Occupancy and store performance - Co said Core FFO growth was driven by strong occupancy and improving store performance
Expense control - Co attributed results to smart expense control in the quarter
Ancillary business contribution - Third-party management and bridge lending businesses made meaningful contributions to results
Analyst coverage and valuation
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 8 "strong buy" or "buy", 12 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the specialized REITs peer group is "buy"
Wall Street's median 12-month price target for Extra Space Storage Inc (Maryland) is $155.50, about 4.9% above its July 27 closing price of $148.29
The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 28 three months ago
Q2 results and operating trends
US self-storage REIT's Q2 net income per share rose 5.9% yr/yr
Core FFO per share for Q2 increased 4.9% yr/yr
Same-store revenue rose 2.4% and same-store NOI grew 3.5% in Q2
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