Peter Feyto's questions to Extra Space Storage (EXR) leadership • Q2 2025
Question
Peter Feyto, on for Nicholas Yulico, asked about the rent spread between LSI and legacy EXR assets excluding the planned dispositions. He also inquired about the macro assumptions in the guidance and catalysts for performance.
Answer
CEO Joseph Margolis said he had not performed that specific analysis. EVP & CFO Jeff Norman confirmed the overall rent spread remains around 5-6%. Norman stated that hitting the high end of guidance would require stronger new customer rates, while the low end could result from a larger-than-normal seasonal drop in occupancy.