms. Extra Space Storage Inc is headquartered in Salt Lake City, Utah, and its shares are listed on the NYSE.

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