Extra Space Storage reports Q1 Core FFO $2.04, consensus $2.01

Reports Q1 revenue $856.03, consensus $727.72M. Reports Q1 Same-store revenue up 1.7% and same-store net operating income up by 1.2% compared to the same period in the prior year. Joe Margolis, CEO of the Company, stated: “We are off to a strong start to 2026, with Core FFO of $2.04 per share in the Q1, up 2.0% year-over-year. Our portfolio is experiencing broad-based improvement with positive new and existing customer rate gains and industry leading occupancy, resulting in same-store revenue growth of 1.7%. Also, our external growth channels continue to perform well, with disciplined investments across acquisitions, bridge lending, and third-party management driving consistent returns.”