National Storage Affiliates Tr Stock Price, News & Analysis

National Storage Affiliates Trust (NSA) reported its Q4 and full year 2024 results, showing significant declines across key metrics. Q4 net income dropped 75.8% to $26.1 million, with diluted EPS falling to $0.15 from $0.72 year-over-year. Core FFO decreased 11.8% to $0.60 per share.

Same store performance weakened with a 7.5% NOI decrease in Q4, driven by a 4.3% revenue decline and 4.7% increase in operating expenses. Period-end occupancy fell 140 basis points to 84.4%.

For full year 2024, net income decreased 22.7% to $183.3 million, with Core FFO declining 9.3% to $2.44 per share. The company completed strategic transactions including acquiring 7 properties for $64.9 million, selling 40 properties for $273.1 million, and contributing 56 properties to a joint venture. NSA also repurchased 7.4 million shares for $275.2 million and completed the internalization of its PRO structure.

National Storage Affiliates Trust (NYSE: NSA) has announced its quarterly dividend declarations for the first quarter 2025. The company will pay $0.57 per common share, which represents an annualized dividend rate of $2.28. Additionally, NSA declared dividends of $0.375 per share on both its 6.000% Series A and Series B Cumulative Redeemable Preferred Shares.

All dividends will be payable on March 31, 2025, to shareholders of record as of March 14, 2025. The company also announced that its management will participate in Citi's 2025 Global Property CEO Conference, scheduled for March 3-5, 2025, in Hollywood, Florida.

National Storage Affiliates Trust (NYSE: NSA) has announced it will release its financial results for Q4 and full-year 2024 after market close on Wednesday, February 26, 2025. The company will host a conference call to discuss these results on Thursday, February 27, 2025, at 1:00 p.m. Eastern Time.

The conference call will include prepared remarks followed by a Q&A session open to registered financial analysts. Other participants can access the webcast through the company's website. A replay will be available for 30 days on NSA's website. Supplemental materials will be posted to the investor relations section before the call.

Additionally, NSA management will participate in Citi's 2025 Global Property CEO Conference from March 3-5, 2025 in Hollywood, Florida.

National Storage Affiliates Trust (NYSE: NSA) has released its tax treatment details for 2024 distributions. For common shareholders, the total distribution of $2.25 per share consists of $1.27 in ordinary dividends and $0.98 in nondividend distributions.

Both Series A and Series B Preferred Shares received total distributions of $1.50 per share for 2024, classified entirely as ordinary dividends. The company confirms that the ordinary dividends qualify as 'qualified REIT dividends' under Internal Revenue Code section 199A.

Distributions were paid quarterly, with common shares seeing a slight increase in the fourth quarter payment to $0.57 per share from $0.56 in previous quarters. Preferred shares maintained consistent quarterly payments of $0.375 throughout the year.

National Storage Affiliates Trust (NYSE: NSA) has announced the promotion of John Esbenshade to Chief Accounting Officer, effective January 1, 2025. Esbenshade, who currently serves as Senior Vice President, Controller, has been with NSA since March 2019 and has been instrumental in evolving the company's accounting team and platform, particularly during the internalization of the Participating Regional Operator structure.

Prior to joining NSA, Esbenshade held the position of Vice President of Technical Accounting and Strategic Capital at Prologis (2014-2019) and worked in Deloitte's audit practice (2003-2014). He is a certified public accountant with both Master and Bachelor of Science degrees in Business Administration from the University of Colorado Boulder.

National Storage Affiliates Trust (NYSE: NSA) has declared its fourth quarter 2024 dividends. Common shareholders will receive $0.57 per share, representing an annualized rate of $2.28. Additionally, holders of both Series A and Series B 6.000% Cumulative Redeemable Preferred Shares will receive $0.375 per share. The dividends are payable on December 31, 2024 to shareholders of record as of December 13, 2024.

National Storage Affiliates Trust reported its Q3 2024 results with net income of $29.8 million, down 30.9% from Q3 2023. Diluted earnings per share decreased to $0.18 from $0.26 year-over-year. Core FFO was $83.9 million ($0.62 per share), showing a 7.5% decrease. Same-store NOI declined 5.3%, driven by a 3.5% decrease in revenues and 1.2% increase in operating expenses. The company completed its PRO structure internalization and issued $350 million in senior unsecured notes at 5.6% interest. Through a joint venture, NSA acquired 18 self-storage properties for $147.9 million.

National Storage Affiliates Trust (NYSE: NSA) has announced the release date for its third quarter 2024 financial results. The company will disclose its earnings after market close on Wednesday, October 30, 2024. A conference call to discuss the results is scheduled for Thursday, October 31, 2024, at 1:00 p.m. Eastern Time.

The call will feature prepared remarks from management, followed by a Q&A session open to registered financial analysts. Other participants can access the webcast via the company's website. A replay of the webcast will be available for 30 days on NSA's investor relations page.

Additionally, NSA management will participate in two upcoming industry events: the Nareit REITworld 2024 Annual Conference from November 18-20 in Las Vegas, and the Jefferies Real Estate Conference from December 10-11 in Miami Beach.

National Storage Affiliates Trust (NYSE: NSA) has announced that its operating partnership, NSA OP, LP, has issued $350 million of senior unsecured notes in a private placement with institutional investors. The notes have a weighted average maturity of 7.6 years and a weighted average coupon of 5.60%. The issuance consists of three tranches:

• $75 million at 5.40% due September 5, 2028
• $125 million at 5.55% due September 5, 2031
• $150 million at 5.74% due September 5, 2034

NSA plans to use the proceeds to repay outstanding debt and for general corporate purposes. The notes are not registered under the Securities Act and are being offered under an exemption from registration.