This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Unlocking Extraordinary Returns With Extra Space

NEW YORK ( TheStreet) -- Extra Space Storage (EXR - Get Report) is the second-largest publicly listed self storage REITs in the U.S. With more than 900 facilities (owned and managed) in a portfolio that spans 34 states, Extra Space has an exceptional, well-balanced revenue model.

In addition to its diverse operating platform, Extra Space is best known for its innovative marketing initiatives that have allowed the Salt Lake City-based REIT to leverage technology to drive consumers to rent storage space.  

With a strategic focus on quality and innovation, Extra Space has produced exceptional operating results, as evidenced by an extraordinary year-over-year total return of 73.73%.  



 



 A few days ago I had an opportunity to sit down with Spencer Kirk, the CEO and president, at The Street's New York headquarters. During the interview, Kirk talked about the company's leading results and innovatively successful operating platform.  

Thomas: Spencer, first off I want to congratulate you and your team on some exceptional and remarkable results. Starting with your most recent results, Extra Space led the sector in both revenue gains (up 6.7%) and net operating income (up 10.2%). What is driving the performance?  

Kirk:  One of the strongest factors driving the performance of Extra Space Storage has been our use of technology. Technology is the enabler that is driving the results of well-performing operators and is the bane of other operators who have yet to harness its benefits. The Internet was often hyped up as "the great equalizer," but we've found that it's proven to be "the great divider."

We've realized that we have to identify, embrace and embed technology into every aspect of our business. Extra Space has a team of more than 40 people who focus strictly on e-marketing. We're in a need-driven business, so when our customers are looking for convenient, clean, secure and well-priced storage, they turn to the Internet. And when they turn to the Internet, we'll be their top search result.  

Thomas: Remarkably, Extra Space has racked up 26 quarters of average same-store outperformance. What is the secret to the highly sustainable income performance?  

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
EXR $66.98 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs