Extra Space Storage Inc. Profit Drops In Q4, but beats estimates

(RTTNews) - Extra Space Storage Inc. (EXR) revealed earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $204.26 million, or $1.52 per share. This compares with $268.43 million, or $2.00 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $1.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.6% to $506.72 million from $427.38 million last year.

Extra Space Storage Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $204.26 Mln. vs. $268.43 Mln. last year. -EPS (Q4): $1.52 vs. $2.00 last year. -Analyst Estimates: $1.46 -Revenue (Q4): $506.72 Mln vs. $427.38 Mln last year.