Highest-materiality recent filing
Extra Space CEO Margolis to retire Dec 31; President Springer to become CEO Jan 1, 2027
Joseph Margolis retires as CEO effective Dec 31, 2026; remains as advisor to the board.
Extra Space Storage Q2 Core FFO $2.15, up 4.9% YoY; raises 2026 guidance
Core FFO per diluted share $2.15 vs $2.05 YoY; net income $1.25 per share, up 5.9%.
Extra Space Storage Q1 2026 Core FFO $2.04 (+2% YoY); same-store revenue +1.7%
Net income of $1.14 diluted EPS (down 10.9% YoY); Core FFO of $2.04 per diluted share (up 2.0% YoY).
Extra Space Storage Q4 net income $1.36/sh (+9.7% YoY); Core FFO $2.08/sh (+2.5%)
Q4 net income attributable to common stockholders of $287.4M ($1.36 diluted EPS), up 9.7% YoY.
Extra Space Storage Q3 net income down 14.3%; Core FFO up 0.5%; guidance raised
Q3 net income per share $0.78 (-14.3% YoY); Core FFO $2.08 (+0.5% YoY).
EXR Q2 net income $1.18/share (+34% YoY); Core FFO $2.05 (-0.5%); same-store NOI down 3.1%
Net income $249.7M, diluted EPS $1.18 vs $0.88 YoY; Core FFO $454.9M ($2.05/share).
CFO P. Scott Stubbs to retire Dec 2025; Jeff Norman to become CFO July 1
CFO P. Scott Stubbs will retire on December 31, 2025, after 25 years at Extra Space Storage.
Extra Space Storage Q1 2025 EPS $1.28, Core FFO $2.00; same-store revenue up 0.3%
Net income $270.9M ($1.28 diluted EPS), up 26.7% YoY; Core FFO $2.00/share, up 2.0% YoY.
Extra Space Storage Q4 Core FFO $2.03 (+0.5% YoY); guides 2025 Core FFO $8.00-$8.30
Q4 net income $1.24/diluted share (+21.6% YoY); Core FFO $2.03/diluted share (+0.5%).
Extra Space Storage Q3 Core FFO $2.07 (+2.5% YoY); narrows 2024 guidance upward
Net income $0.91/diluted share (-5.2% YoY) due to $51.8M Life Storage trade name impairment; Core FFO $2.07 (+2.5% YoY).
Extra Space Storage LP issues $400M of 5.350% Senior Notes due 2035
Issued $400M aggregate principal amount of 5.350% Senior Notes due January 15, 2035.
Extra Space Q2 EPS $0.88 (-41% YoY) on $54.7M write-down; Core FFO $2.06 flat
Net income per diluted share $0.88, down 41.3% YoY; Core FFO per share $2.06, flat YoY.
Extra Space Storage Q1 net income $1.01/diluted share; Core FFO $1.96, down 3% YoY
Net income attributable to common stockholders of $213.1M ($1.01 diluted EPS), down 30.8% YoY.
Extra Space Storage Q4 Core FFO $2.02/sh, down 3.3% YoY; FY24 guidance $7.85-$8.15
Q4 net income $1.02 per diluted share, down 32.9% YoY; Core FFO $2.02 per share, down 3.3%.
Extra Space Storage Q3 EPS $0.96 (-41.8%); completes $11.6B Life Storage merger
Core FFO $2.02 per share, down 8.6% YoY; same-store revenue +1.9%, same-store NOI +0.7%.
EXR Q2 Core FFO $2.06 (-3.3% YoY); life storage merger closed; guidance cut
Core FFO $2.06/diluted share, down 3.3% YoY; net income $1.50/diluted share ($202.4M).
Extra Space Storage completes ~$2.35B exchange of Life Storage notes for new Extra Space OP notes
Exchanged $582.6M of LSI 3.500% 2026 notes for new Extra Space OP 3.500% 2026 notes.
Extra Space Storage closes Life Storage merger, creating largest U.S. storage operator with ~$46B EV
Life Storage shareholders receive 0.895 EXR shares per share; Merger closed July 20, 2023.
Extra Space and Life Storage stockholders approve merger; closing expected July 20
Extra Space holders: >99.9% of votes cast (~90.3% of outstanding) in favor.
Extra Space & Life Storage issue supplemental proxy disclosures in response to shareholder lawsuits
Five shareholder lawsuits filed in S.D.N.Y. allege proxy statement omitted material info about the merger.
Extra Space Storage LP issues $450M of 5.5% Senior Notes due 2030
$450M aggregate principal of 5.500% Senior Notes due 2030 issued on June 16, 2023.
Extra Space files pro forma financials for $14.7B Life Storage merger; expected H2 2023 close
Merger consideration $14.7B: $11.4B in Extra Space equity plus $3.1B debt assumption and $161M transaction costs.
The Company also announced that, in connection with Mr. Margolis’ planned retirement, the Company’s board of directors selected W. Noah Springer, the Company’s current President, to succeed Mr. Margolis as Chief Executive Officer.
Mr. Springer will assume the responsibilities of Chief Executive Officer and will join the Company’s board of directors beginning January 1, 2027.
On August 24, 2026, Extra Space Storage Inc. (the “Company”) announced that Joseph D. Margolis, the Company’s Chief Executive Officer, will retire effective as of December 31, 2026.
The Company also announced that, in connection with Mr. Stubbs’ planned retirement, the Company’s board of directors selected Jeff Norman, the Company’s current Senior Vice President of Capital Markets and Treasury, to succeed Mr. Stubbs as Executive Vice President, Chief Financial Officer.
On May 19, 2025, Extra Space Storage Inc. (the “Company”) announced that P. Scott Stubbs, the Company’s Executive Vice President and Chief Financial Officer, will retire effective as of December 31, 2025.
Extra Space increased the size of its board of directors from ten members to thirteen members and appointed Joseph V. Saffire, Mark G. Barberio and Susan Harnett to the Extra Space board of directors
Extra Space increased the size of its board of directors from ten members to thirteen members and appointed Joseph V. Saffire, Mark G. Barberio and Susan Harnett to the Extra Space board of directors
Extra Space increased the size of its board of directors from ten members to thirteen members and appointed Joseph V. Saffire, Mark G. Barberio and Susan Harnett to the Extra Space board of directors
On September 15, 2022, the board of directors of Extra Space Storage Inc. (the “Company”) appointed Jefferson Shreve to the board, effective immediately, in connection with the Company’s acquisition of various entities doing business as Storage Express (“Storage Express”) for approximately $590.0 million (the “Acquisition”).
Max materiality 0.90 · Median 0.55 · Most common event debt