Extra Space Storage reports Q3 core FFO $2.07, consensus $2.03

Reports Q revenue $, consensus $757.26M. Reports Q3 Same-store revenue decreased (0.3%) and same-store net operating income decreased by (1.0%) vs. last year. Joe Margolis, CEO of Extra Space Storage (EXR), commented: “We continue to maintain strong occupancy during a time of year which is typically marked by occupancy declines. This occupancy both optimizes performance in the current market and positions the portfolio for future revenue growth. Our third-party management, bridge loan and insurance businesses continue to outperform projections, and together with incremental G&A savings, produced core FFO per share growth modestly ahead of our projections.”