Utah-based Extra Space Storage Inc. (EXR), with a market cap of $35.5 billion, is a prominent REIT in the self-storage industry. It offers a wide range of well-located, secure storage units across the U.S., including boat, RV, and business storage. It is the largest self-storage management company in the U.S. and the second largest owner/operator of self-storage properties. The company is expected to announce its fiscal Q2 earnings results after the market closes on Tuesday, Jul. 30.
Ahead of the event, analysts expect EXR to report an FFO of $2 per share, down 2.9% from $2.06 per share in the year-ago quarter. The company has failed to surpass Wall Street's bottom-line estimates in three of the past four quarters while beating on one occasion. It reported a core FFO of $1.96 in the latest quarter, exceeding the consensus estimate marginally.
