---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-007575"
form_type: "8-K"
ticker: "NSA"
cik: "0001618563"
company_name: "National Storage Affiliates Trust"
filed_at: "2024-02-28T23:59:59+00:00"
generated_at: "2026-06-05T08:54:57.586571+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NSA reports Q4 net income $108.1M; Core FFO per share down 4.2% YoY

## Summary
- Net income $108.1M ($0.72 diluted EPS) vs $50.4M ($0.31) in Q4 2022; Core FFO $83.6M ($0.68/share), down 4.2% per share.
- Same store NOI decreased 1.6% YoY; period-end occupancy 86.0%, down 410 bps from Dec 2022.
- Acquired two wholly-owned self storage properties for ~$25M; issued $8.1M OP equity.
- Issued $250M senior unsecured notes at 6.58% weighted avg rate (5.8yr maturity); repurchased 852,771 shares for $27.4M.
- Entered agreement to sell 71 wholly-owned properties for ~$540M; formed two JVs (75%/25%) with Heitman and state pension fund.

## SEC filing metadata
- accession: 0001628280-24-007575
- form_type: 8-K
- ticker: NSA
- cik: 0001618563
- company_name: National Storage Affiliates Trust
- filed_at: 2024-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618563/000162828024007575/0001628280-24-007575-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618563/000162828024007575/nsa-20240228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-007575
- JSON: https://secwatch.observer/filing/0001628280-24-007575.json
- Plain text: https://secwatch.observer/filing/0001628280-24-007575.txt

## Key facts
- Earnings Releases
  National Storage Affiliates Trust reported the quarter ended December 31, 2023 results: net income $108.1 million, EPS $0.72.
  - Period: the quarter ended December 31, 2023
  - Net income: $108.1 million
  - EPS: $0.72
  - Result: reported results
  source text: Reported net income of $108.1 million for the fourth quarter of 2023, an increase of 114.5% compared to the fourth quarter of 2022. Reported diluted earnings per share of $0.72 for the fourth quarter of 2023 compared to $0.31 for the fourth quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618563/000162828024007575/0001628280-24-007575-index.htm
- Earnings Releases
  National Storage Affiliates Trust reported full year 2023 results: net income $237.0 million, EPS $1.48.
  - Period: full year 2023
  - Net income: $237.0 million
  - EPS: $1.48
  - Result: reported results
  source text: Reported net income of $237.0 million for full year 2023, an increase of 29.0% compared to full year 2022. Reported diluted earnings per share of $1.48 for full year 2023 compared to $0.99 for full year 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618563/000162828024007575/0001628280-24-007575-index.htm

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