Extra Space Storage Q2 Core FFO Per Share $2.06 Down From $2.13 YoY, Property Rental Revenues $440.75M Miss $450.93M Estimate
Portfolio Pulse from Benzinga Newsdesk
Extra Space Storage (NYSE:EXR) reported a decrease in Q2 Core FFO per share from $2.13 YoY to $2.06. The company's Property Rental Revenues of $440.75M missed the analyst consensus estimate of $450.93M by 2.26%, despite being an 8.01% increase from the same period last year.
August 04, 2023 | 2:21 pm
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NEGATIVE IMPACT
Extra Space Storage's Q2 earnings report shows a decrease in Core FFO per share and missed revenue estimates, despite YoY growth in Property Rental Revenues.
The decrease in Core FFO per share and missed revenue estimates could negatively impact investor sentiment, potentially leading to a short-term decrease in stock price. However, the YoY growth in Property Rental Revenues may mitigate this impact somewhat.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100