Extra Space Storage (EXR) Sector
Real Estate

(Current) $142.58
-0.79 (-0.55%) Open Price: 142.58


Extra Space Storage is a publicly-traded real estate investment trust (REIT) that operates in the self-storage industry. The company was founded in 1977 as Storage Time and has since undergone several name changes before adopting its current name in 1998. Extra Space Storage is headquartered in Salt Lake City, Utah, and has over 1,900 self-storage facilities in 40 states, Washington D.C., and Puerto Rico.


Extra Space Storage offers a range of self-storage solutions, including traditional storage units, climate-controlled units, and vehicle storage. The company serves both residential and commercial customers, including small businesses, individuals, and families. Customers can rent storage units online, and Extra Space Storage offers flexible leasing terms and a variety of payment options.


Extra Space Storage went public in August 2004, trading on the New York Stock Exchange (NYSE) under the ticker symbol EXR. Since then, the company has become one of the largest self-storage REITs in the United States, with a market capitalization of over $25 billion as of May 2021. In 2020, the company reported revenues of $1.4 billion, with a net income of $414.8 million.


In addition to its core self-storage business, Extra Space Storage has also made several strategic investments in the industry. In 2015, the company formed a joint venture with the Canadian pension fund CPPIB to acquire a portfolio of self-storage assets in the United States. The joint venture, called SmartStop Self Storage REIT, was later spun off as a separate publicly-traded REIT. Extra Space Storage also acquired several smaller self-storage operators, such as Storage USA and Storage Deluxe, to expand its geographic footprint.


Extra Space Storage has received several awards and accolades for its corporate culture and workplace environment. The company has been named one of the best places to work in Utah by Utah Business Magazine and one of the best workplaces in the United States by Fortune magazine. Extra Space Storage has also been recognized for its commitment to sustainability, earning LEED certifications for several of its facilities and implementing energy-efficient technologies in its operations.



(05/24/24) $142.58
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