Extra Space Storage Prices $550 Million Senior Notes Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 40 minutes ago
0mins
Source: Newsfilter
- Offering Size: Extra Space Storage Inc. announced the pricing of $550 million in aggregate principal amount of 4.900% senior notes, priced at 99.702% of the principal amount, with the offering expected to close on July 6, 2026, indicating strong demand in the capital markets.
- Use of Proceeds: The net proceeds from this offering will be utilized to repay outstanding amounts under its lines of credit and commercial paper program, as well as for general corporate and working capital purposes, including funding potential acquisition opportunities, reflecting the company's proactive growth strategy.
- Market Participants: Wells Fargo, J.P. Morgan, and several other financial institutions are acting as joint book-running managers for the offering, showcasing broad market recognition and confidence in the transaction, which further strengthens the company's market position.
- Company Background: As of March 31, 2026, Extra Space Storage owned and operated 4,344 self-storage facilities across the U.S., providing approximately 335.6 million square feet of rentable space, solidifying its status as the largest self-storage operator in the United States.
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Analyst Views on EXR
Wall Street analysts forecast EXR stock price to rise
11 Analyst Rating
4 Buy
7 Hold
0 Sell
Moderate Buy
Current: 147.760
Low
142.00
Averages
152.00
High
178.00
Current: 147.760
Low
142.00
Averages
152.00
High
178.00
About EXR
Extra Space Storage, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, manages, provides lending to, acquires, develops and redevelops self-storage properties (stores). Its stores offer month-to-month rental of storage space for personal or business use. Its segments include self-storage operations and tenant reinsurance. Its self-storage operations segment includes rental operations of wholly owned stores. Its tenant reinsurance segment includes the reinsurance of risks relating to the loss of goods stored by tenants in its stores. The Company owns and operates 4,238 self-storage properties, which comprise approximately 2.9 million units and approximately 326.9 million square feet of rentable storage space operating under the Extra Space brand. It offers customers a selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Extra Space Storage Releases 2025 Sustainability Report Highlighting Key Achievements
- Renewable Energy Investment: The company invested $30 million in solar installations over the past year, bringing total solar generation to 68.6 GWh, significantly enhancing its clean energy usage and reinforcing its leadership in sustainability.
- Greenhouse Gas Reduction: Achieved a 15% reduction in greenhouse gas emissions per square foot across its portfolio, maintaining a carbon footprint 82% lower than the real estate sector average, which not only meets environmental standards but also enhances the company's image among investors.
- Industry Recognition: Named one of 'America's Climate Leaders' by USA Today and earned an 'A' rating for its GRESB disclosure, showcasing its outstanding performance in environmental responsibility and further enhancing brand credibility.
- Customer Satisfaction: Maintained a 91% overall customer satisfaction score nationwide, reflecting the company's ongoing efforts and success in customer service, which boosts customer loyalty and drives business growth.
See More
Extra Space Storage Prices $550 Million Senior Notes Offering
- Offering Size: Extra Space Storage Inc. announced the pricing of $550 million in aggregate principal amount of 4.900% senior notes, priced at 99.702% of the principal amount, with the offering expected to close on July 6, 2026, indicating strong demand in the capital markets.
- Use of Proceeds: The net proceeds from this offering will be utilized to repay outstanding amounts under its lines of credit and commercial paper program, as well as for general corporate and working capital purposes, including funding potential acquisition opportunities, reflecting the company's proactive growth strategy.
- Market Participants: Wells Fargo, J.P. Morgan, and several other financial institutions are acting as joint book-running managers for the offering, showcasing broad market recognition and confidence in the transaction, which further strengthens the company's market position.
- Company Background: As of March 31, 2026, Extra Space Storage owned and operated 4,344 self-storage facilities across the U.S., providing approximately 335.6 million square feet of rentable space, solidifying its status as the largest self-storage operator in the United States.
See More
Extra Space Storage Prices $550M Public Offering of Senior Notes
- Offering Size: Extra Space Storage LP has announced a public offering of $550 million in senior notes priced at 99.702% of the principal amount, maturing on February 1, 2032, which will provide the company with long-term financing support.
- Use of Proceeds: The net proceeds from this offering will be utilized to repay outstanding amounts under its lines of credit and commercial paper program, as well as for general corporate and working capital needs, including funding potential acquisition opportunities, thereby enhancing the company's financial flexibility.
