Extra Space Storage's Q4 core FFO rises

Extra Space Storage

19/02/2026 21:27

Overview

Self-storage REIT's Q4 net income per share rose 9.7% yr/yr

Q4 core FFO per share increased 2.5% yr/yr

Company acquired 27 stores for $304.8 mln in Q4

Outlook

Company expects 2026 core FFO between $8.05 and $8.35 per share

Same-store revenue growth projected between -0.50% and 1.50% for 2026

Company anticipates same-store NOI growth between -2.25% and 1.25% in 2026

Result Drivers

SAME-STORE PERFORMANCE - Same-store revenue increased by 0.4% and same-store NOI by 0.1% despite a slight drop in occupancy

ACQUISITIONS - Acquired 27 stores for $304.8 mln and expanded third-party management platform by 78 stores

BRIDGE LOAN PLATFORM - Originated $80.4 mln in mortgage and mezzanine bridge loans, highlighting platform's strength

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Dividend
$1.62


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 12 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for Extra Space Storage Inc is $148.00, about 1.9% above its February 18 closing price of $145.18

The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release: ID:nPn8DnPHGa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)