The board of directors for Extra Space Storage Inc., a self-storage real estate investment trust, has declared a quarterly dividend of $0.40 per share on the company's common stock for the first quarter of 2014. This is a match to the dividend of the two previous quarters. The dividend is payable on March 28 to stockholders of record at the close of business on March 14.
In addition, the company released its fourth-quarter financial results on Feb. 20 and held a conference call on Feb. 21. CEO Spencer Kirk and Scott Stubbs, executive vice president and chief financial officer, hosted the call, which included a review of the company’s fourth-quarter performance, a discussion of recent events, and a question-and-answer period for registered financial analysts. A complete summary of the results are available at extraspace.com.
Extra Space released its quarterly earnings for the fourth quarter of 2014 last week. The company reported same-store revenue increased 6.6 percent and net operating income rose 8.9 percent compared to the same period in 2012. Same-store occupancy grew by 130 basis points to 89.2 percent as of Dec. 31, compared to 88.9 percent at the same time in 2012. Read more about the company’s financial statement here.
Headquartered in Salt Lake City, Extra Space owns or operates 1,029 self-storage properties in 35 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 680,000 units and 75 million square feet of rentable space.