Extra Space Storage Inc (EXR) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us and welcome to Extra Space Storage Inc. Q1 2026 earnings call. After today's prepared marks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Jared Conley, Vice President of Investor Relations. Please go ahead. Thank you, Karen. Welcome to Extra Space Storage's first quarter 2026 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 risks 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 29, 2026. The company assumes no obligation to revise or update any forward-looking statements because of changing market conditions or other circumstances after the date of this conference call. I would like to now turn the time over to Joe Margolis, Chief Executive Officer. Thanks, Jared, and thank you everyone for joining today's call. We are pleased to report first quarter core FFO of $2.04 per share, up 2% year over year. Our solid performance demonstrates the strength and resilience of our diversified portfolio and best-in-class platform as we navigate an improvin...