Quarterly ResultApr 28, 2026, 04:32 PM
EXR Q1 Core FFO $2.04, +2.0%; Same-Store Rev +1.7%
AI Summary
Extra Space Storage Inc. reported Q1 2026 Core FFO of $2.04 per diluted share, a 2.0% increase year-over-year. Net income attributable to common stockholders decreased by 10.9% to $1.14 per diluted share, primarily due to a gain from real estate assets sold in the prior year. The company achieved same-store revenue growth of 1.7% and same-store net operating income growth of 1.2%. EXR also acquired one operating store for $12.5 million and added 60 net stores to its third-party management platform.
Key Highlights
- Core FFO per diluted share was $2.04, up 2.0% year-over-year.
- Net income per diluted share was $1.14, down 10.9% year-over-year.
- Same-store revenue increased by 1.7% year-over-year.
- Same-store net operating income (NOI) increased by 1.2% year-over-year.
- Ending same-store occupancy was 93.0% as of March 31, 2026.
- Acquired one operating store for $12.5 million.
- Added 60 net stores to the third-party management platform.
- Paid a quarterly dividend of $1.62 per share.