- Underwriting Team: The involvement of prominent financial institutions such as Wells Fargo Securities and J.P. Morgan as joint book-running managers indicates strong market confidence in this debt instrument, likely attracting more investor interest.
- Market Impact: This senior notes offering not only aids in improving the company's capital structure but may also enhance its competitiveness in future acquisitions, further solidifying its market position in the self-storage industry.
See More
Extra Space Storage Prices $550 Million Senior Notes Offering
- Offering Size: Extra Space Storage LP has announced a public offering of $550 million in senior notes priced at 99.702% of the principal amount, maturing in 2032, reflecting the company's strong capital market capabilities.
- Use of Proceeds: The net proceeds from this offering will be used to repay outstanding amounts under its lines of credit and commercial paper program, as well as for general corporate and working capital needs, indicating a proactive strategy for business expansion and acquisition opportunities.
- Underwriting Team: The offering is managed by prominent financial institutions including Wells Fargo, J.P. Morgan, and Truist Securities, showcasing market confidence and support for the transaction.
- Market Position: As the largest operator of self-storage properties in the U.S., with 4,344 stores offering approximately 3.0 million units of rentable space, this financing will further solidify Extra Space's leadership position in the market.
See More
Extra Space Storage Releases 2025 Sustainability Report
- Completion of Sustainability Goals: The 2025 Sustainability Report from Extra Space Storage marks the end of its 2018-2025 sustainability goal cycle, detailing the company's performance against long-term environmental management and efficiency targets, demonstrating its commitment to sustainability.
- Progress in Environmental Responsibility: The report highlights advancements in key corporate responsibility areas such as environmental stewardship, workplace culture, and corporate governance, indicating efforts to enhance corporate image and meet investor expectations.
- Setting Future Goals: Extra Space Storage introduces a new framework of goals for 2030 in the report, aimed at further driving innovation and improvements in sustainability, thereby enhancing long-term shareholder value.
- Business Scale and Impact: As of March 31, 2026, the company owns and operates 4,344 self-storage stores across 42 states and Washington, D.C., providing approximately 335.6 million square feet of rentable space, solidifying its position as the largest self-storage property operator in the United States.
See More
Extra Space Storage Named Among Top Dividend Stocks for June
- Dividend Stock Recommendation: Extra Space Storage Inc. has been named among the 10 Best Dividend Stocks to Buy, indicating its attractiveness to investors, which could drive stock price appreciation and attract more long-term investors.
- Analyst Rating Upgrade: UBS analyst Michael Goldsmith raised the price target for Extra Space Storage from $148 to $158 while reiterating a Buy rating, reflecting market confidence in the company's future performance.
- Strong Financial Performance: In the Q1 2026 earnings call, CEO Joseph Margolis reported core FFO of $2.04 per share, a 2% increase year-over-year, with same-store revenue growth of 1.7% exceeding internal expectations, showcasing the company's competitive position in the market.
- Acquisition Outlook: Margolis expects total acquisitions to reach around $200 million in 2026, primarily through asset-light joint ventures, indicating a proactive strategy for expanding market share and enhancing the asset portfolio.
See More
Extra Space Storage Releases 2025 Sustainability Report Highlighting Key Achievements
- Renewable Energy Investment: The company invested $30 million in solar installations over the past year, bringing total solar generation to 68.6 GWh, significantly enhancing its clean energy usage and reinforcing its leadership in sustainability.
- Greenhouse Gas Reduction: Achieved a 15% reduction in greenhouse gas emissions per square foot across its portfolio, maintaining a carbon footprint 82% lower than the real estate sector average, which not only meets environmental standards but also enhances the company's image among investors.
- Industry Recognition: Named one of 'America's Climate Leaders' by USA Today and earned an 'A' rating for its GRESB disclosure, showcasing its outstanding performance in environmental responsibility and further enhancing brand credibility.
- Customer Satisfaction: Maintained a 91% overall customer satisfaction score nationwide, reflecting the company's ongoing efforts and success in customer service, which boosts customer loyalty and drives business growth.
See More
Extra Space Storage Prices $550 Million Senior Notes Offering
- Offering Size: Extra Space Storage Inc. announced the pricing of $550 million in aggregate principal amount of 4.900% senior notes, priced at 99.702% of the principal amount, with the offering expected to close on July 6, 2026, indicating strong demand in the capital markets.
