Every material Form 8-K Extra Space Storage has filed with the SEC since February 25, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Extra Space Storage reported third-quarter 2026 results with net income of $1.17 per diluted share, up 50.0% from a year earlier, and Core FFO of $2.17 per diluted share, up 4.3%. The company raised its full-year 2026 Core FFO estimate to $8.40-$8.50 from $8.25-$8.40 and said CEO Joe Margolis will be succeeded by President Noah Springer on January 1, 2027.
Q3 2026 Core FFO was $2.17 per diluted share, up 4.3% from $2.08 a year earlier; FFO was $2.12 per diluted share.
Same-store NOI rose 4.6% in the quarter, with same-store revenue up 2.7% and same-store expenses down 1.8%.
2026 Core FFO outlook raised to $8.40-$8.50 per share from $8.25-$8.40 given July 28, 2026.
Repurchased 2,390,497 shares for $327.1 million in the quarter; Noah Springer becomes CEO effective January 1, 2027.
Extra Space Storage's board selected President W. Noah Springer to succeed Joseph D. Margolis as chief executive, effective January 1, 2027, when Margolis retires after serving through December 31, 2026. Margolis will then serve as an advisor to the board, and Springer will join the board on the same date.
Springer, 47, has been President since January 2026 and joined the company in 2006.
Springer's annual base salary will be $850,000, with continued eligibility for bonus and equity awards.
Margolis has served as CEO since 2017 and will remain a director until December 31, 2026.
The filing reports no financial results; the change is a leadership succession announced August 24, 2026.
Extra Space Storage reported second-quarter 2026 net income of $1.25 per diluted share, up 5.9% from a year earlier, and Core FFO of $2.15 per diluted share, up 4.9%. The company raised its full-year 2026 Core FFO estimate to $8.25 to $8.40 per share from $8.05 to $8.35, which signals a higher expected earnings level for shareholders.
Q2 2026 net income of $1.25 per diluted share, up 5.9% from the same period in 2025
Q2 2026 Core FFO of $2.15 per diluted share, up 4.9%; same-store NOI rose 3.5%
2026 Core FFO outlook raised to $8.25 to $8.40 per share from $8.05 to $8.35 (July 28, 2026)
Same-store occupancy was 94.2% at June 30, 2026, versus 94.4% a year earlier
Extra Space Storage LP, a subsidiary of Extra Space Storage Inc., completed an underwritten public offering of $550 million of 4.900% Senior Notes due February 1, 2032, on July 6, 2026, priced at 99.702% of principal. The notes are guaranteed by the parent company and two Massachusetts business trusts, and the indenture includes limits on additional debt and a requirement to maintain a pool of unencumbered assets. The filing adds new long-term debt to the company's obligations, which is a routine financing step that shareholders should weigh against the cost and covenants of the notes.
Principal amount: $550 million of 4.900% Senior Notes due February 1, 2032
Public offering price was 99.702% of principal amount
Interest payable February 1 and August 1 each year, starting February 1, 2027
Notes are structurally subordinated to the issuer's secured debt and subsidiary liabilities
Extra Space Storage reported first-quarter 2026 results on April 28, 2026. Core FFO rose 2.0% to $2.04 per diluted share and same-store revenue grew 1.7%, while GAAP net income per diluted share fell 10.9% to $1.14, a comparison the company tied to a 2025 gain on real estate sales. The company kept its 2026 Core FFO outlook at $8.05 to $8.35 per share, unchanged from February 19, 2026.
Core FFO was $2.04 per diluted share, up 2.0% from $2.00 a year earlier; FFO was $1.97 per diluted share versus $1.93.
Same-store revenue rose 1.7% and same-store net operating income rose 1.2%, while same-store occupancy was 93.0% at March 31, 2026, down from 93.2%.
The 2026 Core FFO outlook of $8.05 to $8.35 per share was unchanged; the company raised its one-month SOFR assumption to 3.65% from 3.46%.
Extra Space Storage reported fourth-quarter 2025 results on February 19, 2026. Net income per diluted share rose 9.7% to $1.36 and Core FFO per diluted share rose 2.5% to $2.08, while same-store revenue grew 0.4% and ending occupancy fell to 92.6% from 93.3%. The company also projected 2026 Core FFO of $8.05 to $8.35 per share, compared with full-year 2025 Core FFO of $8.21.
