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© ExtraSpace Storage Extra Space Storage Inc. Reports 2021 First Quarter Results April 28 , 2021 SALT LAKE CITY , April 28 , 2021 / PRNewswire / -- Extra Space Storage Inc. ( NYSE : EXR ) ( the " Company " ) , a leading owner and operator of self - storage facilities in the United States and a member of the S & P 500 , announced operating results for the three months ended March 31 , 2021 . ExtraSpace Storage Highlights for the three months ended March 31 , 2021 : • Achieved net income attributable to common stockholders of $ 1.53 per diluted share , representing a 84.3 % increase compared to the same period in 2020 . • Achieved funds from operations attributable to common stockholders and unit holders ( " FFO " ) of $ 1.50 per diluted share . FFO , excluding adjustments for non - cash interest ( " Core FFO " ) , was $ 1.50 per diluted share , representing a 21.0 % increase compared to the same period in 2020 . • Increased same - store revenue by 4.6 % and same - store net operating income ( " NOI " ) by 6.5 % compared to the same period in 2020 . • Reported same - store occupancy of 95.7 % as of March 31 , 2021 , compared to 90.9 % as of March 31 , 2020 . • Acquired nine operating stores for a total cost of approximately $ 148.4 million . • Sold 16 wholly - owned stores into a new joint venture for a total sales price of $ 168.9 million , resulting in a gain on real estate transactions of $ 64.5 million . • Closed $ 27.1 million in mortgage and mezzanine bridge loans , and sold $ 81.8 million in mortgage bridge loans . • Sold 1,600,000 shares of common stock through an overnight offering and an additional 585,685 shares of common stock using the Company's " at the market " ( " ATM " ) program resulting in total net proceeds of approximately $ 273.7 million . • Received a Baa2 issuer credit rating with a stable outlook from Moody's Investors Service . • Added 61 stores ( gross ) to the Company's third - party management platform . As of March 31 , 2021 , the Company managed 763 stores for third parties and 269 stores in joint ventures , for a total of 1,032 managed stores . • Paid a quarterly dividend of $ 1.00 per share . Joe Margolis , CEO of Extra Space Storage Inc. , commented : " We are off to a great start in 2021 , with the strongest first quarter occupancy in our history , resulting in strong same - store NOI growth , and excellent FFO growth of 21.0 % . Our record - high occupancy is resulting in greater pricing power , and we are well positioned for a strong summer leasing season . Our year - to - date performance , the resilience of storage fundamentals and our accretive external growth have allowed us to raise our 2021 annual FFO guidance . " FFO Per Share : The following table ( unaudited ) outlines the Company's FFO and Core FFO for the three months ended March 31 , 2021 and 2020. The table also provides a reconciliation to GAAP net income attributable to common stockholders and earnings per diluted share for each period presented ( amounts shown in thousands , except share and per share data ) :