Extra Space Storage (EXR) Q1 Earnings: What's in Store?

Extra Space Storage Inc. EXRis slated to report first-quarter 2018 results on May 1, after the market closes. Both its revenues and funds from operations (FFO) are expected to register year-over-year growth.

In the last reported quarter, this Salt Lake City, UT-based self-storage real estate investment trust (REIT) delivered a positive surprise of 3.

7%, in terms of FFO per share. Results reflected growth in property-rental revenues and improvement in same-store net operating income (NOI). Higher occupancy and rental rates also supported growth.

The company has a decent surprise history. In fact, it exceeded the Zacks Consensus Estimate in each of the trailing four quarters, with an average beat of 3.8%. This is depicted in the graph below: