Extra Space Storage Inc (EXR) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call, you require immediate assistance, please press star zero for the operator. These calls may be recorded on Wednesday, April 30, 2025. I would now like to turn the conference over to Jared Conde. Please go ahead. Thank you, John, and welcome to Extra Space Storage's first quarter 2025 earnings call. In addition to our press release, we have furnished unaudited supplemental financial information on our website. Please remember that management's prepared remarks and answers to your questions may contain forward-looking statements as defined in the Private Securities Litigation Reform Act. Actual results could differ materially from those stated or implied by our forward-looking statements due to risk and uncertainties associated with the company's business. These forward-looking statements are qualified by the cautionary statements contained in the company's latest filings with the SEC, which we encourage our listeners to review. Forward-looking statements represent management's estimates as of today, April 30th, 2025. The company assumes no obligation to revise or update any forward-looking statements because of the changing market conditions or other circumstances after the date of this conference call. I would now like to turn the call over to Joe Margolis, Chief Executive Officer. Thank you for joining us today. I am pleased to report a solid first quarter with performance exceeding our internal projections across several key metrics. Our core FFO of $2 per share represents a 2% increase year over year. Same store occupancy remained at historically high levels ending the quarter at 93.4%. This ...