Extra Space Storage Inc. Releases Third-Quarter 2011 Dividend

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The board of directors for Extra Space Storage Inc., a self-storage real estate investment trust, declared a quarterly dividend of $0.14 per share on the company’s common stock for the third quarter 2011. The dividend is payable on Sept. 30 to stockholders of record at the close of business on Sept. 15.

At the end of July, Extra Space released operating results for the three and six months ending June 30. The company posted achieved funds from operations of $0.27 per diluted share, including development dilution of $0.02 per share resulting in approximately 22 percent year-over-year growth for the quarter. It also grew same-store occupancy by 290 basis points to 89.0 percent compared to 86.1 percent during the same time period in 2010.

Headquartered in Salt Lake City, Extra Space is a real estate investment trust that owns or operates 860 self-storage facilities in 34 states and Washington, D.C. The company's properties comprise approximately 570,000 units and more than 62 million square feet of rentable storage space.

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