You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: Before I turn to the results, I want to take a moment and congratulate the entire Extra Space team.
One of our goals for this year was to get to 2021 stores in the year 2021.
And we've achieved that, which is a great thing.
When I first started with Extra Space, we had 12 stores and it's incredible to see the exceptional growth of this company, the value we've created for our shareholders.
I'm also happy to announce that we recently published our 2020 sustainability report with disclosures and information related to the company's environmental, social and governance initiatives.
I invite our listeners to review the report on the Sustainability page of our Investor Relations website.
Heading into this quarter -- I'm sorry, heading into the second quarter, our management team had high expectations due to our record high occupancy levels, significant pricing power and a relatively easy 2020 comparable, and actual performance far exceeded these elevated expectations.
Same-store occupancy set another new high watermark at the end of June at 97%, which is incredible, as you consider the diversification of our national portfolio.
The elevated occupancy led to exceptional pricing power with achieved rates to new customers in the quarter over 60% higher than 2020 levels.
While this is inflated by an artificially low prior year comp, achieve rates were over 30% greater than 2019 levels and accelerated through the quarter.
In addition to the benefit from new customer rates, we have continued to bring existing customers closer to current street rates as more of the state of emergency rate restrictions are lifted throughout the country.
Other income is no longer a drag on revenue due to late fees improving year-over-year and actually contributed 20 basis points to revenue growth in the quarter.
And finally, higher discounts, primarily due to higher rates were offset by lower bad debt.
These drivers produced same-store revenue growth of 13.6%, a 900 basis point acceleration from Q1, and same-store NOI growth of 20.2%, an acceleration of over 1,300 basis points.
In addition, our external growth initiatives produced steady returns outside of the same-store pool, resulting in FFO growth of 33.3%.
Turning to external growth.
The acquisition market continues to be, in our view, expensive.
Given the pricing we are seeing in the market, we have listed an additional 17 stores for outright disposition, which we expect to close during the back half of 2021.
We continue to be actively engaged in acquisitions, but we remain disciplined.
Year-to-date, we have been able to close or put under contract acquisitions totaling $400 million of Extra Space investment.
These are primarily lease-up properties and several of the properties came from our Bridge Loan Program.
We have increased our 2021 acquisition guidance to $500 million in Extra Space investments.
Looking forward, many of our acquisitions will be completed in joint ventures, and we have plenty of capital to invest if we find additional opportunities that create long-term value for our shareholders.
We were active on the third-party management front, adding 39 stores in the quarter and a total of 100 stores through the first six months.
Our growth was partially offset by dispositions where owners sold their properties.
In the quarter, we purchased 11 of these stores in the REIT or in one of our joint ventures.
Our first half outperformance coupled with steady external growth and the improved outlook for the second half of 2021 allowed us to increase our annual FFO guidance by $0.50 or 8.3% at the midpoint.
While we still assume a seasonal occupancy moderation of approximately 300 basis points from this summer's peak to the winter trough, the moderation will begin from a higher starting point than we previously expected.
As a result, we assume minimal impact on revenue growth from the negative occupancy delta in the back half of the year.
Our guidance assumes moderating but still strong rate growth for the duration of 2021, which should result in another great year for Extra Space Storage.
I would now like to turn the time over to Scott.
As Joe mentioned, we had an excellent quarter with accelerating same-store revenue growth driven by all-time high occupancy and strong rental rate growth to new and existing customers.
Core FFO for the quarter was $1.64 per share, a year-over-year increase of 33.3%.
Property performance was the primary driver of the beat with additional contribution coming from growth in tenant insurance income and management fees.
Despite property tax increases of 6%, we delivered a reduction in same-store expenses in the quarter.
These increases were offset primarily by 13% savings in payroll and 31% savings in marketing.
Our guidance assumes payroll savings will continue throughout the year, however, at lower levels due to wage pressure across the U.S. Marketing spend will depend on our use of this lever to drive top line revenue, but it should also remain down for the year.
In May, we completed our inaugural investment-grade public bond offering, issuing $450 million in 10-year bonds at 2.55%.
Access to the investment-grade bond market provides another deep capital source at low rates and will allow us to further extend our average maturities.
Our year-to-date dispositions, equity issuances and NOI have resulted in a reduction in our leverage.
Our quarter end net debt-to-EBITDA was 4.8 times, giving us significant dry powder for investment opportunities since we generally target a range of 5.5 to 6 times on this metric.
Last night, we revised our 2021 guidance and annual assumptions.
We raised our same-store revenue range to 10% to 11%.
Same-store expense growth was reduced to 0% to 1%, resulting in same-store NOI growth of 13.5% to 15.5%, a 750 basis point increase at the midpoint.
These improvements in our same-store expectations are due to better-than-expected achieved rates, higher occupancy and lower payroll and marketing expense.
We raised our full year core FFO range to be $6.45 to $6.60 per share, a $0.50 or 8.3% increase at the midpoint.
Due to stronger lease-up performance, we dropped our anticipated dilution from value-add acquisitions and C of O stores from $0.14 to $0.12.
We're excited by our strong performance year-to-date and the success of our customer acquisition, revenue management, operational and growth strategies across our highly diversified portfolio.

user
compname reports q2 ffo per share $1.64.
q2 ffo per share $1.64 excluding items.
qtrly ffo attributable to common stockholders and unit holders of $1.64 per share.
qtrly core ffo $1.64 per share.
sees 2021 ffo and core ffo of $6.45-$6.60.

assistant