REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-07-31 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Q2 revenue reached $874.2M (+3.9% YoY) driven by property rental growth of $25.2M and tenant reinsurance revenue of $93.1M (+5.1% YoY).
Biggest Revenue Drivers
Property rental$746.2M+3.5% YoY
Growth from acquisitions of 18 stores in H1 2026 and 76 in FY2025, partially offset by dispositions; improved by increases in average annual rent per occupied square foot.
Tenant reinsurance$93.1M+5.1% YoY
Increase due primarily to higher number of stores operated; company operated 4,410 stores at June 30, 2026 vs. 4,179 at June 30, 2025.
Biggest Revenue Drivers
Total revenue: $874.2M+3.9% YoY
Property rental$746.2M+3.5% YoY
Growth from acquisitions of 18 stores in H1 2026 and 76 in FY2025, partially offset by dispositions; improved by increases in average annual rent per occupied square foot.
Tenant reinsurance$93.1M+5.1% YoY
Increase due primarily to higher number of stores operated; company operated 4,410 stores at June 30, 2026 vs. 4,179 at June 30, 2025.
Management fees and other income$34.9M+8.9% YoY
Increase from higher number of managed stores (1,964 vs. 1,749 prior year) and increased revenue of stores under management.
Largest Expense Items
Property operations$231.7M+1.8% YoY
Growth from acquisitions partially offset by expense control across portfolio; property taxes and insurance increased.
Depreciation and amortization$185.6M+4.7% YoY
Increase primarily from acquisition of 18 wholly-owned stores in H1 2026 and 76 stores in FY2025.
General and administrative$47.3M+5.3% YoY
Includes corporate payroll, office expense, office rent, travel and professional fees.
Tenant reinsurance$17.3M+2.2% YoY
Costs incurred to provide tenant reinsurance; subject to volatility from claims.
Watch Items from the Filing
Fixed-rate debt comprises 78.5% of total debt; variable-rate debt exposure of ~$3.0B means 100 bps SOFR increase would raise annual interest expense by ~$29.8M.
Same-store occupancy declined from 94.4% (Q2 2025) to 94.2% (Q2 2026); average annual rent per occupied square foot grew 2.3% to $19.95, indicating pricing power offset slight occupancy pressure.
Bridge loan portfolio decreased to $1.45B (June 2026) from $1.54B (June 2025), reducing interest income; company sold $30.5M of mortgage receivables in H1 2026.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Crittenden Gary LDirectorGrant or award · May 14, 2026
Barberio Mark GDirectorGrant or award · May 14, 2026
Saffire JosephDirectorGrant or award · May 14, 2026
Vander Ploeg JuliaDirectorGrant or award · May 14, 2026
Bonner Joseph JDirectorGrant or award · May 14, 2026
Congress trading in EXR
9 transactions in EXR reported by 5 members of Congress under the STOCK Act, most recent trade Feb 12, 2026. Reported transactions, not recommendations.
About Extra Space Storage Inc. (EXR): stock profile, AI score and financials
Extra Space Storage Inc. (EXR) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores EXR at 66.7/100 on a composite quality score built from its SEC filings, placing it at rank #24 of 148 stocks — the top 25% of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), Extra Space Storage Inc. reports quarterly revenue of $874.2M, net income of $263.5M, an operating margin of 44.9%. Top institutional holders of EXR by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. EXR trades on the NYSE exchange and files with the SEC under CIK 1289490. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate EXR daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Extra Space Storage Inc. directly from SEC EDGAR.