What is the revenue and EPS growth rate for Extra Space Storage year over year?

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What were the key takeaways from Extra Space Storage's earnings call?

What is Extra Space Storage's latest dividend and current dividend yield?

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What were the key takeaways from Extra Space Storage’s earnings call?

- **Rate Growth Accelerating**: New customer rates +3% YoY net of discounts, +5% in October. Same-store revenue expected flat for 2025 but set to accelerate in 2026.
- **Acquisition Momentum**: $244M portfolio acquisition to boost yields; full-year acquisitions raised to $900M. Bridge Loan Program originations $123M Q3.
- **Financial Strength**: Core FFO guidance raised to $8.12-$8.20; balance sheet 95% fixed-rate debt. Property taxes normalized at 1.6% YoY.
- **Strategic Investments**: $7M incremental marketing spend; 95 new third-party management stores. 1,811 total managed properties.

**【CEO Summary Section】**
- **Core FFO**: $2.08 per share, meeting internal expectations. Same-store occupancy averaged 94.1% (up 30 bps YoY) with new customer rate growth of 3% YoY net of discounts.
- **Strategic Acquisitions**: $244M Utah/AZ/NV portfolio acquisition (closing Q4) to boost long-term yields, offsetting 25 asset dispositions. Full-year acquisition guidance raised to $900M.
- **Growth Channels**: Bridge Loan Program originated $123M Q3; third-party management expanded by 95 stores (total 1,811). 
- **Revenue Outlook**: Full-year Core FFO guidance raised to $8.12-$8.20; same-store revenue expected flat for 2025 but accelerating in 2026.

**【CFO Financial Commentary】**
- **Core Metrics**: Q3 Core FFO $2.08, GAAP net income $420M. Same-store revenue -0.2% YoY (below forecast) due to discounts, but other income (tenant insurance, fees) outperformed.
- **Expense Management**: Property taxes +1.6% YoY (normalized after prior quarters' spikes). Marketing spend (+$7M YoY) viewed as long-term revenue driver. Full-year expense guidance raised to 4.5%-5%.
- **Balance Sheet**: $1B credit facility recast with 10bps rate reduction; $800M 5% bond issuance completes 10-year maturity ladder. 95% debt fixed-rate.
- **Guidance Update**: Full-year Core FFO $8.12-$8.20 (vs. prior $8.05-$8.15). Same-store revenue -25bps to +25bps YoY (vs. prior -50bps to +50bps).

Extra Space Storage Inc. (EXR) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

EXR

EXR fundamentals

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