- Use of Proceeds: The net proceeds from this offering will be utilized to repay outstanding amounts under its lines of credit and commercial paper program, as well as for general corporate and working capital purposes, including funding potential acquisition opportunities, reflecting the company's proactive growth strategy.
- Market Participants: Wells Fargo, J.P. Morgan, and several other financial institutions are acting as joint book-running managers for the offering, showcasing broad market recognition and confidence in the transaction, which further strengthens the company's market position.
- Company Background: As of March 31, 2026, Extra Space Storage owned and operated 4,344 self-storage facilities across the U.S., providing approximately 335.6 million square feet of rentable space, solidifying its status as the largest self-storage operator in the United States.
See More
Extra Space Storage Prices $550M Public Offering of Senior Notes
- Offering Size: Extra Space Storage LP has announced a public offering of $550 million in senior notes priced at 99.702% of the principal amount, maturing on February 1, 2032, which will provide the company with long-term financing support.
- Use of Proceeds: The net proceeds from this offering will be utilized to repay outstanding amounts under its lines of credit and commercial paper program, as well as for general corporate and working capital needs, including funding potential acquisition opportunities, thereby enhancing the company's financial flexibility.
- Underwriting Team: The involvement of prominent financial institutions such as Wells Fargo Securities and J.P. Morgan as joint book-running managers indicates strong market confidence in this debt instrument, likely attracting more investor interest.
- Market Impact: This senior notes offering not only aids in improving the company's capital structure but may also enhance its competitiveness in future acquisitions, further solidifying its market position in the self-storage industry.
See More
Extra Space Storage Prices $550 Million Senior Notes Offering
- Offering Size: Extra Space Storage LP has announced a public offering of $550 million in senior notes priced at 99.702% of the principal amount, maturing in 2032, reflecting the company's strong capital market capabilities.
- Use of Proceeds: The net proceeds from this offering will be used to repay outstanding amounts under its lines of credit and commercial paper program, as well as for general corporate and working capital needs, indicating a proactive strategy for business expansion and acquisition opportunities.
- Underwriting Team: The offering is managed by prominent financial institutions including Wells Fargo, J.P. Morgan, and Truist Securities, showcasing market confidence and support for the transaction.
- Market Position: As the largest operator of self-storage properties in the U.S., with 4,344 stores offering approximately 3.0 million units of rentable space, this financing will further solidify Extra Space's leadership position in the market.
See More
Extra Space Storage Releases 2025 Sustainability Report
- Completion of Sustainability Goals: The 2025 Sustainability Report from Extra Space Storage marks the end of its 2018-2025 sustainability goal cycle, detailing the company's performance against long-term environmental management and efficiency targets, demonstrating its commitment to sustainability.
- Progress in Environmental Responsibility: The report highlights advancements in key corporate responsibility areas such as environmental stewardship, workplace culture, and corporate governance, indicating efforts to enhance corporate image and meet investor expectations.
- Setting Future Goals: Extra Space Storage introduces a new framework of goals for 2030 in the report, aimed at further driving innovation and improvements in sustainability, thereby enhancing long-term shareholder value.
- Business Scale and Impact: As of March 31, 2026, the company owns and operates 4,344 self-storage stores across 42 states and Washington, D.C., providing approximately 335.6 million square feet of rentable space, solidifying its position as the largest self-storage property operator in the United States.
See More
Extra Space Storage Named Among Top Dividend Stocks for June
- Dividend Stock Recommendation: Extra Space Storage Inc. has been named among the 10 Best Dividend Stocks to Buy, indicating its attractiveness to investors, which could drive stock price appreciation and attract more long-term investors.
- Analyst Rating Upgrade: UBS analyst Michael Goldsmith raised the price target for Extra Space Storage from $148 to $158 while reiterating a Buy rating, reflecting market confidence in the company's future performance.
- Strong Financial Performance: In the Q1 2026 earnings call, CEO Joseph Margolis reported core FFO of $2.04 per share, a 2% increase year-over-year, with same-store revenue growth of 1.7% exceeding internal expectations, showcasing the company's competitive position in the market.
- Acquisition Outlook: Margolis expects total acquisitions to reach around $200 million in 2026, primarily through asset-light joint ventures, indicating a proactive strategy for expanding market share and enhancing the asset portfolio.
See More
