Extra Space Storage reported quarterly funds from operations of $2.15 per share, beating the Zacks Consensus Estimate of $2.06 per share and marking a 4.37% surprise. Revenue came in at $874.15 million, surpassing the consensus estimate by 0.77% and up from $841.62 million a year ago. The company has now topped consensus FFO estimates in each of the last four quarters and revenue estimates in three of the past four quarters. Shares have gained about 13.9% year to date, outpacing the S&P 500's 8.3% advance. The current consensus FFO estimate stands at $2.09 on $880.8 million in revenue for the coming quarter and $8.26 on $3.46 billion in revenue for the fiscal year.
Extra Space Storage IncExtra Space Storage beat Q2 FFO and revenue estimates, marking its fourth consecutive FFO beat and third revenue beat in four quarters.
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