secwatch.observer — SEC 8-K summary
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Issuer:     National Storage Affiliates Trust (NSA)
CIK:        0001618563
Form:       8-K
Filed at:   2025-11-03T23:59:59+00:00
Accession:  0001628280-25-048227
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NSA Q3 net income down 2.5% to $29M; Core FFO falls 8.1% per share; same-store NOI -5.7%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1618563/000162828025048227/0001628280-25-048227-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1618563/000162828025048227/nsa-20251103.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-048227

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