Feb 25 (Reuters) - Extra Space Storage EXR.N forecast on Tuesday its annual funds from operations (FFO) below Wall Street expectations, as the company grapples with a challenging macro environment amid high interest rates.
Shares of the company fell about 1% in extended trading.
The Salt Lake City, Utah-based real estate investment trust posted quarterly core FFO of $2.03 per share, compared with analysts' estimates of $2.05 per share, according to data compiled by LSEG.
The company expects its core FFO for 2025 to be in the range of $8.00 to $8.30 per share, below analysts' estimates of $8.39 per share.
Total revenue for the fourth quarter ended December 31 was $821.9 million, compared to the $797.8 million it posted a year ago.
(Reporting by Abhinav Parmar and Utkarsh Shetti in Bengaluru; Editing by Mohammed Safi Shamsi)
((UtkarshUmesh.Shetti@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.