The REIT raises its full-year guidance after reporting 4.9% year-over-year growth in Q2 core FFO per share.
Extra Space Storage increased its 2026 core funds from operations (FFO) per share forecast to a range of $8.25-$8.40. The revision follows a strong Q2 performance, where core FFO per share reached $2.15, up 4.9% from the prior year.
The company also raised its same-store revenue growth outlook to 1%-2%, after posting a 2.4% increase in Q2. Management attributed the gains to improved occupancy and rental rates in its storage portfolio.
Shares showed limited movement in after-hours trading as investors digested the updated guidance.