Extra Space Storage (EXR) Tops Q3 FFO Estimates

Core Insights - Extra Space Storage (EXR) reported quarterly funds from operations (FFO) of $2.08 per share, exceeding the Zacks Consensus Estimate of $2.06 per share, and slightly up from $2.07 per share a year ago [1][2] - The company posted revenues of $858.46 million for the quarter ended September 2025, which was below the Zacks Consensus Estimate by 0.73%, compared to $824.8 million in the same quarter last year [3] - The stock has underperformed the market, losing about 1.8% since the beginning of the year, while the S&P 500 gained 17.2% [4] Financial Performance - The FFO surprise for the recent quarter was +0.97%, while the previous quarter had a surprise of -0.49% [2] - Over the last four quarters, Extra Space Storage has surpassed consensus FFO estimates three times [2] - The current consensus FFO estimate for the upcoming quarter is $2.04, with expected revenues of $857.99 million, and for the current fiscal year, the estimate is $8.15 on $3.39 billion in revenues [8] Industry Context - The REIT and Equity Trust - Other industry, to which Extra Space Storage belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [9] - The performance of Extra Space Storage's stock may be influenced by the overall industry outlook and trends in estimate revisions [6][9]