National Storage: Fourth Quarter Financial Overview

National Storage Affiliates Surpasses Profit Expectations in Q4

National Storage Affiliates, a real estate investment trust headquartered in Greenwood Village, Colorado, announced its fourth-quarter financial results on Wednesday, exceeding analysts’ profit forecasts.

During the quarter, the company reported funds from operations totaling $77.4 million, which translates to 57 cents per share.

According to Zacks Investment Research, the consensus estimate from five analysts was 55 cents per share in funds from operations, meaning NSA outperformed projections.

Funds from operations is a key performance indicator for REITs, as it adjusts net income by adding back non-cash expenses like depreciation and amortization.

NSA also posted a net income of $17.8 million, or 23 cents per share, for the quarter.

Quarterly revenue reached $187 million, slightly below the $187.2 million anticipated by three analysts surveyed by Zacks.

For the full year, National Storage Affiliates reported $301.7 million in funds from operations and $752.9 million in total revenue.

Looking ahead, the company projects its funds from operations for the upcoming year to fall between $2.13 and $2.25 per share.