National Storage Affiliates Trust ( (NSA) ) has released its Q3 earnings. Here is a breakdown of the information National Storage Affiliates Trust presented to its investors.
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National Storage Affiliates Trust, a real estate investment trust based in Greenwood Village, Colorado, focuses on owning, operating, and acquiring self-storage properties across the United States. In its third quarter of 2025 earnings report, the company announced a net income of $29.0 million, marking a 2.5% decrease from the previous year. The company’s diluted earnings per share also saw a slight decline from $0.18 to $0.17. Core funds from operations fell by 8.1% per share, reflecting challenges in the current market environment. Key financial metrics highlighted a decrease in same store net operating income by 5.7%, influenced by a 2.6% drop in same store total revenues and a 4.9% rise in property operating expenses. The company also reported a decrease in same store occupancy to 84.5%. Despite these challenges, NSA made strategic moves by acquiring two self-storage properties for $32.0 million and rebranding its Moove In stores to iStorage. Looking ahead, NSA’s management remains optimistic about the future, citing potential improvements in self-storage fundamentals due to expected interest rate cuts and a favorable supply environment. The company is poised to capitalize on these opportunities through enhanced operational efficiency and strategic capital recycling.