---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-014876"
form_type: "8-K"
ticker: "EXR"
cik: "0001289490"
company_name: "Extra Space Storage Inc."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T02:51:50.672760+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Extra Space Storage Q1 FFO $2.02/diluted, same-store NOI +8.7% YoY; Life Storage merger on track

## Summary
- Net income $1.46/diluted share (down 3.3% YoY); Core FFO $2.02/share (up 0.5% YoY).
- Same-store revenue +7.4%, NOI +8.7%; occupancy 93.5% vs 94.3% a year ago.
- Announced $12.7B all-stock merger with Life Storage (0.895 shares per LSI share), expected H2 2023.
- Paid Q1 dividend $1.62/share, up 8% from prior quarter; $500M 5.7% notes due 2028 issued.
- Invested $150M in SmartStop convertible preferred (8.35% rate); 2023 Core FFO guidance reaffirmed $8.30-$8.60.

## SEC filing metadata
- accession: 0001628280-23-014876
- form_type: 8-K
- ticker: EXR
- cik: 0001289490
- company_name: Extra Space Storage Inc.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1289490/000162828023014876/0001628280-23-014876-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1289490/000162828023014876/exr-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-014876
- JSON: https://secwatch.observer/filing/0001628280-23-014876.json
- Plain text: https://secwatch.observer/filing/0001628280-23-014876.txt

## Key facts
- Earnings Releases
  Extra Space Storage Inc. reported financial results for the three months ended March 31, 2023.
  - Period: the three months ended March 31, 2023
  - Result: reported results
  source text: Extra Space Storage Inc. (the “Company”) issued a press release announcing its financial results for the three months ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1289490/000162828023014876/0001628280-23-014876-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.