NSA Q1 net income up 62%, Core FFO per share +39%; raises 2022 same-store NOI and FFO guidance

National Storage Affiliates Trust

2022-Q1 EPS reported $0.24 revenue$187,184,000

Net income $44.8M ($0.24 diluted EPS) vs $27.6M ($0.19) in Q1 2021; Core FFO $0.68/share, +38.8% per share.
Same-store NOI grew 22.2% on 16.6% revenue growth; period-end occupancy 94.8% (+140 bps).
Acquired 12 wholly-owned properties for $92.9M; issued $125M senior notes at 2.96% due 2033.
PRO Northwest retired; management internalized; Kroll upgraded operating partnership to BBB+.
Unconsolidated venture acquired 7 properties for ~$208M post-quarter (NSA contributed ~$52M).

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