Company: NSA-PB
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001618563-25-000023
Chunk: 43

Company: National Storage Affiliates Trust
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 43
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ental revenue$169,838 $174,369 $339,313 $354,751 Other property-related revenue6,774 6,557 13,518 13,249 Total reportable segment revenue176,612 180,926 352,831 368,000 Property operating expensesStore payroll and related costs13,206 12,965 26,120 26,487 Property tax expense15,918 14,508 31,835 30,434 Utilities expense5,243 4,808 10,968 10,230 Repairs & maintenance expense4,707 4,227 9,711 8,524 Marketing expense6,862 4,918 12,390 9,717 Insurance expense2,505 2,828 5,194 5,579 Other property operating expenses7,186 7,947 14,513 15,924 Total property operating expenses55,627 52,201 110,731 106,895 Net operating income$120,985 $128,725 $242,100 $261,105 NOI represents rental revenue plus other property-related revenue, minus property operating expenses. NOI excludes management fees and other revenue, general and administrative expenses, depreciation and amortization, interest expense, loss on early extinguishment of debt, equity in losses (earnings) of unconsolidated real estate ventures, acquisition costs, non-operating (income) expense, gain on sale of self storage properties or income tax expense. The following table is a reconciliation of our reportable segment revenue to total revenue for the three and six months ended June 30, 2025 and 2024 (dollars in thousands):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Reportable segment revenueRental revenue$169,838 $174,369 $339,313 $354,751 Other property-related revenue6,774 6,557 13,518 13,249 Total reportable segment revenue176,612 180,926 352,831 368,000 Management fees and other revenue12,230 9,522 24,365 18,596 Total Revenue$188,842 $190,448 $377,196 $386,596 

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The following table is a reconciliation of our reported income before