Extra Space Storage shares are trading lower after the company reported worse-than-expected Q2 revenue results and a year-over-year decrease in Core FFO results. Additionally, the company cut FY23 Core FFO guidance.
Portfolio Pulse from Benzinga Newsdesk
Extra Space Storage reported worse-than-expected Q2 revenue results and a year-over-year decrease in Core FFO results. The company also cut FY23 Core FFO guidance, leading to a drop in its share price.
August 04, 2023 | 3:41 pm
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Extra Space Storage's worse-than-expected Q2 results and reduced FY23 Core FFO guidance could negatively impact its stock price in the short term.
Extra Space Storage's Q2 results fell short of expectations, and the company also reduced its FY23 Core FFO guidance. These factors could lead to a decrease in investor confidence, potentially driving the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100