Extra Space Storage (NYSE: EXR) reported Q4 EPS of $0.86, $0.07 better than the analyst estimate of $0.79. Revenue for the quarter came in at $335.8 million versus the consensus estimate of $289.61 million.

Highlights for the three months ended December 31, 2019:

• Achieved net income attributable to common stockholders of $0.86 per diluted share, representing a 7.5% increase compared to the same period in 2018.
• Achieved funds from operations attributable to common stockholders and unit holders (\"FFO\") of $1.26 per diluted share. FFO, excluding adjustments for deferred financing costs related to redemption of notes payable to trusts and non-cash interest (\"Core FFO\"), was $1.27 per diluted share, representing a 4.1% increase compared to the same period in 2018.
• Increased same-store revenue by 2.5% and same-store net operating income (\"NOI\") by 1.0% compared to the same period in 2018.
• Reported same-store occupancy of 92.4% as of December 31, 2019, compared to 91.7% as of December 31, 2018.
• Acquired five operating stores for approximately $50.9 million.
• In conjunction with joint venture partners, acquired three stores at completion of construction (a "Certificate of Occupancy store" or "C of O store") for a total cost of approximately $60.0 million, of which the Company invested $18.1 million.
• Added 41 stores (gross) to the Company's third-party management platform. As of December 31, 2019, the Company managed 646 stores for third parties and 246 stores in joint ventures, for a total of 892 managed stores.
• Paid a quarterly dividend of $0.90 per share.

Joe Margolis, CEO of Extra Space Storage Inc., commented: "Extra Space delivered another solid year of performance despite significant new supply. Same-store revenue increased 3.5%, same-store NOI increased 2.9%, and Core FFO per share increased 4.5% year-over-year, demonstrating the strength of our diversified portfolio. The fourth quarter marks the end of not only another good year, but an incredible decade of performance. During that time, Extra Space Storage provided the highest total 10-year return of any publicly traded REIT, and one of the highest total returns of any company in the S&P 500."

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