Extra Space Storage Inc.
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EXR Q2 2025 request
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/api/financials?ticker=EXR&year=2025&quarter=2
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| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Lease Income | 721,004 | 697,100 | +3.4% |
| Direct Premiums Earned | 88,572 | 83,705 | +5.8% |
| Revenue | 32,042 | 29,858 | +7.3% |
| Revenue | 841,618 | 810,663 | +3.8% |
Show Business Segments breakouts |
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| Self-Storage Operations · Operating Segments | 721,004 | 697,100 | +3.4% |
| Tenant Reinsurance · Operating Segments | 88,572 | 83,705 | +5.8% |
Show Consolidation Items breakouts |
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| Operating Segments | 809,576 | 780,805 | +3.7% |
| Cost of Revenue | 227,621 | 196,902 | +15.6% |
| Tenant Reinsurance Expense | 16,945 | 19,631 | -13.7% |
| General & Administrative | 44,952 | 39,901 | +12.7% |
| Depreciation & Amortization | 177,266 | 194,809 | -9.0% |
| Total Costs & Expenses | 466,784 | 451,243 | +3.4% |
| Gains Losses On Real Estate Transactions And Earn Out From Prior Acquisition And Sale Of Other Assets | -864 | -54,659 | +98.4% |
| Operating Income | 373,970 | 304,761 | +22.7% |
Show Business Segments breakouts |
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| Self-Storage Operations · Operating Segments | 493,383 | 500,198 | -1.4% |
| Tenant Reinsurance · Operating Segments | 71,627 | 64,074 | +11.8% |
Show Consolidation Items breakouts |
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| Operating Segments | 565,010 | 564,272 | +0.1% |
| Interest Expense Excluding Amortization Of Debt Discount Premium | -146,128 | -137,133 | -6.6% |
| Amortization Of Debt Discount Premium | -11,770 | -10,853 | -8.4% |
| Interest Income | 41,998 | 31,226 | +34.5% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments | 258,070 | 188,001 | +37.3% |
| Income Loss From Equity Method Investments | 16,284 | 17,255 | -5.6% |
| Income Tax Expense (Benefit) | -11,638 | -9,844 | -18.2% |
| Net Income | 262,716 | 195,412 | +34.4% |
Show Equity Components breakouts |
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| Operating Partnership | 12,268 | 7,600 | +61.4% |
| Other | -6 | 7 | -185.7% |
| Preferred Operating Partnership | 723 | 1,933 | -62.6% |
| Retained Earnings | 249,731 | 185,872 | +34.4% |
| Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable | -723 | -1,933 | +62.6% |
| Minority Interest In Net Income Loss Operating Partnerships And Other | -12,262 | -7,607 | -61.2% |
| Net Income | 249,731 | 185,872 | +34.4% |
| EPS (Basic) | 1.18 | 0.88 | +34.1% |
| EPS (Diluted) | 1.18 | 0.88 | +34.1% |
| Wtd Avg Shares (Basic) | 211,940,903 | 211,584,155 | +0.2% |
| Wtd Avg Shares (Diluted) | 211,940,903 | 211,587,105 | +0.2% |
| Common Stock Dividends Per Share Cash Paid | 1.62 | 1.62 | 0.0% |
| Operating Expenses (Q) | — | — | — |
Show Business Segments breakouts |
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| Self-Storage Operations · Operating Segments | 227,621 | 196,902 | +15.6% |
Show Consolidation Items breakouts |
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| Operating Segments | 244,566 | 216,533 | +12.9% |
| Comprehensive Income | 246,730 | 184,922 | +33.4% |
| Net Income Loss Available To Common Stockholders Basic | 249,282 | 185,476 | +34.4% |
