earnings
confidence high
sentiment negative
materiality 0.75
NSA Q2 net income down 29%; Core FFO per share falls 8.8% YoY
National Storage Affiliates Trust
2024-Q2 EPS reported
$0.85
revenue$386,596,000
- Net income $32.3M, down 29% YoY; diluted EPS $0.16 vs $0.28.
- Core FFO $71.2M ($0.62/share), down 8.8% per share YoY.
- Same store NOI fell 5.6%; revenue -2.8%, expenses +4.8%; occupancy 87.0% (-280 bps).
- Completed internalization of PRO structure on July 1; repaid $145M Term Loan B on July 29.
- Joint venture acquired 5 properties for ~$71.9M; NSA contributed $18M.