EXR · 10-Q · 2026Q3 · Full report
Net Income and Profitability
Extra Space Storage Inc. · 2026-10-30 · Importance 58 · Surprise 56 · In source text
Net income for the third quarter of 2026 was $259.4 million, compared with $174.0 million in the prior-year quarter, an increase of approximately 49%. Net income attributable to common stockholders rose to $247.8 million from $166.0 million, while nine-month net income attributable to common stockholders increased to $752.2 million from $686.6 million. The year-over-year comparison included a $5.8 million net loss on real estate assets held for sale and sold in the 2026 quarter, versus a $105.1 million loss in the 2025 quarter. Funds from operations attributable to common stockholders and unit holders increased 5.2% to $468.2 million for the quarter and 3.6% to $1.360 billion for the first nine months.
Key facts
- Extra Space Storage recognized a net loss of $5.821 million in the three and nine months ended September 30, 2026, from one store classified as held for sale and one previously held-for-sale store sold. source
- For the three months ended September 30, 2026, property operations expense was $238.837 million, up 1.4%; tenant reinsurance expense was $17.927 million; general and administrative expense was $45.740 million, up 5.2%; depreciation and amortization was $189.598 million, up 6.8%; and total expenses were $492.102 million, up 3.8%. source
- For the nine months ended September 30, 2026, property operations expense was $708.858 million, up 3.2%; tenant reinsurance expense was $53.119 million, up 2.5%; general and administrative expense was $139.564 million, up 3.8%; depreciation and amortization was $561.003 million, up 4.8%; and total expenses were $1,462.544 million, up 3.9%. source
- Extra Space Storage net income attributable to common stockholders was $247.759 million for the three months and $752.207 million for the nine months ended September 30, 2026; FFO attributable to common stockholders and unit holders was $468.182 million and $1,359.925 million, respectively. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -156.9% | For the nine months ended September 30, 2026, property operations expense was $708.858 million, up 3.2%; tenant reinsurance expense was… |
| net_income | negative | realized | -16.8% | Extra Space Storage recognized a net loss of $5.821 million in the three and nine months ended September 30, 2026, from one store… |