Q4 2025 net income of $1.36 per diluted share, up 9.7% from the prior-year quarter; FFO of $1.99 per diluted share.
Q4 2025 Core FFO of $2.08 per diluted share, up 2.5%; full-year 2025 Core FFO of $8.21, up 1.1%.
Same-store revenue rose 0.4% and same-store NOI rose 0.1% in Q4; ending same-store occupancy was 92.6% versus 93.3% a year earlier.
2026 guidance: Core FFO of $8.05 to $8.35 per share and same-store NOI growth of (2.25)% to 1.25%.
Extra Space Storage (EXR) announced that its Board promoted Noah Springer, previously Executive Vice President, Chief Strategy and Partnership Officer, to President effective January 5, 2026. Mr. Springer will also oversee the company's operations function, in addition to third-party management, joint ventures and human resources. The filing does not report financial results or changes to his compensation terms beyond continuation of his existing program.
Noah Springer promoted to President, effective January 5, 2026
Operations function will now report to Mr. Springer, in addition to third-party management, joint ventures and human resources
Mr. Springer, 46, has been Executive Vice President, Chief Strategy and Partnership Officer since December 2020 and joined the company in 2006
Management Plus third-party platform has over 1,800 locations, according to the filing
Extra Space Storage reported third-quarter 2025 results, with net income of $0.78 per diluted share, down 14.3% from the prior year, including a $105.1 million loss on assets held for sale and sold. Core FFO was $2.08 per diluted share, up 0.5%, while same-store revenue fell 0.2% and same-store net operating income fell 2.5%. The company narrowed its 2025 Core FFO outlook to $8.12-$8.20 per share from $8.05-$8.25, raising the low end and lowering the high end.
Q3 2025 net income of $0.78 per diluted share, down from $0.91 a year earlier, including a $105.1 million loss on assets held for sale and sold
Q3 2025 Core FFO of $2.08 per diluted share, up 0.5% from $2.07
Same-store revenue down 0.2% and same-store NOI down 2.5% for the quarter; ending same-store occupancy of 93.7%
2025 Core FFO guidance of $8.12-$8.20 per share, versus $8.05-$8.25 given on July 30, 2025
On August 21, 2025, the operating partnership of Extra Space Storage entered a fourth amended and restated credit agreement providing up to $4.5 billion in unsecured borrowings. The agreement replaces a June 22, 2023 credit agreement and extends maturities on the revolving and term loan facilities, which gives the company borrowing capacity under the terms set out in the filing.
Aggregate borrowings of up to $4.5 billion: a $3.0 billion revolving facility due August 21, 2029, plus three $500.0 million term loans due in 2026, 2028 and 2029
Commitments can be increased up to $5.50 billion; floating-rate pricing depends on the company's credit ratings
Financial covenants include total indebtedness to total asset value of no more than 60% and adjusted EBITDA to fixed charges of at least 1.50 to 1.00
Company guarantees the facility; the agreement is not secured by any assets
Extra Space Storage LP, a subsidiary of Extra Space Storage Inc. (EXR), completed an underwritten public offering of $800 million in 4.950% senior notes due January 15, 2033. The notes were sold at 99.739% of principal and are fully guaranteed by the parent company and two Massachusetts business trusts. The filing describes new debt that adds to the company's obligations, with restrictive covenants on additional borrowing.
Principal amount of $800 million; public offering price was 99.739% of principal amount
Interest at 4.950% per year, payable January 15 and July 15, beginning January 15, 2026
Maturity date January 15, 2033; redeemable at any time at greater of par or make-whole premium
Indenture includes limits on additional indebtedness and a requirement to maintain a pool of unencumbered assets
Extra Space Storage reported second-quarter 2025 results for the three months ended June 30, 2025. Net income attributable to common stockholders rose to $1.18 per diluted share, up 34.1% from a year earlier, while Core FFO fell 0.5% to $2.05 per diluted share and same-store revenue was flat. The company kept its full-year Core FFO midpoint at $8.15 by narrowing the range to $8.05 to $8.25, which shareholders may watch alongside slower same-store net operating income.
