Extra Space Storage Reports Q4 Income Growth and Revenue Rise

Extra Space Storage Inc. shows promising performance with Q4 net income of $262.5M, earnings per share increasing to $1.24. The positive trend in revenue and funds from operations suggests potential for stock price growth.

Date: 26-02-2025

AI Rating: 7

Net Income and Earnings Per Share: Extra Space Storage Inc. reported a robust fourth-quarter net income of $262.5 million, translating to earnings per share (EPS) of $1.24. This is a significant rise from the previous year’s net income of $216.1 million or $1.02 EPS, indicating strong financial health and operational efficiency.

Funds From Operations and Core FFO: The company reported funds from operations (FFO) amounting to $433.3 million, equating to $1.96 per share, slightly up from $418.6 million or $1.89 per share in the prior year. Core FFO was also stable, at $450.2 million or $2.03 per share, compared to $449.1 million or $2.02 per share last year. These numbers suggest stability in cash flow generation, which is vital for real estate investment trusts (REITs) like Extra Space Storage.

Revenue Growth: Revenue for the quarter reached $821.9 million, an increase from $797.8 million year-over-year. This growth is a positive indicator of the company’s business expansion and market demand for storage solutions.

Looking ahead, the company projects Core FFO per share between $8.00 and $8.30 for the full year 2025, reflecting confidence in its operational performance and potential revenue generation. Such forecasts tend to positively influence investor sentiment and may result in upward pressure on stock prices.

Stocks: EXR