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Sentiment · FY2026 Q1
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Mike Goldsmith | UBS | 12 | 0% |
| Ron Kamdem | Morgan Stanley | 12 | 17% |
| Eric Wolfe | Citigroup | 11 | 36% |
| Juan Sanabria | BMO Capital Markets | 10 | 0% |
| Mike Griffin | Evercore ISI | 10 | 10% |
| Todd Thomas | KeyBanc Capital Markets | 10 | 10% |
| Brendan Lynch | Barclays | 9 | 0% |
| Caitlin Burrows | Goldman Sachs | 9 | 0% |
| Samir Khanal | Bank of America | 8 | 25% |
| Mike Mueller | JPMorgan | 8 | 0% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| UBS | 1 | 12 | 0% |
| KeyBanc Capital Markets | 2 | 12 | 8% |
| Morgan Stanley | 1 | 12 | 17% |
| Bank of America |
| 2 |
| 11 |
| 27% |
| Citigroup | 1 | 11 | 36% |
| Goldman Sachs | 2 | 10 | 0% |
| Evercore ISI | 1 | 10 | 10% |
| BMO Capital Markets | 1 | 10 | 0% |
Extra Space posted Q1 2026 core FFO of $2.04, up 2%, with same-store revenue growth accelerating to 1.7% and exceeding internal projections. The new customer rate metric was changed to a per-square-foot basis showing Q1 averaging +2.5%, and broad-based revenue improvement was driven by declining new supply. Management maintained FY2026 guidance at $8.05-$8.35 despite the Q1 beat, explicitly waiting for leasing season confirmation, while the third-party management platform reached 1,916 stores.
Pricing | Demand | Revenue Growth | Capital Allocation | Competitive Dynamics | M&A | Cost Pressure | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 10 | 6 | 7 | 4 | 5 | 1 | 5 | 2 |
| 2025Q1 | 6 | 9 | 4 | 9 | 5 | 4 | 1 | 4 |
| 2025Q2 | 8 | 9 | 7 | 6 | 6 | 2 | 2 | |
| 2025Q3 | 10 | 3 | 4 | 5 | 4 | 3 | 2 | |
| 2025Q4 | 7 | 4 | 5 | 3 | 3 | 2 | 3 | 5 |
| 2026Q1 | 8 | 5 | 6 | 5 | 6 | 4 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Pricing | 10 | 6 | 8 | 10 | 7 | 8 |
| Demand | 6 | 9 | 9 | 3 | 4 | 5 |
| Revenue Growth | 7 | 4 | 7 | 4 | 5 | 6 |
| Capital Allocation | 4 | 9 | 6 | 5 | 3 | 5 |
| Competitive Dynamics | 5 | 5 | 6 | 4 | 3 | 6 |
| M&A | 1 | 4 | 2 | 3 | 2 | 4 |
| Cost Pressure | 5 | 1 | 2 | 2 | 3 | 1 |
| Guidance Reliability | 2 | 4 | 5 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
EXR Extra Space Storage | 5 | +1.9% | |
| PLD Prologis | 7 | +7.4% | |
| PSA Public Storage | 5 | +2.9% |