Extra Space Storage (EXR) Q1 FFO Tops Estimates, Occupancy Rises

Extra Space Storage Inc. (EXR) reported first-quarter 2024 core funds from operations (FFO) per share of $1.96, which beat the Zacks Consensus Estimate by a penny. However, the figure declined 3% from the prior-year quarter.The results reflect a rise in occupancy and better-than-anticipated revenues. However, higher same-store operating expenses and increased interest expenses during the quarter were a spoilsport.Quarterly revenues of$ 799.5 million beat the Zacks Consensus Estimate of $786.5 million. The t ...