| Labor And Related Expense (Q) | — | — | — |
Show Business Segments breakouts |
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| Self-Storage Operations · Operating Segments | 45,153 | 42,282 | +6.8% |
Balance Sheet
| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 125,045 | 76,973 | +62.5% |
| Non-Current Assets | |||
| Operating Lease Right-of-Use Assets | 720,357 | 218,823 | +229.2% |
| Total Assets | 29,368,011 | 27,762,080 | +5.8% |
| Property, Plant & Equipment | 49,814 | 48,286 | +3.2% |
| Goodwill | 170,811 | 170,811 | 0.0% |
| Intangible Assets | 21,511 | 47,498 | -54.7% |
| Other Assets | |||
| Real Estate Investment Property Net | 25,099,810 | 24,340,817 | +3.1% |
| Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures | 1,088,983 | — | — |
| Debt Securities Held To Maturity And Financing Receivable After Allowance For Credit Loss And Interest Receivable | 1,849,068 | — | — |
| Other Assets | 484,748 | 617,631 | -21.5% |
| Non-Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current And Noncurrent | 438,062 | 381,941 | +14.7% |
| Total Liabilities | 14,690,922 | 12,631,240 | +16.3% |
| Long-Term Debt (Q) | — | — | — |
Show Long-Term Debt Type breakouts |
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| Term Debt | 11,693,981 | 10,547,305 | +10.9% |
| Other Liabilities | |||
| Other Notes Payable | 1,126,237 | 1,265,981 | -11.0% |
| Unsecured Debt | 1,948,801 | 2,252,872 | -13.5% |
| Senior Notes | 8,618,943 | 7,028,452 | +22.6% |
| Line Of Credit | 1,211,000 | — | — |
Show Debt Instrument breakouts |
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| Commercial Paper | 700,000 | — | — |
| Lines Of Credit | 1,211,000 | — | — |
| Secured credit line | 6,000 | — | — |
| Unsecured Credit Line | 505,000 | — | — |
| Operating Lease Liability | 742,847 | 229,035 | +224.3% |
| Cash Distributions In Unconsolidated Real Estate Ventures | 76,827 | — | — |
| Other Liabilities | 528,205 | 451,826 | +16.9% |
| Stockholders' Equity | |||
| Common Stock | 2,123 | 2,120 | +0.1% |
| Additional Paid In Capital Common Stock | 14,860,946 | 14,810,938 | +0.3% |
| Accumulated Other Comprehensive Income | 3,203 | 27,241 | -88.2% |
| Retained Earnings | -1,075,430 | -667,667 | -61.1% |
| Total Stockholders' Equity | 13,790,842 | 14,172,632 | -2.7% |
| Minority Interest In Preferred Unit Holders | 53,827 | 191,306 | -71.9% |
Show Preferred Units By Name breakouts |
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| Series B Units | 33,567 | 33,567 | 0.0% |
| Series D Units | 20,260 | 157,739 | -87.2% |
| Minority Interest In Operating Partnerships | 832,420 | 766,902 | +8.5% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 14,677,089 | 15,130,840 | -3.0% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | 3,203 | 27,241 | -88.2% |
| Additional Paid In Capital | 14,860,946 | 14,810,938 | +0.3% |
| Common Stock | 2,123 | 2,120 | +0.1% |
| Operating Partnership | 820,254 | 757,102 | +8.3% |
| Other | 12,166 | 9,800 | +24.1% |
| Preferred Operating Partnership | 53,827 | 191,306 | -71.9% |
| Retained Earnings | -1,075,430 | -667,667 | -61.1% |
| Total Liabilities & Equity | 29,368,011 | 27,762,080 | +5.8% |
Cash Flow Statement
| Metric | YTD Q2 2025 | YTD Q2 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Amortization of Financing Costs | 5,651 | 7,739 | -27.0% |
| Operating Lease Right Of Use Asset Amortization Expense | 6,447 | 945 | +582.2% |
