secwatch.observer — SEC 8-K summary
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Issuer:     Extra Space Storage Inc. (EXR)
CIK:        0001289490
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001628280-24-007229
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Extra Space Storage Q4 Core FFO $2.02/sh, down 3.3% YoY; FY24 guidance $7.85-$8.15
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- Q4 net income $1.02 per diluted share, down 32.9% YoY; Core FFO $2.02 per share, down 3.3%.
- Same-store revenue +0.8%, NOI -0.1%; occupancy 93.0% vs 94.1% prior year.
- Closed $11.6B Life Storage merger in July 2023, adding 1,200+ stores; integration costs $30.6M in Q4.
- FY2024 Core FFO guidance $7.85-$8.15; EXR legacy same-store NOI growth -4.25% to -0.50%.
- Issued $600M 5.9% notes due 2031 and $600M 5.4% notes due 2034 subsequent to Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1289490/000162828024007229/0001628280-24-007229-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1289490/000162828024007229/exr-20240227.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-007229

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer