NSA Q1 net income $27.7M (EPS $0.16), Core FFO $0.57; same-store NOI +2.0%; merger with PSA on track for Q3 2026

National Storage Affiliates Trust

2026-Q1 EPS reported $0.16 revenue$185,401,000

Net income $27.7M (diluted EPS $0.16) vs $19.5M ($0.10) in Q1 2025, +41.8%.
Core FFO per share $0.57, up 5.6% YoY; same-store NOI +2.0% driven by expense reduction of 3.9%.
Same-store occupancy 84.5% at Mar 31 (up 70 bps YoY); subsequent occupancy 84.9% at Apr 30.
Acquired one property for $10.4M and sold three for $20.6M during Q1; sold additional three for $5.7M post-quarter.
Merger with Public Storage valued at ~$10.5B enterprise; expected to close Q3 2026 subject to shareholder vote.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

National Storage Affiliates Trust reported the quarter ended March 31, 2026 results: net income $27.7 million, EPS $0.16.

Period: the quarter ended March 31, 2026
Net income: $27.7 million
EPS: $0.16
Result: reported results

Exact text from the filing

Reported net income of $27.7 million for the first quarter of 2026, an increase of 41.8% compared to the first quarter of 2025. Reported diluted earnings per share of $0.16 for the first quarter of 2026 compared to $0.10 for the first quarter of 2025.

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National Storage Affiliates Trust filing history →

Source: SEC EDGAR

accession 0001628280-26-030498

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