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Extra Space Storage (DE:FG8)
FRANKFURT:FG8
Earnings Data
Report Date
May 06, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.95Last Year’s EPS
0.92Same Quarter Last Year
Based on 12 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 25, 2025
|% Change Since: -12.80%
|Next Earnings Date:May 06, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong occupancy levels, strategic growth in third-party management, and successful investment activities. However, it also noted declines in same-store revenue and NOI due to increased property taxes and external challenges like the LA wildfires. While the company is optimistic about its strategic repositioning and ancillary revenue growth, cost pressures and market uncertainties persist.Company Guidance
During the Extra Space Storage Q4 2024 earnings call, several key metrics and guidance were highlighted. Core FFO for the quarter was reported at $2.03 per share, with full-year core FFO at $8.12 per share. The company maintained near-record occupancy levels and narrowed the year-over-year rate gap to new customers from negative 9% in Q3 to negative 6% by year-end. Same-store revenue saw a slight decrease of 0.4%, while same-store NOI decreased by 3.5% due to higher-than-expected property taxes. In terms of external growth, Extra Space Storage invested $950 million in various ventures, including $610 million in Q4 alone, and originated $224 million in bridge loans, totaling $980 million for the year. The third-party management program added 114 net new stores in Q4, reaching a total of 238 net new managed stores for the year. The company's 2025 guidance projects same-store revenue growth between negative 0.75% and positive 1.25%, with expense growth between 3.75% and 5.25%, resulting in an NOI range of negative 3% to positive 0.25%. Core FFO for 2025 is expected to range from $8.00 to $8.30 per share, implying a growth rate of up to 2% at the top end.Steady Occupancy and Improved New Customer Rates
Near-record occupancy levels were maintained, and the rate gap to new customers improved from negative 9% in Q3 to negative 6% by year-end 2024.
Growth in Third-Party Management Program
The third-party management program grew by 114 net new stores in Q4, with a total of 238 net new managed stores for the year, marking the best year for third-party growth excluding Life Storage merger gains.
Strategic Investments and Capital Allocation
Invested $950 million in joint ventures and other investments, with $610 million in Q4 alone. Bridge loan origination totaled $980 million for the year.
Rebranding to Extra Space
Concluded dual-brand test, resulting in marketing savings and increased rental activity, with former Life Storage stores expected to outperform legacy Extra Space properties in 2025.
Strong Financial Position
Completed $300 million and $350 million bond reopenings, initiated a $1 billion commercial paper program, enabling lower borrowing costs.
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DE:FG8 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DE:FG8 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 25, 2025 | €151.14 | €144.51 | -4.38% |
| Oct 29, 2024 | €147.97 | €146.90 | -0.73% |
| Jul 30, 2024 | €145.75 | €142.41 | -2.30% |
| Apr 30, 2024 | €120.93 | €124.53 | +2.98% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Extra Space Storage (DE:FG8) report earnings?
Extra Space Storage (DE:FG8) is schdueled to report earning on May 06, 2025, TBA Not Confirmed.
What is Extra Space Storage (DE:FG8) earnings time?
Extra Space Storage (DE:FG8) earnings time is at May 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Extra Space Storage stock?
The P/E ratio of Extra Space Storage is N/A.
What is DE:FG8 EPS forecast?
DE:FG8 EPS forecast for the fiscal quarter 2025 (Q1) is 0.95.
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