July 30 (Reuters) - Extra Space Storage ( EXR ) beat

Wall Street expectations for second-quarter funds from

operations (FFO) on Tuesday, benefiting from strong occupancy

levels at its properties.

The Salt Lake City, Utah-based real estate investment trust

(REIT) posted a quarterly core FFO of $2.06 per share, compared

with analysts' estimates of $2 per share, according to LSEG

data.

Extra Space has been shielded from an industry-wide fall in

occupancy rates after the pandemic, as its exposure across the

U.S. smoothened regional volatility in demand.

The same-store occupancy rate in the quarter for the REIT

came in at 94.3%, compared with 94% last year.

"We've maintained strong occupancy levels in the ...

same-store pools despite a challenging demand and new customer

rate environment," CEO Joe Margolis said in a statement.

The REIT also slightly raised the lower end of its FFO

forecast for 2024 and expects it in a range of $7.95 to $8.15

per share, compared with $7.85 to $8.15 per share expected

previously.

Total revenue for the quarter ended June 30 was $810.7

million, up 58.5% from a year earlier. Analysts, on average,

were expecting revenue of $728.8 million in the quarter