secwatch.observer — SEC 8-K summary
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Issuer:     National Storage Affiliates Trust (NSA)
CIK:        0001618563
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001628280-24-019600
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1618563/000162828024019600/0001628280-24-019600-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1618563/000162828024019600/nsa-20240501.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-019600

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer