earnings
confidence high
sentiment negative
materiality 0.80
NSA Q3 net income $29.8M (-30.9% YoY); Core FFO $0.62 (-7.5%); same-store NOI -5.3%
National Storage Affiliates Trust
2024-Q3 EPS reported
$1.03
revenue$580,217,000
- Net income $29.8M, diluted EPS $0.18 (vs $0.26); Core FFO $83.9M, $0.62/share.
- Same-store NOI fell 5.3% YoY, revenue -3.5%, expenses +1.2%; occupancy 85.6% (-270 bps).
- Issued $350M senior unsecured notes at 5.6% avg rate, 7.6yr maturity in private placement.
- Unconsolidated venture bought 18 properties for ~$147.9M; NSA contributed ~$37M.
- Completed PRO internalization July 1, 2024; converted 11.9M subordinated units to 17.98M OP units.