---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-019600"
form_type: "8-K"
ticker: "NSA"
cik: "0001618563"
company_name: "National Storage Affiliates Trust"
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T02:52:56.695853+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NSA Q1 net income up 135% to $95.1M but core FFO down 9.1% per share

## Summary
- Net income $95.1M, diluted EPS $0.65, up 135% YoY.
- Core FFO per share $0.60, down 9.1% YoY; same-store NOI fell 3.7%.
- Period-end occupancy 85.9%, down 350 bps YoY; revenue down 1.5%, expenses up 4.5%.
- Repurchased 5.49M shares for ~$203.5M in Q1; additional 1.91M shares for ~$71.6M post-quarter.
- Completed sale of 71 wholly-owned properties for ~$540M; contributed 56 properties to new JV with Heitman (25% NSA stake).

## SEC filing metadata
- accession: 0001628280-24-019600
- form_type: 8-K
- ticker: NSA
- cik: 0001618563
- company_name: National Storage Affiliates Trust
- filed_at: 2024-05-01T23:59:59+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/1618563/000162828024019600/0001628280-24-019600-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618563/000162828024019600/nsa-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-019600
- JSON: https://secwatch.observer/filing/0001628280-24-019600.json
- Plain text: https://secwatch.observer/filing/0001628280-24-019600.txt

## Key facts
- Earnings Releases
  National Storage Affiliates Trust reported the quarter ended March 31, 2024 results: net income $95.1 million, EPS $0.65.
  - Period: the quarter ended March 31, 2024
  - Net income: $95.1 million
  - EPS: $0.65
  - Result: reported results
  source text: National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA) today reported the Company’s first quarter 2024 results.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618563/000162828024019600/0001628280-24-019600-index.htm

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