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Extra Space Storage Inc. (EXR) CEO Joe Margolis on Q1 2020 Results - Earnings Call Transcript

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Extra Space Storage Inc. (NYSE:EXR) Q1 2020 Earnings Conference Call May 7, 2020 1:00 PM ET


Jeff Norman - Vice President, Investor Relations

Joe Margolis - Chief Executive Officer

Scott Stubbs - Executive Vice President and Chief Financial Officer


Ki Bin Kim - SunTrust

Mike Mueller - JPMorgan

Jeremy Metz - BMO Capital Markets

Todd Thomas - KeyBanc Capital Markets

Ronald Kamdem - Morgan Stanley

Parker Decraene - Citi

Ryan Lumb - Green Street Advisors

Steve Sakwa - Evercore

Todd Stender - Wells Fargo


Ladies and gentlemen, thank you for standing by, and welcome to the Extra Space Storage Inc. First Quarter 2020 Earnings Conference Call. [Operator Instructions] I would now like to hand the conference over to your speaker today Mr. Jeff Norman, Vice President, Investor Relations. Thank you. Please go ahead sir.

Jeff Norman

Thank you Daniel. Welcome to Extra Space Storage’s first quarter 2020 earnings call. In addition to our press release, we have furnished unaudited supplemental financial information on our website. Please remember that management’s prepared remarks and answers to your questions may contain forward-looking statements as defined in the Private Securities Litigation Reform Act. Actual results could differ materially from those stated or implied by our forward-looking statements due to risks and uncertainties associated with the company’s business. These forward-looking statements are qualified by the cautionary statements contained in the company’s latest filings with the SEC, which we encourage our listeners to review. Forward-looking statements represent management’s estimates as of today, May 7, 2020. The company assumes no obligation to revise or update any forward-looking statements because of changing market conditions or other circumstances after the date of this conference call.

I would now like to turn the call over to Joe Margolis, Chief Executive Officer.

Joe Margolis

Thank you, Jeff. Good morning and

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Comments (1)

Not a bad report. Occupancy held at 91%. Collected 93% of rents in April. Helped put some support under Life Storage. They reported after the close and it looks better than EXR's report. Hope we get a pop on friday.
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