# Extra Space Storage Inc.

Summary updated: 2026-10-02T10:32:58.710099Z
Canonical: https://finbar.com/research/companies/extra-space-storage

## Overview

Extra Space Storage Inc. is a U.S. self-storage real estate investment trust (REIT) that owns, operates, manages, acquires, develops and redevelops storage properties, and provides lending to storage-property owners. Its core business includes renting storage space to personal and business customers, alongside tenant reinsurance and property management services. [1](https://app.finbar.com/go?id=P10110099)

As of June 30, 2026, the company reported owning and/or operating 4,410 stores across 42 states and Washington, D.C. [2](https://ir.extraspace.com/news/news-details/2026/Extra-Space-Storage-Inc--Reports-2026-Second-Quarter-Results/default.aspx) For the year ended December 31, 2025, it reported $3.248 billion in total segment revenues. [3](https://app.finbar.com/go?id=T10719145) Extra Space says it was founded in 1977, and its stated mission is “to help people build a better tomorrow.” [4](https://news.extraspace.com/about-us/default.aspx) A company announcement in March 2025 cited more than 8,000 team members. [5](https://ir.extraspace.com/news/news-details/2025/Extra-Space-Storage-Celebrates-4000-Stores-Milestone/default.aspx)
[1](https://app.finbar.com/go?id=P10110099)[3](https://app.finbar.com/go?id=T10719145)[2](https://ir.extraspace.com/news/news-details/2026/Extra-Space-Storage-Inc--Reports-2026-Second-Quarter-Results/default.aspx)[4](https://news.extraspace.com/about-us/default.aspx)[5](https://ir.extraspace.com/news/news-details/2025/Extra-Space-Storage-Celebrates-4000-Stores-Milestone/default.aspx)

## Products & services

Extra Space Storage offers self-storage units in sizes commonly ranging from 5×5 to 10×30 feet, including climate-controlled units advertised at typically 55–80°F. It also offers indoor, covered and outdoor storage for vehicles, boats and RVs; sizes, amenities and availability vary by facility. [6](https://www.extraspace.com/self-storage/storage-unit-size-guide/)[7](https://www.extraspace.com/self-storage/climate-controlled-storage/)[8](https://www.extraspace.com/self-storage/vehicle-storage/)

Additional customer offerings include tenant protection coverage, packing supplies such as boxes, tape and locks, and—in some locations—move-in trucks. The 2025 filing describes tenant-reinsurance policies of up to $10,000; the customer-facing protection-plan page advertises options up to $15,000, with terms varying by state and plan. [9](https://app.finbar.com/go?id=P80321776)[10](https://www.extraspace.com/storage-insurance/)[11](https://www.extraspace.com/self-storage/packing-supplies/)[12](https://www.extraspace.com/self-storage/faq/do-i-get-a-move-in-truck-with-my-rental/) Digital account and app features include bill payment, payment history and gate-code retrieval; at select Bluetooth-enabled facilities, users can operate gates, entry keypads and digital unit locks, share digital access and view access activity. [13](https://www.extraspace.com/mobile-app/)[14](https://www.extraspace.com/self-storage/faq/can-i-pay-my-bills-online/)

For property owners, Extra Space markets ManagementPlus, a third-party management service that includes technology and operating support. At year-end 2025, it reported managing 1,856 properties totaling 145.7 million rentable square feet. [15](https://www.extraspace.com/managementplus/)[16](https://app.finbar.com/go?id=T5456458) The company does not disclose revenue by specific storage-unit type or by supplies, truck or digital offerings. Its broader reported revenue lines were property rental (85.7% of FY2025 revenue; 85.5% in H1 2026), tenant reinsurance (10.4%; 10.5%) and management fees and other income (3.8%; 4.0%), calculated from reported totals; the last category combines management fees with other income. [17](https://app.finbar.com/go?id=T2158506)[18](https://app.finbar.com/go?id=T16633631)[1](https://app.finbar.com/go?id=P10110099)
[9](https://app.finbar.com/go?id=P80321776)[16](https://app.finbar.com/go?id=T5456458)[16](https://app.finbar.com/go?id=T5456458)[17](https://app.finbar.com/go?id=T2158506)[17](https://app.finbar.com/go?id=T2158506)[17](https://app.finbar.com/go?id=T2158506)[17](https://app.finbar.com/go?id=T2158506)[18](https://app.finbar.com/go?id=T16633631)[18](https://app.finbar.com/go?id=T16633631)[18](https://app.finbar.com/go?id=T16633631)[18](https://app.finbar.com/go?id=T16633631)[1](https://app.finbar.com/go?id=P10110099)[6](https://www.extraspace.com/self-storage/storage-unit-size-guide/)[7](https://www.extraspace.com/self-storage/climate-controlled-storage/)[8](https://www.extraspace.com/self-storage/vehicle-storage/)[10](https://www.extraspace.com/storage-insurance/)[11](https://www.extraspace.com/self-storage/packing-supplies/)[12](https://www.extraspace.com/self-storage/faq/do-i-get-a-move-in-truck-with-my-rental/)[13](https://www.extraspace.com/mobile-app/)[14](https://www.extraspace.com/self-storage/faq/can-i-pay-my-bills-online/)[15](https://www.extraspace.com/managementplus/)

