Extra Space Storage: Q2 Earnings Snapshot
By AP News
Published - Jul 31, 2024, 03:26 AM ET
Last Updated - Jul 31, 2024, 03:26 AM EDT
SALT LAKE CITY (AP) — SALT LAKE CITY (AP) — Extra Space Storage Inc. (EXR) on Tuesday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Salt Lake City, said it had funds from operations of $457.7 million, or $2.06 per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $2 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