Q2 net income of $1.18 per diluted share, up 34.1%; FFO of $1.98 per diluted share, unchanged from the prior year
Q2 Core FFO of $2.05 per diluted share, down 0.5%; same-store revenue flat and same-store NOI down 3.1%
2025 Core FFO outlook narrowed to $8.05 to $8.25 from $8.00 to $8.30; CEO said the midpoints of FFO and same-store guidance were maintained
Company paid a $1.62 per share quarterly dividend and repurchased 68,585 shares for $8.6 million in the quarter
At its annual meeting on May 21, 2025, Extra Space Storage stockholders elected all 10 director nominees and approved the Amended and Restated 2015 Incentive Award Plan, which the Board had approved on March 17, 2025. Stockholders also ratified Ernst & Young LLP as the independent auditor for 2025 and approved, on an advisory basis, the compensation paid to named executive officers.
All 10 director nominees were elected, with terms expiring at the 2026 annual meeting.
Amended and Restated 2015 Incentive Award Plan: 175,686,736 votes for, 7,430,073 against, 289,925 abstentions, 10,317,695 broker non-votes.
Ernst & Young LLP ratified as 2025 auditor: 184,525,591 votes for, 9,118,070 against, 80,768 abstentions.
Advisory say-on-pay vote: 172,470,577 votes for, 10,587,202 against, 348,955 abstentions.
Extra Space Storage said Chief Financial Officer P. Scott Stubbs will retire effective December 31, 2025. The board selected Jeff Norman, the company's Senior Vice President of Capital Markets and Treasury, to succeed him as Executive Vice President and CFO beginning July 1, 2025, a planned transition of the company's top finance role.
Scott Stubbs, CFO since 2011 and with the company for 25 years, retires December 31, 2025.
Jeff Norman, 44, becomes Executive Vice President and CFO on July 1, 2025; he has been with the company since 2012.
Norman's annual base salary will be $450,000, plus a restricted stock grant valued at $300,000 effective July 1, 2025.
Stubbs remains on the Executive Committee until retirement and will work with Norman through December 31, 2025.
Extra Space Storage reported first-quarter 2025 results, with net income of $1.28 per diluted share, up 26.7%, and Core FFO of $2.00 per diluted share, up 2.0%. The company kept its full-year 2025 Core FFO guidance at $8.00 to $8.30 per share, but same-store net operating income fell 1.2%.
Net income attributable to common stockholders was $1.28 per diluted share, up 26.7% from the prior year period
Core FFO was $2.00 per diluted share, up 2.0%; same-store revenue rose 0.3% while same-store NOI fell 1.2%
2025 Core FFO guidance remained $8.00 to $8.30 per share, unchanged from February 25, 2025
Same-store occupancy was 93.4% at March 31, 2025, up from 92.4% a year earlier
Extra Space Storage LP, a subsidiary of Extra Space Storage Inc., completed an underwritten public offering of $500 million in 5.400% senior notes due June 15, 2035, on March 19, 2025. The notes are guaranteed by the parent company and two Massachusetts business trusts, and the filing says the indenture limits additional debt and requires a pool of unencumbered assets. The filing is a debt financing that adds to the company's borrowings, but it does not report earnings or guidance.
Principal amount of $500 million; public offering price was 99.830% of principal.
Interest at 5.400% per year, payable June 15 and December 15, starting June 15, 2025, with maturity on June 15, 2035.
Notes are senior unsecured and effectively subordinated to the issuer's secured debt and all subsidiary liabilities.
Offered under a shelf registration filed April 15, 2024, with a prospectus supplement dated March 10, 2025.
Extra Space Storage reported fourth-quarter 2024 results. Net income per diluted share rose 21.6% to $1.24, and Core FFO per diluted share rose 0.5% to $2.03, while same-store revenue fell 0.4% and same-store net operating income fell 3.5%. The company expects 2025 Core FFO of $8.00 to $8.30 per diluted share and says it expects a challenging but slowly improving operating environment.
Q4 2024 net income attributable to common stockholders was $1.24 per diluted share, up 21.6% from a year earlier.
Q4 2024 Core FFO was $2.03 per diluted share, up 0.5%; full-year 2024 Core FFO was $8.12, up 0.2%.
Same-store revenue fell 0.4% and same-store NOI fell 3.5% in Q4 2024; year-end same-store occupancy was 93.7%, up from 92.5%.
2025 outlook: Core FFO of $8.00 to $8.30 per diluted share, with same-store revenue growth of (0.75)% to 1.25%.
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