EXR changes
Pick any two versions below to diff them.
- Price
- $151.32 → $159.21(+5.2%)
- Balance sheet
- Cash: $115M Debt: $13.4B Net debt: $13.3B added: Ratings: S&P BBB+ (stable outlook), Moody's Baa2 (stable outlook) Extra Space funds itself mainly with unsecured senior notes. At September 30, 2026, debt net of discounts and costs was about $13.41 billion: $9.42 billion of unsecured senior notes, $1.50 billion of unsecured term loans, $1.07 billion of secured notes and $1.42 billion drawn on revolving lines of credit and commercial paper. Commercial paper was $850 million of a $1.0 billion program. Cash was $115 million, down from $695 million at June 30, 2026. In July 2026, it issued $550 million of 4.90% notes due 2032. The weighted average interest rate was 4.4% and the weighted average maturity was about 4.0 years. About 79.6% of debt had fixed rates, or 89.3% after the effect of its variable rate bridge loans. Interest expense was $445 million in the first nine months of 2026. In Q3 2026, Extra Space bought back $327 million of shares. After the quarter, it used the rest of its buyback program, and on October 15, 2026, the board approved a new program of up to $500 million. The company had $800 million available under its at-the-market share program and did not use it in Q3 2026. added: Extra Space has a BBB+ rating from S&P and a Baa2 rating from Moody's, both with a stable outlook, and it plans to keep these ratings. At September 30, 2026, 1,796 of its stores were unencumbered. As of Sep 30, 2026.