earnings
confidence high
sentiment negative
materiality 0.75
NSA Q3 net income down 2.5% to $29M; Core FFO falls 8.1% per share; same-store NOI -5.7%
National Storage Affiliates Trust
2025-Q3 EPS reported
$0.46
revenue$565,898,000
- Net income $29.0M ($0.17 diluted EPS) vs $29.8M ($0.18) Q3 2024; Core FFO $76.5M ($0.57/share) down 8.1% YoY.
- Same-store NOI decreased 5.7% as revenues fell 2.6% and expenses rose 4.9%; occupancy 84.5% (-140 bps).
- Acquired two self-storage properties for ~$32M via unconsolidated JV during Q3; completed Moove In to iStorage rebranding.
- Subsequent to Q-end: formed IRE Joint Venture; NSA commits 75% preferred equity with 10% annual return.