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Earnings Releases·

Extra Space Storage Inc. — Third Quarter 2026 Earnings Summary

  • Net income per diluted share rose 50.0% year-over-year to $1.17 for Q3 2026, while Core FFO per share increased 4.3% to $2.17; same-store NOI grew 4.6% and occupancy reached 94.0%.
  • The Company raised full-year 2026 Core FFO guidance to $8.40–$8.50 per share and increased acquisition guidance to $400.0 million, citing accelerating same-store performance.
  • Management announced a leadership transition with Noah Springer set to become CEO on January 1, 2027, as Joe Margolis retires at year-end.
  • Capital allocation included $327.1 million in share repurchases during Q3 and a new $500.0 million buyback authorization, alongside a $550.0 million bond offering completed in July 2026.
Company
EXTRA SPACE STORAGE INC
Sector
Real Estate
Industry
REIT - Industrial