earnings
confidence high
sentiment neutral
materiality 0.75
Extra Space Q2 EPS $0.88 (-41% YoY) on $54.7M write-down; Core FFO $2.06 flat
Extra Space Storage Inc.
2024-Q2 EPS reported
$1.88
revenue$1,610,202,000
- Net income per diluted share $0.88, down 41.3% YoY; Core FFO per share $2.06, flat YoY.
- Same-store revenue +0.6%, same-store NOI -1.1%; ending occupancy 94.3% vs 94.0%.
- Loss of $54.7M on write-down of seven properties listed for sale.
- FY 2024 Core FFO guidance narrowed to $7.95-$8.15 (low end raised from $7.85).
- Paid quarterly dividend of $1.62/share; 75% fixed-rate debt, weighted avg rate 4.6%.