Company: NSA-PB
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001618563-25-000023
Chunk: 12

Company: National Storage Affiliates Trust
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 12
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 interests635,600 687,367 Total equity1,637,682 1,763,347 Total liabilities and equity$5,181,285 $5,354,462 

See notes to condensed consolidated financial statements.3

NATIONAL STORAGE AFFILIATES TRUSTCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts)(Unaudited)

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024REVENUERental revenue$169,838 $174,369 $339,313 $354,751 Other property-related revenue6,774 6,557 13,518 13,249 Management fees and other revenue12,230 9,522 24,365 18,596 Total revenue188,842 190,448 377,196 386,596 OPERATING EXPENSESProperty operating expenses55,627 52,201 110,731 106,895 General and administrative expenses12,804 16,189 25,949 31,863 Depreciation and amortization47,612 46,710 95,728 94,041 Other4,500 3,375 8,976 6,867 Total operating expenses120,543 118,475 241,384 239,666 OTHER (EXPENSE) INCOMEInterest expense(41,269)(37,228)(81,744)(75,345)Equity in (losses) of unconsolidated real estate ventures(3,945)(4,449)(9,684)(6,079)Acquisition and integration costs(2,040)(480)(4,485)(987)Non-operating income462 337 822 435 Gain on sale of self storage properties9,571 2,668 10,996 63,841 Other expense, net(37,221)(39,152)(84,095)(18,135)Income before income taxes31,078 32,821 51,717 128,795 Income tax expense(120)(541)(1,240)(1,427)Net income30,958 32,280 50,477 127,368 Net income attributable to noncontrolling interests(11,487)(15,218)(18,012)(51,279)Net income attributable to National Storage Affiliates Trust19