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Sep 30, 2024
NSA Q3 2024 Earnings Report
National Storage Affiliates Trust reported third quarter 2024 results.
Key Takeaways
National Storage Affiliates Trust reported a net income of $29.8 million for the third quarter of 2024, a decrease of 30.9% compared to the third quarter of 2023. Core FFO was $83.9 million, or $0.62 per share and unit, a decrease of 7.5% per share compared to the third quarter of 2023. Same store NOI decreased by 5.3%, driven by a 3.5% decrease in same store total revenues and an increase of 1.2% in same store property operating expenses.
Net income decreased by 30.9% compared to the third quarter of 2023, with a reported value of $29.8 million.
Core FFO decreased by 7.5% per share compared to the third quarter of 2023, with a reported value of $83.9 million, or $0.62 per share and unit.
Same store NOI decreased by 5.3% compared to the same period in 2023.
Same store period-end occupancy was 85.6% as of September 30, 2024, a decrease of 270 basis points compared to September 30, 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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