earnings
confidence high
sentiment neutral
materiality 0.75
NSA Q4 2025 net income $36.8M (+40.8% YoY); Core FFO per share $0.57 (-5.0% YoY)
National Storage Affiliates Trust
2025-FY EPS reported
$0.69
revenue$752,929,000
- Net income $36.8M, diluted EPS $0.23 vs $0.15 in Q4 2024; full-year net income $116.3M (-36.6% YoY).
- Core FFO $77.4M ($0.57/share), down 5.0% per share from Q4 2024; full-year Core FFO $2.23/share (-8.6%).
- Same store NOI -0.7% (revenue -0.7%, expenses -0.8%); period-end occupancy 84.0% (-70 bps YoY).
- Q4 sold 3 wholly-owned properties for ~$23.8M; after quarter-end sold 3 for ~$21.1M and acquired 1 for ~$10.4M.
- Management reports sequential revenue improvement, narrowed occupancy gap, bullish for 2026.