Extra Space Storage Inc

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, VP of Investor Relations. Jared, please go ahead.

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 29, 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.

Thank you, Jared, and thank you everyone for joining today's call. In addition to our CFO, 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 operating environment. Our same store revenue grew by 2.4% in the second quarter, exceeding our internal projections and accelerating from the first quarter. Occupancy ended the quarter at 94.2% as our systems effectively balanced rate and occupancy to optimize revenue across the portfolio. The pricing power we have been building over the past several quarters is now clearly flowing through our results. And with same store expenses declining modestly year over year, same store NOI also accelerated, demonstrating the leverage in our operating model. We are seeing broad-based improvement across many of our markets, supported by steady customer demand, Thank you for joining us today. are now embedded in our revenue base and we're encouraged by the momentum heading into the second half of the year. Our company, built around operational depth, cutting edge technology, financial flexibility, and diversified growth channels, is well positioned to continue to outperform the industry. With that, I'll turn it over to our president, Noah Springer, to discuss our external growth initiatives.