National Storage Affiliates Trust ( (NSA) ) has released its Q2 earnings. Here is a breakdown of the information National Storage Affiliates Trust presented to its investors.
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National Storage Affiliates Trust is a real estate investment trust focused on the ownership, operation, and acquisition of self-storage properties across the United States, with a significant presence in the top 100 metropolitan statistical areas. In its second quarter 2025 earnings report, the company announced a net income of $31.0 million, marking a 4.1% decline from the previous year, while diluted earnings per share increased to $0.19 from $0.16. The company also reported a decrease in core funds from operations by 11.3% per share compared to the same period in 2024. Key financial metrics highlighted include a 6.1% decrease in same-store net operating income, influenced by a 3.0% drop in same-store total revenues and a 4.6% rise in property operating expenses. The company also reported a decrease in same-store occupancy to 85.0% as of June 30, 2025. Despite these challenges, NSA made strategic acquisitions and dispositions, including the purchase of a wholly-owned self-storage property and the sale of ten properties for approximately $66.5 million. Looking ahead, NSA management remains optimistic about the positive momentum from enhanced marketing and revenue management strategies, although they acknowledge the impact of macroeconomic conditions on their revised guidance for 2025.