---
schema_version: "secwatch.filing_event.v1"
accession: "0001618563-25-000018"
form_type: "8-K"
ticker: "NSA"
cik: "0001618563"
company_name: "National Storage Affiliates Trust"
filed_at: "2025-08-04T23:59:59+00:00"
generated_at: "2026-05-17T21:28:23.058066+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NSA Q2 core FFO $0.55/share (-11.3% YoY); same-store NOI down 6.1%

## Summary
- Net income $31.0M (-4.1% YoY); diluted EPS $0.19 vs $0.16.
- Core FFO $74.4M ($0.55/share), down 11.3% per share vs Q2 2024.
- Same-store occupancy 85.0% (down 220 bp); total revenue -3.0% YoY.
- Acquired ~$11.4M in wholly-owned properties; agreed to sell ten for ~$66.5M.
- Revised guidance cited soft demand, supply pressure, and concession use.

## SEC filing metadata
- accession: 0001618563-25-000018
- form_type: 8-K
- ticker: NSA
- cik: 0001618563
- company_name: National Storage Affiliates Trust
- filed_at: 2025-08-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618563/000161856325000018/0001618563-25-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618563/000161856325000018/nsa-20250804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001618563-25-000018
- JSON: https://secwatch.observer/filing/0001618563-25-000018.json
- Plain text: https://secwatch.observer/filing/0001618563-25-000018.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.