Company: NSA-PB
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022674
Chunk: 10

Company: National Storage Affiliates Trust
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 10
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ITEM 1. FINANCIAL STATEMENTS

NATIONAL STORAGE AFFILIATES TRUST 

CONDENSED CONSOLIDATED BALANCE SHEETS

 (dollars in thousands, except per share amounts)

(Unaudited)

March 31,December 31,20252024ASSETSReal estateSelf storage properties$5,873,499 $5,864,134 Less accumulated depreciation(1,095,918)(1,051,638)Self storage properties, net4,777,581 4,812,496 Cash and cash equivalents19,266 50,408 Restricted cash909 345 Debt issuance costs, net4,921 5,632 Investment in unconsolidated real estate ventures235,591 246,193 Other assets, net196,079 218,482 Operating lease right-of-use assets20,657 20,906 Total assets$5,255,004 $5,354,462 LIABILITIES AND EQUITYLiabilitiesDebt financing$3,426,666 $3,449,087 Accounts payable and accrued liabilities92,016 98,657 Interest rate swap liabilities1,196 471 Operating lease liabilities22,662 22,888 Deferred revenue20,272 20,012 Total liabilities3,562,812 3,591,115 Commitments and contingencies (Note 11)EquityPreferred shares of beneficial interest, par value $0.01 per share. 50,000,000 authorized, 14,697,845 and 14,695,458 issued (in series) and outstanding at March 31, 2025 and December 31, 2024, respectively, at liquidation preference340,955 340,895 Common shares of beneficial interest, par value $0.01 per share. 250,000,000 authorized, 76,450,466 and 76,344,661 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively764 763 Additional paid-in capital1,249,291 1,249,426 Distributions in excess of earnings(566,346)(530,652)Accumulated other comprehensive income9,315 15,548 Total shareholders' equity1,033,979 1,075,980 Noncontrolling interests658,213 687,367 Total equity1,692