Extra Space Storage Inc ( (EXR) ) has released its Q3 earnings. Here is a breakdown of the information Extra Space Storage Inc presented to its investors.
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Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a leading self-storage real estate investment trust (REIT) in the United States, known for its extensive network of self-storage facilities across the country.
In its latest earnings report for the third quarter of 2025, Extra Space Storage Inc. announced a net income of $0.78 per diluted share, a decrease of 14.3% from the previous year, primarily due to a $105.1 million loss related to assets held for sale and sold. The company’s funds from operations (FFO) per diluted share reached $2.01, with Core FFO slightly increasing by 0.5% to $2.08 compared to the prior year.
The company reported a slight decline in same-store revenue and net operating income, with a same-store occupancy rate of 93.7%. Extra Space Storage continued its expansion strategy by acquiring new properties and adding 95 stores to its third-party management platform, bringing the total to 2,222 managed stores. Additionally, the company originated $122.7 million in mortgage and mezzanine bridge loans and sold $71.1 million in mortgage bridge loans during the quarter.
Looking ahead, Extra Space Storage remains optimistic about its growth prospects, as indicated by the increase in its annual Core FFO guidance. The company is encouraged by the gradual improvement in market fundamentals and is focused on external growth initiatives, including strategic property acquisitions and expansions in its management platform.