{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-048227","form_type":"8-K","ticker":"NSA","cik":"0001618563","company_name":"National Storage Affiliates Trust","filed_at":"2025-11-03T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.936403+00:00","generated_at":"2026-05-17T00:53:29.488731+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"NSA Q3 net income down 2.5% to $29M; Core FFO falls 8.1% per share; same-store NOI -5.7%","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-048227","json":"https://secwatch.observer/filing/0001628280-25-048227.json","markdown":"https://secwatch.observer/filing/0001628280-25-048227.md","text":"https://secwatch.observer/filing/0001628280-25-048227.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1618563/000162828025048227/0001628280-25-048227-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1618563/000162828025048227/nsa-20251103.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T00:53:29.488731+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}