Extra Space Storage Inc. (NYSE:EXR) Q1 2024 Earnings Conference Call May 1, 2024 1:00 PM ET Company Participants Jared Conley - Vice President of Investor Relations Joe Margolis - Chief Executive Officer Scott Stubbs - Executive Vice President & Chief Financial Officer Conference Call Participants Michael Goldsmith - UBS Jeff Spector - Bank of America Eric Wolfe - Citi Nick Yulico - Scotiabank Juan Sanabria - BMO Capital Markets Samir Khanal - Evercore ISI Keegan Carl - Wolfe Research Spenser Allaway - Gree ...

Extra Space Storage Inc. (EXR) reported first-quarter 2024 core funds from operations (FFO) per share of $1.96, which beat the Zacks Consensus Estimate by a penny. However, the figure declined 3% from the prior-year quarter.The results reflect a rise in occupancy and better-than-anticipated revenues. However, higher same-store operating expenses and increased interest expenses during the quarter were a spoilsport.Quarterly revenues of $799.5 million beat the Zacks Consensus Estimate of $786.5 million. The t ...

Extra Space Storage (EXR) reported $799.54 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 58.9%. EPS of $1.96 for the same period compares to $1.46 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $786.47 million, representing a surprise of +1.66%. The company delivered an EPS surprise of +0.51%, with the consensus EPS estimate being $1.95.While investors closely watch year-over-year changes in headline numbers -- revenue and earning ...

Extra Space Storage (EXR) came out with quarterly funds from operations (FFO) of $1.96 per share, beating the Zacks Consensus Estimate of $1.95 per share. This compares to FFO of $2.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 0.51%. A quarter ago, it was expected that this self-storage facility real estate investment trust would post FFO of $2.03 per share when it actually produced FFO of $2.02, delivering a surprise of -0.4 ...

Highlights for the three months ended March 31, 2024: Joe Margolis, CEO of Extra Space Storage Inc., commented: "We achieved positive year-over-year occupancy growth in the Extra Space and Life Storage same-store pools. We have also continued to realize G&A savings and to expand our bridge lending and third party management programs. Rental activity has been strong year to date and vacates remain muted, which positions us well to maximize revenue during the 2024 leasing season." Exhibit 99.1 Extra Space Sto ...

Extra Space Storage (EXR) , a leading self-storage real estate investment trust (REIT) in the United States, is set to release its first-quarter 2024 results on Apr 30 after market close. The company has been steadily expanding its footprint and diversifying its operations. As the market anticipates the earnings announcement, this article provides an in-depth preview of EXR’s expected performance in the first quarter, considering overall industry trends, EXR's growth strategy and acquisitions.In the last re ...

imaginima The self-storage has become materially oversupplied resulting in a greater than 30% drop in street rents from the 2022 peak. More supply remains in the pipeline which I believe will drop rates even further and make Existing Customer Rate Increases (ECRI) significantly more punishing to occupancy. The damage to the sector is readily apparent in industry reports and was the primary subject of 4Q conference calls which made it evident those participating in self-storage are painfully aware of the tou ...

valtron84/iStock via Getty ImagesPacer Industrial Real Estate ETF (NYSEARCA:INDS) is a relatively new fund that began trading in early 2018. INDS is a focused play of industrial REITs comprised primarily of industrial warehouses and self-storage facilities. This is hard to find in the REIT universe. INDS invests in industrial REITs that are a subset of the warehouse e-commerce distribution and logistic networks and self-storage facilities. As consumer e-commerce spending continues to grow and thrive, th ...

Extra Space Storage (EXR) is poised to gain from its high brand value and strong presence in major cities in the United States. Strategic acquisitions, a healthy balance sheet, opportunistic investments and a third-party management platform bode well for the company’s long-term growth. However, lower new customer rates, a development boom in many markets and a high interest rate environment pose key near-term concerns.What’s Aiding EXR?Extra Space Storage is the largest operator of self-storage properties i ...

Extra Space Storage Inc. (NYSE:EXR) Q4 2023 Earnings Conference Call February 28, 2024 1:00 PM ET Company Participants Jeffrey Norman – Senior Vice President, Capital Markets Joe Margolis – Chief Executive Officer Scott Stubbs – Executive Vice President and Chief Financial Officer Conference Call Participants Lizzy Doykan – Bank of America Michael Goldsmith – UBS Todd Thomas – KeyBanc Capital Markets Samir Khanal – Evercore ISI Nick Yulico – Scotiabank Spenser Allaway – Green Street Eric Wolfe – Citi Keegan ...