Extra Space Storage is a self-storage real estate investment trust headquartered in Cottonwood Heights, Utah. Founded in 1977 by Kenneth M. Woolley, the company has developed into the largest self-storage operator in the United States by store count. Trading on the New York Stock Exchange under ticker symbol EXR, Extra Space Storage is a member of the S&P 500 index. The company operates facilities across 42 states and Washington, D.C., offering climate-controlled units, drive-up storage, and vehicle storage for boats, RVs, and business needs. The company's investment strategy centers on portfolio growth through acquisitions, joint ventures, and third-party management platforms. In July 2023, Extra Space Storage completed a $12 billion merger with Life Storage, adding approximately 1,200 facilities to its portfolio and creating an enterprise value of $46 billion. This transaction followed the September 2022 acquisition of Storage Express for $590 million, expanding the company's footprint in smaller, rural markets. The combined portfolio now exceeds 4,000 facilities comprising over 280 million square feet of rentable space serving 2.4 million customers. Extra Space Storage employs a diversified ownership structure where 49% of stores are wholly owned, 39% are managed through its third-party ManagementPlus platform, and 12% are held in joint ventures. This model provides flexibility for growth with varied capital requirements while creating economies of scale. The company operates in 98 of the 100 largest metropolitan markets in the United States, with facilities distributed across urban and suburban locations. Management targets markets with population growth trends and housing density that drive demand for storage solutions.