Extra Space Storage Inc. (NYSE: EXR), a leading owner and operator of self-storage properties in the United States, announced operating results for the three and six months ended June 30, 2014. Highlights for the three months ended June 30, 2014:
- Achieved funds from operations (“FFO”) of $0.63 per diluted share. Excluding costs associated with acquisitions and non-cash interest, FFO as adjusted was $0.64 per diluted share, representing a 25.5% increase compared to the same period in 2013.
- Increased same-store revenue and net operating income (“NOI”) by 7.9% and 9.9%, respectively, compared to the same period in 2013.
- Increased same-store occupancy by 160 basis points to 92.4% as of June 30, 2014, compared to 90.8% as of June 30, 2013.
- Acquired eight properties for approximately $91.2 million.
- Paid a quarterly dividend of $0.47 per share, a 17.5% increase.
About Extra Space Storage Inc.
Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust. As of June 30, 2014, the Company owned and/or operated 1,071 self-storage properties in 35 states, Washington, D.C. and Puerto Rico. The Company’s properties comprise approximately 715,000 units and approximately 79.0 million square feet of rentable space. Extra Space Storage, Inc. offers customers a wide selection of conveniently located and secure storage solutions across the country, including boat storage, RV storage and business storage. The Company is the second largest owner and/or operator of self-storage properties in the United States. For more information, please visit www.extraspace.com.