- Q4 adjusted FFO of $115.1M or $0.87 per share vs. $84.2M and $0.68 one year ago. Full-year AFFO per share of $3.13 vs. $2.61 in 2014.
- Q4 same-store (503 stores) revenue up 9.6% Y/Y; expenses up 4.8%; NOI up 11.5%.
- Occupancy up 150 bps to 92.9%.
- Full-year 2016 AFFO guidance of $3.65-$3.73 per share vs. $3.13 in 2015. Assumes same-property NOI growth of 7.5-9.0%.
- Conference call tomorrow at 1 ET
- Previously: Extra Space Storage beats by $0.11, beats on revenue (Feb. 23)
- EXR flat after hours
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We have found it to be a valuable tool to verify what wholesalers tell us and to dig deep into how the reported investments are really performing.
We appreciate that Blue Vault has expanded its services from initially covering REIT's to now also including BDC's.
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