## Geographic presence

Extra Space Storage operates across 42 U.S. states and Washington, D.C. Its footprint spans Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin. At June 30, 2026, it reported 4,410 properties with 341.0 million net rentable square feet. [19](https://app.finbar.com/go?id=T16633655)

The largest state portfolios by property count were Texas (591), Florida (565), and California (433); together they accounted for about 36% of the total. The company’s principal office is at 2795 East Cottonwood Parkway, Suite 300, Salt Lake City, Utah 84121. [19](https://app.finbar.com/go?id=T16633655)[20](https://app.finbar.com/go?id=P117976981) Its filings report revenue by business segment rather than by geography, so a regional revenue allocation is not available. [3](https://app.finbar.com/go?id=T10719145)
[19](https://app.finbar.com/go?id=T16633655)[20](https://app.finbar.com/go?id=P117976981)[3](https://app.finbar.com/go?id=T10719145)

## Business segments

Extra Space Storage reports two segments: Self-Storage Operations, which encompasses rental operations, and Tenant Reinsurance, which reinsures risks relating to tenants’ stored goods. The company’s Executive Committee assesses segment performance using net operating income (NOI). [21](https://app.finbar.com/go?id=P145410771)

For the six months ended June 30, 2026, Self-Storage Operations contributed approximately 89.0% of total segment revenue ($1,479.4 million of $1,661.6 million), while Tenant Reinsurance contributed 11.0% ($182.2 million). [22](https://app.finbar.com/go?id=T16633654) By segment NOI, the shares were approximately 87.3% for Self-Storage Operations ($1,009.4 million of $1,156.4 million total) and 12.7% for Tenant Reinsurance ($147.0 million). [22](https://app.finbar.com/go?id=T16633654)
[21](https://app.finbar.com/go?id=P145410771)[22](https://app.finbar.com/go?id=T16633654)[22](https://app.finbar.com/go?id=T16633654)[22](https://app.finbar.com/go?id=T16633654)[22](https://app.finbar.com/go?id=T16633654)[22](https://app.finbar.com/go?id=T16633654)[22](https://app.finbar.com/go?id=T16633654)[22](https://app.finbar.com/go?id=T16633654)

## Company history

Extra Space Storage traces its origins to 1977, when founder Kenneth M. “Ken” Woolley built its first storage property in Billings, Montana, under the name Secure-it Mini Storage. The company was incorporated in Maryland in 2004 and began trading on the New York Stock Exchange that August. [4](https://news.extraspace.com/about-us/default.aspx)[23](https://app.finbar.com/go?id=P9888155)[24](https://app.finbar.com/go?id=P82895099)

A major expansion came in 2005, when Extra Space acquired 458 Storage USA facilities from GE in a joint venture with Prudential. It launched a third-party management program in 2008 and acquired SmartStop in 2015, adding owned and managed locations. Extra Space joined the S&P 500 in 2016; Joe Margolis became CEO in January 2017, succeeding Spencer Kirk. [4](https://news.extraspace.com/about-us/default.aspx)[25](https://www.prnewswire.com/news-releases/extra-space-storage-set-to-join-the-sp-500-epr-properties-to-join-sp-midcap-400-us-concrete-world-wrestling-entertainment-to-join-sp-smallcap-600-300204186.html)[26](https://www.prnewswire.com/news-releases/extra-space-storage-announces-executive-leadership-transition-300325823.html)

