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Mar 31, 2024
NSA Q1 2024 Earnings Report
NSA Q1 2024 results reported.
Key Takeaways
National Storage Affiliates Trust reported a net income of $95.1 million for Q1 2024, a 135.4% increase compared to Q1 2023. Core FFO was $72.4 million, or $0.60 per share, a decrease of 9.1% per share compared to the same period last year. Same store NOI decreased by 3.7%, driven by a 1.5% decrease in same store total revenues and a 4.5% increase in same store property operating expenses.
Net income increased 135.4% compared to the first quarter of 2023, reaching $95.1 million.
Core FFO decreased by 9.1% per share compared to the first quarter of 2023, totaling $72.4 million or $0.60 per share.
Same store NOI decreased by 3.7% compared to the same period in 2023.
Period-end occupancy stood at 85.9%, a decrease of 350 basis points compared to March 31, 2023.
Revenue by Segment
Forward Guidance
NSA reaffirms its previously provided Core FFO guidance estimates and related assumptions for the year ended December 31, 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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