Extra Space Storage Q3 2024 Core FFO $2.07 Beats $2.04 Estimate, Sales $710.87M Miss $757.26M Estimate
Portfolio Pulse from Benzinga Newsdesk
Extra Space Storage reported Q3 2024 Core FFO of $2.07 per share, beating estimates, but sales of $710.87M missed expectations. Despite the sales miss, both FFO and sales showed year-over-year growth.
October 29, 2024 | 8:17 pm
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NEUTRAL IMPACT
Extra Space Storage's Q3 2024 Core FFO of $2.07 beat expectations, but sales of $710.87M fell short. Both metrics improved year-over-year.
The beat on Core FFO suggests operational efficiency and profitability, which is positive. However, the sales miss indicates potential challenges in revenue generation. The year-over-year growth in both FFO and sales is a positive sign, but the mixed results may lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100