Extra Space Q3 FY2026: Core FFO up 4.3%, full-year guidance raised
Extra Space delivered a modest but clean quarter: same-store net operating income rose 4.6%, Core FFO per share grew 4.3% to $2.17, and management raised full-year Core FFO guidance to $8.40–$8.50 from $8.25–$8.40. Read it as an operating beat wrapped in slow growth — total revenue rose 3.6% and GAAP EPS of $1.17 landed just under the $1.19 consensus.
1 · Expected vs. Actual
Free preview belowGAAP EPS of $1.17 came in about $0.02, or 1.4%, below the $1.1868 consensus, while Core FFO per share of $2.17 rose 4.3% from $2.08. Net income attributable to common stockholders of $247.76 million jumped 49.3% from $166.00 million, but that comparison flatters the company — last year's quarter carried a $105.13 million loss on real estate sold. Judge the quarter on Core FFO, not the headline net income jump.
Total revenue was $889.79 million versus $858.46 million a year ago, a 3.6% increase, with property rental of $760.84 million doing most of the work. One data caveat: the raw filing tags $34.76 million as revenue, but that is only the management-fee line; the three reported revenue lines sum to $889.79 million. Growth of this size is respectable for a storage REIT, but it is not accelerating.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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