Company: NSA-PB
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001618563-25-000023
Chunk: 92

Company: National Storage Affiliates Trust
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 92
---
 computed in accordance with GAAP, as presented in our condensed consolidated financial statements.

37

The following table presents a reconciliation of net income to FFO and Core FFO for the three and six months ended June 30, 2025 and 2024 (dollars in thousands, except per share and unit amounts):

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net income $30,958 $32,280 $50,477 $127,368 Add (subtract):Real estate depreciation and amortization47,137 46,339 94,798 93,302 Equity in losses of unconsolidated real estate ventures3,945 4,449 9,684 6,079 Company's share of FFO in unconsolidated real estate ventures5,440 6,177 10,492 11,862 Gain on sale of self storage properties(9,571)(2,668)(10,996)(63,841)Distributions to preferred shareholders and unitholders(5,568)(5,568)(11,136)(11,136)FFO attributable to subordinated performance units(1)— (10,891)— (21,622)FFO attributable to common shareholders, OP unitholders, and LTIP unitholders72,341 70,118 143,319 142,012 Add:Acquisition costs457 480 860 987 Integration and executive severance costs(2)1,583 626 3,625 626 Core FFO attributable to common shareholders, OP unitholders, and LTIP unitholders$74,381 $71,224 $147,804 $143,625 Weighted average shares and units outstanding - FFO and Core FFO:(3)Weighted average shares outstanding - basic76,474 75,160 76,423 77,698 Weighted average restricted common shares outstanding26 21 24 22 Weighted average OP units outstanding52,115 37,644 52,131 37,638 Weighted average DownREIT OP unit outstanding5,769 2,120 5,769 2,120 Weighted average LTIP units outstanding888 673 906 683 Total weighted average shares and units outstanding - FFO and Core FFO135,272 115,618 135,