Extra Space Storage Inc., a real estate investment trust (REIT), engages in the ownership, operation, acquisition, development, and redevelopment of professionally managed self-storage facilitates in the United States. Properties As of December 31, 2006, the company held ownership interests in 567 properties located in 32 states and Washington, D.C. with an aggregate of approximately 41 million square feet of net rentable space and approximately 280,000 customers. Of these 567 properties, 219 are wholly owned, and 348 are owned in joint venture partnerships. An additional 74 properties are owned by franchisees or third parties and operated by the company bringing total properties which it owns and/or manage to 641. The company’s business is conducted through Extra Space Storage LP (the Operating Partnership), and through its wholly owned Massachusetts business trust subsidiaries. Segments The company operates in two segments: Property Management and Development and Rental Operations. The company’s Property Management and Development activities include acquiring, managing, developing and selling self-storage facilities. The Rental Operations activities include rental operations of self-storage facilities. Competition The company’s competitors include Public Storage, Inc., Sovran Self-Storage, Inc., and U-Store-It, Inc. Tax Status The company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended. As a REIT, the company generally distributes approximately 90% of its net taxable income and would not be subject to federal income tax on income that it distributes to its stockholders. History Extra Space Storage, Inc. was founded in 1977.
extra space storage inc
(EXR:New York Consolidated)
2795 East Cottonwood Parkway
Salt Lake City, UT 84121
|Public Storage||$175.18 USD||+1.33|
|Sovran Self Storage Inc||$77.27 USD||+0.12|
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