Extra Space Storage Posts Higher 2Q Profit on Historic Occupancy -- Update

Extra Space Storage posted higher second-quarter earnings as the company said it reached historic levels of occupancy.

Extra Space Storage posted $841.6 million in revenue, up from $810.7 million the year prior. Analysts were expecting revenue of $847.5 million, according to analysts surveyed by FactSet.

Occupancy reached 94.6%, up from 94% the prior year. Wall Street expected 94.3%. Same-store revenue was flat year-over year.

The company guided for core full-year funds from operations, or FFO, of $8.05 to $8.25, narrowing previously issued guidance of $8.00 to $8.30...

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RSK: They gave no reason for the increase but I speculate that there are a lot of products being manufactured and stored before the tariffs go into effect.