Group 1 - Extra Space Storage (EXR) reported revenue of $824.8 million for the quarter ended September 2024, marking a year-over-year increase of 10.3% [1] - The earnings per share (EPS) for the same period was $2.07, compared to $0.96 a year ago, indicating significant growth [1] - The reported revenue exceeded the Zacks Consensus Estimate of $821.37 million by 0.42%, while the EPS surprise was 1.97% above the consensus estimate of $2.03 [1] Group 2 - Key metrics for Extra Space Storage included property rental revenue of $710.87 million, surpassing the estimated $707.21 million, reflecting a 9.2% year-over-year change [3] - Management and franchise fees were reported at $29.88 million, slightly above the estimated $29.82 million, with a year-over-year increase of 6.7% [3] - Tenant insurance revenue reached $84.05 million, exceeding the average estimate of $83.22 million, representing a significant year-over-year increase of 21.6% [3] Group 3 - The diluted net income per common share was reported at $0.91, below the average estimate of $1.12 from six analysts [3] - Over the past month, shares of Extra Space Storage have returned -7.1%, contrasting with the Zacks S&P 500 composite's increase of 1.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]
Compared to Estimates, Extra Space Storage (EXR) Q3 Earnings: A Look at Key Metrics