Extra Space Storage (EXR) Tops Q3 EPS by 2c

Extra Space Storage (NYSE: EXR) reported Q3 EPS of $0.74, $0.02 better than the analyst estimate of $0.72.

• Achieved net income attributable to common stockholders of $0.74 per diluted share, representing a 20.4% decrease compared to the same period in 2016.
• Achieved funds from operations attributable to common stockholders and unit holders (\"FFO\") of $1.09 per diluted share. Excluding non-cash interest and property losses and tenant reinsurance claims due to hurricanes, FFO as adjusted was $1.13 per diluted share, representing a 10.8% increase compared to the same period in 2016.
• Increased same-store revenue by 4.8% and same-store net operating income (\"NOI\") by 5.5% compared to the same period in 2016.
• Reported same-store occupancy of 93.9% as of September 30, 2017, compared to 92.5% as of September 30, 2016.
• Acquired three operating stores and one store at completion of construction (a \"Certificate of Occupancy store\") for a total purchase price of approximately $31.8 million.
• Acquired one Certificate of Occupancy store with a joint venture partner for a total purchase price of approximately $8.8 million.
• Paid a quarterly dividend of $0.78 per share.

For earnings history and earnings-related data on Extra Space Storage (EXR) click here.

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