Company: NSA-PB
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001628280-25-022674
Chunk: 11

Company: National Storage Affiliates Trust
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 11
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,192 1,763,347 Total liabilities and equity$5,255,004 $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 EndedMarch 31,20252024REVENUERental revenue$169,475 $180,382 Other property-related revenue6,744 6,692 Management fees and other revenue12,135 9,074 Total revenue188,354 196,148 OPERATING EXPENSESProperty operating expenses55,104 54,694 General and administrative expenses13,145 15,674 Depreciation and amortization48,116 47,331 Other4,476 3,492 Total operating expenses120,841 121,191 OTHER (EXPENSE) INCOMEInterest expense(40,475)(38,117)Equity in (losses) of unconsolidated real estate ventures(5,739)(1,630)Acquisition and integration costs(2,445)(507)Non-operating income360 98 Gain on sale of self storage properties1,425 61,173 Other (expense) income, net(46,874)21,017 Income before income taxes20,639 95,974 Income tax expense(1,120)(886)Net income19,519 95,088 Net income attributable to noncontrolling interests(6,525)(36,061)Net income attributable to National Storage Affiliates Trust12,994 59,027 Distributions to preferred shareholders(5,114)(5,110)Net income attributable to common shareholders$7,880 $53,917 Earnings per share - basic$0.10 $0.67 Earnings per share - diluted$0.10 $0.65 Weighted average shares outstanding - basic76,372 80,236 Weighted average shares outstanding - diluted76,372 138,148 Dividends declared per common share$0.57 $0.56 

See notes to condensed consolidated financial statements.4

NATIONAL STORAGE AFFILIATES TRUSTCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (dollars in thousands)(Unaudited)

Three Months Ended