Stock Track | Extra Space Storage Plummets 5.07% Following Mixed Q4 Earnings and Higher Expenses

Stock Track

Feb 27, 2025

Extra Space Storage (EXR) stock plummeted 5.07% during intraday trading on Wednesday, following the release of the company's mixed fourth-quarter 2024 earnings results and higher expenses that weighed on profitability.

While the self-storage operator reported better-than-expected Funds From Operations (FFO) of $1.96 per share and strong net income growth of 21.6% to $1.24 per share, its total revenue of $821.9 million narrowly missed analysts' estimates. Additionally, the company faced headwinds from a 3.5% year-over-year decline in same-store net operating income (NOI) and a 23.1% increase in property tax expenses.

Despite these challenges, Extra Space Storage made progress on several strategic fronts during the quarter, including acquisitions, operational efficiency improvements, and enhancing its financial flexibility. The company acquired 38 new stores for $359.7 million and pursued joint ventures, while also launching an unsecured commercial paper program and increasing its unsecured notes to support future growth plans.

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The company acquired 38 new stores for $359.7 million and pursued joint ventures, while also launching an unsecured commercial paper program and increasing its unsecured notes to support future growth plans.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Extra Space Storage Plummets 5.07% Following Mixed Q4 Earnings and Higher Expenses</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Extra Space Storage Plummets 5.07% Following Mixed Q4 Earnings and Higher Expenses\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2025-02-27 02:16</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Extra Space Storage (EXR) stock plummeted 5.07% during intraday trading on Wednesday, following the release of the company's mixed fourth-quarter 2024 earnings results and higher expenses that weighed on profitability.</p>\n\n<p>While the self-storage operator reported better-than-expected Funds From Operations (FFO) of $1.96 per share and strong net income growth of 21.6% to $1.24 per share, its total revenue of $821.9 million narrowly missed analysts' estimates. Additionally, the company faced headwinds from a 3.5% year-over-year decline in same-store net operating income (NOI) and a 23.1% increase in property tax expenses.</p>\n\n<p>Despite these challenges, Extra Space Storage made progress on several strategic fronts during the quarter, including acquisitions, operational efficiency improvements, and enhancing its financial flexibility. The company acquired 38 new stores for $359.7 million and pursued joint ventures, while also launching an unsecured commercial paper program and increasing its unsecured notes to support future growth plans.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EXR","symbol_name":"Extra Space Storage Inc","start_time":0,"source_url":"","article_id":"1148521839","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1148521839","pubTimestamp":1740593797,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Extra Space Storage  stock plummeted 5.07% during intraday trading on Wednesday, following the release of the company's mixed fourth-quarter 2024 earnings results and higher expenses that weighed on profitability.While the self-storage operator reported better-than-expected Funds From Operations  of $1.96 per share and strong net income growth of 21.6% to $1.24 per share, its total revenue of $821.9 million narrowly missed analysts' estimates. Additionally, the company faced headwinds from a 3.5","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"EXR":"Extra Space Storage Inc"},"translate_title":"由于第四季度盈利好坏参半和费用增加，Extra Space Storage股价暴跌5.07%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EXR":1},"content_text":"Extra Space Storage (EXR) stock plummeted 5.07% during intraday trading on Wednesday, following the release of the company's mixed fourth-quarter 2024 earnings results and higher expenses that weighed on profitability.\nWhile the self-storage operator reported better-than-expected Funds From Operations (FFO) of $1.96 per share and strong net income growth of 21.6% to $1.24 per share, its total revenue of $821.9 million narrowly missed analysts' estimates. 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