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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.
NSA
NSA
NSA Revenue by Segment
Revenue by Segment
Rental Revenue
CapyFin.comOther Property-Related Revenue
CapyFin.comManagement Fees and Other Revenue
CapyFin.com Forward Guidance
NSA reaffirms its previously provided Core FFO guidance estimates and related assumptions for the year ended December 31, 2024.