Extra Space Storage reported second-quarter revenue of $874.15 million, a 3.9% increase from a year ago and above the Zacks Consensus Estimate of $867.44 million. Earnings per share came in at $2.15, surpassing the consensus estimate of $2.06 and up from $1.25 in the prior-year period. Property rental revenue reached $746.16 million, while same-store rental revenues were $690.19 million, both exceeding analyst projections. Tenant reinsurance revenue rose 5.1% to $93.08 million, and management fees and other income grew 8.9% to $34.9 million. Same-store net operating income was $496.08 million, ahead of the $481.24 million estimate.
Extra Space Storage IncQ2 revenue and EPS beat estimates, with same-store NOI exceeding forecasts.