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Grow with us. Founded in 1977. It has 4,462 employees. IPO 2004.

Transcript

Operator

Hello, everyone. Thank you for joining us, and welcome to the Extra Space Storage Inc. Q2 2026 Earnings Conference Call. After today's prepared remarks, I will host a question-and-answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Jared Conley, Vice President of Investor Relations. Jared, please go ahead.

Jared Conley — VP of Investor Relations

Thank you, Connor. Welcome to Extra Space Storage's second quarter 2026 earnings call. In addition to our press release, we have furnished unaudited supplemental financial information on our website. Please remember that management's prepared remarks and answers to your questions may contain forward-looking statements as defined in the Private Securities Litigation Reform Act. Actual results could differ materially from those stated or implied by our forward-looking statements due to risks and uncertainties associated with the company's business. These forward-looking statements are qualified by the cautionary statements contained in the company's latest filing with the SEC, which we encourage our listeners to review. Forward-looking statements represent management's estimates as of today, July 29th, 2026. The company assumes no obligation to revise or update any forward-looking statements because of changing market conditions or other circumstances after the date of this conference call. I would like to now turn the call over to Joe Margolis, Chief Executive Officer.

Joseph Margolis — CEO

Thank you, Jared, and thank you everyone for joining today's call. In addition to our Chief Financial Officer, Jeff Norman, I am joined today by our President, Noah Springer. I am pleased to report a strong second quarter for Extra Space Storage. We delivered core FFO per share of $2.15, representing a 4.9% year-over-year growth, a result that reflects both the quality of our platform and the improving