{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-26-011627","form_type":"8-K","ticker":"NSA","cik":"0001618563","company_name":"National Storage Affiliates Trust","filed_at":"2026-02-25T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.653543+00:00","generated_at":"2026-05-16T00:19:24.926236+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"NSA Q4 2025 net income $36.8M (+40.8% YoY); Core FFO per share $0.57 (-5.0% YoY)","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-011627","json":"https://secwatch.observer/filing/0001628280-26-011627.json","markdown":"https://secwatch.observer/filing/0001628280-26-011627.md","text":"https://secwatch.observer/filing/0001628280-26-011627.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1618563/000162828026011627/0001628280-26-011627-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1618563/000162828026011627/nsa-20260225.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T00:19:24.926236+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"}