In 2022, Extra Space completed its acquisition of Storage Express, comprising 107 properties. The following year it completed its merger with Life Storage, adding 757 wholly owned stores and one consolidated joint-venture store. In 2026, the company announced that Noah Springer would succeed Margolis as CEO on January 1, 2027. [27](https://www.prnewswire.com/news-releases/extra-space-storage-inc-acquires-storage-express-and-appoints-jefferson-shreve-to-its-board-of-directors-301625892.html)[28](https://app.finbar.com/go?id=P27595756)[29](https://ir.extraspace.com/news/news-details/2026/Extra-Space-Storage-Announces-Executive-Leadership-Transition/default.aspx)
[23](https://app.finbar.com/go?id=P9888155)[24](https://app.finbar.com/go?id=P82895099)[28](https://app.finbar.com/go?id=P27595756)[4](https://news.extraspace.com/about-us/default.aspx)[25](https://www.prnewswire.com/news-releases/extra-space-storage-set-to-join-the-sp-500-epr-properties-to-join-sp-midcap-400-us-concrete-world-wrestling-entertainment-to-join-sp-smallcap-600-300204186.html)[26](https://www.prnewswire.com/news-releases/extra-space-storage-announces-executive-leadership-transition-300325823.html)[27](https://www.prnewswire.com/news-releases/extra-space-storage-inc-acquires-storage-express-and-appoints-jefferson-shreve-to-its-board-of-directors-301625892.html)[29](https://ir.extraspace.com/news/news-details/2026/Extra-Space-Storage-Announces-Executive-Leadership-Transition/default.aspx)

## Sources

1. [Extra Space Storage Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P10110099)
2. [ir.extraspace.com](https://ir.extraspace.com/news/news-details/2026/Extra-Space-Storage-Inc--Reports-2026-Second-Quarter-Results/default.aspx)
3. [Extra Space Storage Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T10719145)
4. [news.extraspace.com](https://news.extraspace.com/about-us/default.aspx)
5. [ir.extraspace.com](https://ir.extraspace.com/news/news-details/2025/Extra-Space-Storage-Celebrates-4000-Stores-Milestone/default.aspx)
6. [www.extraspace.com](https://www.extraspace.com/self-storage/storage-unit-size-guide/)
7. [www.extraspace.com](https://www.extraspace.com/self-storage/climate-controlled-storage/)
8. [www.extraspace.com](https://www.extraspace.com/self-storage/vehicle-storage/)
9. [Extra Space Storage Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P80321776)
10. [www.extraspace.com](https://www.extraspace.com/storage-insurance/)
11. [www.extraspace.com](https://www.extraspace.com/self-storage/packing-supplies/)
12. [www.extraspace.com](https://www.extraspace.com/self-storage/faq/do-i-get-a-move-in-truck-with-my-rental/)
13. [www.extraspace.com](https://www.extraspace.com/mobile-app/)
14. [www.extraspace.com](https://www.extraspace.com/self-storage/faq/can-i-pay-my-bills-online/)
15. [www.extraspace.com](https://www.extraspace.com/managementplus/)
16. [Extra Space Storage Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T5456458)
17. [Extra Space Storage Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T2158506)
18. [Extra Space Storage Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16633631)
19. [Extra Space Storage Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16633655)
20. [Extra Space Storage Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P117976981)
21. [Extra Space Storage Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P145410771)
22. [Extra Space Storage Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16633654)
23. [Extra Space Storage Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P9888155)
24. [Extra Space Storage Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P82895099)
25. [www.prnewswire.com](https://www.prnewswire.com/news-releases/extra-space-storage-set-to-join-the-sp-500-epr-properties-to-join-sp-midcap-400-us-concrete-world-wrestling-entertainment-to-join-sp-smallcap-600-300204186.html)
26. [www.prnewswire.com](https://www.prnewswire.com/news-releases/extra-space-storage-announces-executive-leadership-transition-300325823.html)
27. [www.prnewswire.com](https://www.prnewswire.com/news-releases/extra-space-storage-inc-acquires-storage-express-and-appoints-jefferson-shreve-to-its-board-of-directors-301625892.html)
28. [Extra Space Storage Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P27595756)
29. [ir.extraspace.com](https://ir.extraspace.com/news/news-details/2026/Extra-Space-Storage-Announces-Executive-Leadership-Transition/default.aspx)

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