Company: NSA-PB
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001618563-25-000023
Chunk: 83

Company: National Storage Affiliates Trust
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 83
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189 (3,385)Depreciation and amortization47,612 46,710 902 Other4,500 3,375 1,125 Total operating expenses120,543 118,475 2,068 Other (expense) incomeInterest expense(41,269)(37,228)(4,041)Equity in (losses) of unconsolidated real estate ventures(3,945)(4,449)504 Acquisition and integration costs(2,040)(480)(1,560)Non-operating income462 337 125 Gain on sale of self storage properties9,571 2,668 6,903 Other expense, net(37,221)(39,152)1,931 Income before income taxes 31,078 32,821 (1,743)Income tax expense(120)(541)421 Net income30,958 32,280 (1,322)Net income attributable to noncontrolling interests(11,487)(15,218)3,731 Net income attributable to National Storage Affiliates Trust19,471 17,062 2,409 Distributions to preferred shareholders(5,114)(5,110)(4)Net income attributable to common shareholders$14,357 $11,952 $2,405 

Total Revenue

Our total revenue, including management fees and other revenue, decreased by $1.6 million, or 0.8%, for the three months ended June 30, 2025, as compared to the three months ended June 30, 2024. This decrease in total revenue was attributable to a decrease in total portfolio average occupancy from 86.1% for the three months ended June 30, 2024 to 83.6% for the three months ended June 30, 2025 and to the sale of 11 self storage properties to unaffiliated third parties between April 1, 2024 and June 30, 2025. Average occupancy is calculated based on the average of the month-end occupancy immediately preceding the period presented and the month-end occupancies included in the respective period presented.

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Rental Revenue

Rental revenue decreased by $4.5 million, or 2.6%, for the three months ended June 30, 2025, as compared to the three months ended June 30, 2024. The decrease in rental revenue was attributable