$142.910
+0.114 (+0.08%)收盘时
EXR 资讯
EXR 事件
BMO Capital Reiterates Extra Space Storage Price Target at $160
BMO Capital reiterated a Market Perform rating and $160 price target on Extra Space Storage after Joe Margolis announced he will step down as CEO at year-end. Margolis, who will be succeeded by president Noah Springer, is well-respected by Wall Street, having led the company through a period of significant growth, the analyst tells investors in a research note. The move wasn't a huge surprise, the author adds, noting that no change in strategy is expected. The firm sees Extra Space as well-positioned for a continued reacceleration in growth.
Extra Space Storage Appoints Noah Springer as New CEO
Extra Space Storage announced that Noah Springer, president, will become the company's next chief executive officer, effective January 1, 2027. Current CEO Joe Margolis, will retire at the end of the year and serve as an adviser to Extra Space Storage's board of directors. The transition, unanimously approved by the board, follows a succession planning process. Margolis will continue to serve as CEO through December 31, continuing to work closely with Springer and the board to ensure a leadership transition. Springer joined Extra Space in 2006 and became chief strategy and partnership officer in 2020.
FY26 FFO Expected at $8.26, NOI Growth Outlook Raised to 0.50%-2.50%
Consensus is for FY26 FFO $8.26. Raises FY26 Same-store NOI growth view to 0.50%-2.50% from (2.25%)-1.25%.
Company Reports Q2 Revenue of $874.15M, Beating Expectations
Reports Q2 revenue $874.15M, consensus $739.13M. Reports Q2 Same-store revenue up 2.4% and same-store expense down 0.5%, resulting in a same-store NOI increase of 3.5% compared to the same period in the prior year. Joe Margolis, CEO of the Company, stated: "Our operating systems and platform continue to optimize performance as we get deeper into the storage sector's recovery. Core FFO growth of 4.9% for the quarter was driven by strong occupancy, improving store performance, and smart expense control - with meaningful contributions from our ancillary businesses, including third-party management and bridge lending. We are never satisfied with, and always seek to improve, our technology, systems, process, and people, and it is gratifying to see that commitment reflected in our results."
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