EXTRA SPACE STORAGE (EXR) Stocks
ABOUT EXTRA SPACE STORAGE
📊 Extra Space Storage Inc. is an American fully integrated, self-managed and self-administered real estate investment trust (REIT). It owns,buys, develops, redevelops and operates professionally managed self-storage properties.
📊 The company has 1 647 facilities across 39 U.S. states as well as in Washington, D.C. and Puerto Rico.
📊 It is the second biggest owner and/or operator of such properties in the U.S. The company is the largest self-storage management company in the country. Storage units have the option of climate controlled or non-climate controlled.
📊 Extra Space Storage Inc.’s history dates back to 1977 when it was founded by Kenneth Woolley, who is still the chairman. In 2019 the company is headquartered in Salt Lake City, Utah, and today it has almost 4 000 employees.
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HISTORY OF EXTRA SPACE STORAGE
- Extra Space Storage Inc. is the successor to Extra Space Development Co., founded in 1979 as a limited partnership. Two years prior, in 1977, Kenneth Woolley builds his first self-storage facility with Bill Neilson of Neilson Enterprises, in Billings Montana. The company is called Secure-It Mini Storage. Woolley is a general partner, Neilson Enterprises a limited partner and Richard S. Tanner an additional partner. Woolley and Tanner develop self-storage properties in 11 U.S. states between 1979 and 2004.
- Tanner serves as President of the affiliated Extra Space Management Co. for 15 years during this period. Later he serves as the Senior Vice President of Development and Construction alongside Woolley. Both also serve as licensed Real Estate Brokers in various states, facilitating third party management as well as the buying of existing storage properties.
- In 1998 Woolley partners with Spencer F. Kirk (co-founder of Megahertz) and Extra Space Storage creates several joint venture partnerships with companies such as Prudential Real Estate.
- Extra Space Storage Inc. completes its initial public offering on the New York Stock Exchange in August 2004. The following year, in a joint venture with PGIM, the company buys Storage USA for the price of $2.3 billion. This acquisition adds more than 400 additional properties and expands the company’s footprint into 34 states. The transaction is the largest of its time within the self-storage industry.
- Through the following years Extra Space Storage Inc. continues to grow and its developments exceed $100 million per annum.
- The company’s development and construction winds down by 2010 and it starts focusing its growth efforts on third party property management and selective acquisitions under the Extra Space Storage brand.
- The company expands its portfolio to more than 1 000 stores by the end of 2013, operating in 36 U.S. states, Puerto Rico and Washington, D.C. It is added to the S&P 500 Index in 2016.
VISION & VALUES OF EXTRA SPACE STORAGE
- Extra Space Storage mission is sustainable growth – based on six goals: Maximize customer satisfaction; develop and maintain mutually beneficial business relationships; provide excellent service and products; grow the business; increase shareholder value and make the company a great place for employees.
MARKET PERFORMANCE OF EXTRA SPACE STORAGE
- Extra Space Storage Inc.trades on the New York Stock Exchange under the NYSE stock symbol “EXR”. It is an S&P 500 Component.
- In 2018 the company’s revenue is $1.196 billion and operating income is $619.7 million. Its net income is $447.0 million and total assets are $7.847 billion.
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LATEST NEWS EXTRA SPACE STORAGE
Before buying any stock or share one has to consider a few factors.
STEP 1: PROPER RESEARCH IS ESSENTIAL
Upon deciding you want to buy EXTRA SPACE STORAGE Stocks / Shares, it is critical for the serious investor to do proper research into the said company. Its values should align with those of the investor’s current portfolio. An investor needs to familiarise himself with the basics and history of the company, as well as its leadership and performance in the market. Its company reports should also be scrutinized.
Consultation with a brokerage firm can also assist in determining whether investing in a specific company will complement the investor’s current portfolio. The investment “risk ladder”, which identifies asset classes based on their relative riskiness, is another useful tool when determining which company’s stock / share is the best to buy.
STEP 2: CALCULATE THE AMOUNT OF INVESTMENT IN EXTRA SPACE STORAGE STOCKS / SHARES
It is important for an investor to monitor his total investment in stock in order to keep his portfolio aligned to his investment strategy. The overall value of his holdings will change with the fluctuation in stock prices, which can throw his portfolio off balance. To determine the amount to invest, multiply the number of shares of each stock by its current market price to determine the total investment in that specific stock. For example, if you own 100 shares of a $5 stock, multiply 100 by $5 to get $500.
STEP 3: DECIDE ON THE STOCK / SHARE ORDER TYPE
Investors can choose from a market order, a limit order, a stop order (also referred to as a stop-loss order) or a buy/sell stop order. It is important to familiarise yourself with each type’s pros and cons before deciding which one will suit your current stock profile best. An investor should be guided in this choice by his investment objective.
STEP 4: OPEN A BROKERAGE ACCOUNT
A brokerage account – also known as taxable investment account – is similar to a retirement account, but more flexible. Where a retirement account has limitations on the amount of money that can be contributed annually, and restrictions on when funds can be withdrawn, a brokerage account is more flexible. The latter has no income or contribution limit and the investor can withdraw his money at any given time. This flexibility, together with its potential investment gains, makes a brokerage account more attractive to serious investors. Brokerage accounts are ideal for goals or savings that are further than five years away, but closer than retirement. It can also supplement an investor’s emergency savings.
STEP 5: COMMIT AND PURCHASE EXTRA SPACE STORAGE STOCKS / SHARES
Lastly, commit to the stock. Pro Tip: Monitor the value of your stock to ensure you have a growing stock value and dividend pay-out. Regularly check the share price online to ensure your investment delivers a positive return on investment. You are now a proud owner of EXTRA SPACE STORAGE stocks / shares.
5 Questions to ask yourself before purchasing any stocks or shares.
- Is it the best time to buy this stock / share?
- Should I buy EXTRA SPACE STORAGE stocks / shares in the current economic climate?
- Can I afford to buy this stock / share?
- What is the forecast of the stock / share growth?
- What is the current price per earning ration on the stock / share?
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