earnings
confidence high
sentiment neutral
materiality 0.70
Extra Space Storage Q4 Core FFO $2.03 (+0.5% YoY); guides 2025 Core FFO $8.00-$8.30
Extra Space Storage Inc.
2024-FY EPS reported
$4.03
revenue$3,256,902,000
- Q4 net income $1.24/diluted share (+21.6% YoY); Core FFO $2.03/diluted share (+0.5%).
- Q4 same-store revenue -0.4%, NOI -3.5% YoY; occupancy 93.7% vs 92.5% a year ago.
- Full-year 2024 Core FFO $8.12/diluted share, up 0.2% YoY; net income $4.03/diluted share, down 15%.
- Initiated $1.0B commercial paper program; issued $300M 5.70% notes due 2028 (effective 4.74%).
- 2025 guidance: Core FFO $8.00-$8.30; same-store revenue -0.75% to +1.25%; NOI -3.0% to +0.25%.