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Extra Space Storage Inc. Q1 2010 Earnings Call Transcript

Extra Space Storage Inc. (EXR)

Q1 2010 Earnings Conference Call

May 4, 2010 1:00 PM ET

Executives

Clint Halverson – IR

Spencer Kirk – President

Karl Haas – EVP & COO

Kent Christensen – EVP & CFO

Analysts

Eric Wolf – Citigroup

Ki Bin Kim – Macquarie

Todd Thomas – KeyBanc Capital Markets

Paula Poskon – Robert W. Baird

Smedes Rose – KBW

Michael Knott – Green Street Advisors

Presentation

Operator

Greetings and welcome to the Extra Space Storage First Quarter 2010 Earnings Conference call. (Operator Instructions) It is now my pleasure to introduce your host, Clint Halverson with Extra Space Storage. Thank you Mr. Halverson, you may begin.

Clint Halverson

Thank you, Rob. Welcome to Extra Space Storage’s first quarter 2010 conference call. In addition to our press release we’ve also furnished unaudited supplemental financial information on our website. Please remember that managements’ prepared remarks and answers to your questions contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address matters which are subject to risks and uncertainties that may cause actual results to differ from those discussed today.

Examples of forward-looking statements include those related to Extra Space Storage’s development and acquisition programs, revenues and operating income, FFO and guidance. We encourage all of our listeners to review a more detailed discussion related to these forward-looking statements contained in the Company’s filings with the SEC. Forward-looking statements represent management’s estimates as of today, Tuesday, May 4, 2010.

Extra Space Storage assumes no obligation to update these forward-looking statements in the future because of changing market conditions or other circumstances. I would now like to turn the call over to Spencer Kirk, Chairman and Chief Executive Officer.

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