| Stock-Based Compensation | 15,679 | 6,192 | +153.2% |
| Noncash Interest Income | -16,421 | -16,100 | -2.0% |
| Gains Loss On Real Estate Transactions Net Of Impairment Of Real Estate | -34,897 | 54,659 | -163.8% |
| Income Loss From Equity Method Investments Net Of Dividends Or Distributions | 17,910 | 14,540 | +23.2% |
| Increase Decrease In Other Operating Assets | 27,003 | -3,463 | +879.8% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | 77,529 | 42,669 | +81.7% |
| Increase Decrease In Other Operating Liabilities | -1,981 | 70,800 | -102.8% |
| Net Cash from Operations | 1,025,265 | 1,010,800 | +1.4% |
| Noncontrolling Interest Increase Decrease From Redemptions Of Operating Partnership Units | -26,218 | -54,491 | +51.9% |
| Redemption Of Operating Partnership Units Held By Noncontrolling Interest Including Additional Paid In Capital | 26,218 | 54,491 | -51.9% |
| Right Of Use Asset Obtained In Exchange For Operating Lease Liability | 419 | — | — |
| Establishment Of Operating Lease Liability | -419 | — | — |
| Investing Activities | |||
| Payments To Acquire Real Estate | -464,517 | -157,329 | -195.3% |
| Payments To Develop Real Estate Assets | -79,560 | -69,384 | -14.7% |
| Proceeds From Sale Of Real Estate Heldforinvestment | 133,206 | — | — |
| Payments For Investment In Unconsolidated Real Estate Entities | -113,285 | -10,789 | -950.0% |
| Return Of Investment Real Estate Ventures | 200,000 | 4,200 | +4661.9% |
| Payments To Acquire Notes Receivable | -360,406 | -569,268 | +36.7% |
Show Accounts Notes Loans And Financing Receivable By Receivable Type breakouts |
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| Bridge Loan | -210,829 | -491,918 | +57.1% |
| Proceeds From Collection Of Notes Receivable | 46,338 | 47,455 | -2.4% |
| Proceeds From Sale Of Notes Receivable | 32,371 | — | — |
| Payments To Acquire Furniture And Fixtures | -8,402 | -9,652 | +13.0% |
| Net Cash from Investing | -614,255 | -764,767 | +19.7% |
| Financing Activities | |||
| Proceeds From Issuance Of Debt | 6,440,431 | 3,263,470 | +97.3% |
| Debt Repayments | -6,974,943 | -3,407,382 | -104.7% |
| Proceeds From Issuance Of Unsecured Debt | 850,000 | 600,000 | +41.7% |
| Payments Of Financing Costs | -13,373 | -5,719 | -133.8% |
| Share Repurchases | -8,615 | — | — |
| Cash Portion Of Redemption Of Operating Partnership Units | -279 | — | — |
| Payments Of Dividends Common Stock | -688,085 | -687,636 | -0.1% |
| Payments Of Dividends Minority Interest | -30,761 | -32,177 | +4.4% |
| Net Cash from Financing | -425,625 | -269,572 | -57.9% |
| Supplemental | |||
| Interest Paid | 283,419 | 230,242 | +23.1% |
| Income Taxes Paid | 23,955 | 22,034 | +8.7% |
| Unpaid Capital Expenditures | -14,014 | -4,754 | -194.8% |
| Other Cash Flow | |||
| Net Change in Cash | -14,615 | -23,539 | +37.9% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 128,688 | 81,544 | +57.8% |
| Restricted Cash | 3,643 | 4,571 | -20.3% |
| Noncash Or Part Noncash Acquisition Net Real Estate Assets Acquired | 111,984 | — | — |
| Stock Issued1 | -5,878 | — | — |
| Investments In Real Estate Joint Ventures Net Of Distributions Received | -105,471 | — | — |
| Asset Acquisition Real Estate Assets Net Liabilities Assumed | -635 | — | — |
| Real Estate Additions Portion Not Yet Paid | 14,014 | 4,754 | +194.8% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.