Extra Space Storage reported second-quarter 2026 results showing net income attributable to common stockholders of $263.5 million, or $1.25 per diluted share, and Core FFO of $2.15 per diluted share. Total revenues for the quarter were $874.2 million and FFO was $2.07 per diluted share. The company paid a quarterly dividend of $1.62 per share and provided 2026 Core FFO guidance of $8.25–$8.40 per share.

Financial Highlights

  • Total revenues (Q2 2026): $874.2 million.
  • Net income attributable to common stockholders (Q2 2026): $263.5 million; diluted EPS $1.25.
  • FFO (Q2 2026): $2.07 per diluted share; Core FFO (Q2 2026): $2.15 per diluted share.
  • Six-month Core FFO (YTD through June 30, 2026): $4.19 per diluted share; six-month FFO: $4.04 per diluted share.
  • Dividend: quarterly common stock dividend of $1.62 per share paid June 30, 2026.

Business Highlights

  • Same-store performance: same-store revenue increased 2.4% and same-store NOI increased 3.5% for the three months ended June 30, 2026; ending same-store occupancy was 94.2%.
  • Acquisitions and platform growth: purchased 17 operating stores and acquired a JV partner’s ownership in one consolidated JV (total cost $90.7 million) in Q2; added 67 stores (48 net) to third‑party management in the quarter, bringing total managed stores to 2,373 (1,964 third-party, 409 unconsolidated JV).
  • Bridge lending and loan activity: originated $140.6 million in mortgage and mezzanine bridge loans in the quarter with outstanding bridge loan balances of approximately $1.5 billion at quarter end and an additional $86.3 million closed/subsequent or under agreement.
  • Investment and development: in the six months ended June 30, 2026 the company completed development of one store (total cost ~$15.1 million; company invested $14.4 million) and closed 18 operating-store acquisitions plus one JV interest buyout during the period (total cost $103.2 million).
  • Balance sheet and liquidity: priced $550 million of 4.90% unsecured senior notes due 2032 on June 24, 2026; commercial paper outstanding $850 million of $1.0 billion capacity; $800 million available under ATM program as of June 30, 2026.

Original SEC Filing:

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