Welcome to our dedicated page for National Storage Affiliates Tr news (Ticker: NSA), a resource for investors and traders seeking the latest updates and insights on National Storage Affiliates Tr stock.
National Storage Affiliates Trust (NSA) provides investors and industry observers with timely updates on its self-storage REIT operations across key U.S. markets. This page aggregates official press releases, financial disclosures, and strategic announcements, offering a centralized resource for tracking the company’s portfolio growth and market initiatives.
Access curated updates on property acquisitions, operational milestones, and earnings reports. Users benefit from direct access to primary source materials, ensuring accurate tracking of NSA’s performance within the competitive self-storage sector. Content spans quarterly financial results, brand expansions under its iStorage and SecurCare platforms, and leadership updates.
Regularly updated with verified information, this page supports informed analysis of NSA’s decentralized management model and metropolitan-focused growth strategy. Bookmark this resource for efficient monitoring of the trust’s evolving position in the commercial real estate landscape.
National Storage Affiliates Trust (NYSE: NSA) and Solar Landscape have entered into an agreement to develop over 100 megawatts of rooftop solar across NSA's properties nationwide. The partnership aims to utilize approximately 8.5 million square feet of rooftop space on about 1,000 NSA properties in 42 states and Puerto Rico. These community solar projects will power nearby homes and businesses at a discount, creating a more efficient electric grid. Solar Landscape will develop, own, and operate the projects, making monthly lease payments to NSA. The initiative aligns with NSA's corporate responsibility goals and commitment to sustainability while generating value for shareholders. Additionally, Solar Landscape's STEP-UP program will continue to provide solar training and education, contributing to workforce development in the clean energy sector.
National Storage Affiliates Trust (NYSE: NSA) has announced the appointment of Warren Allan to its Board of Trustees, effective August 15, 2024. Allan, co-founder and former President of Optivest Properties, will also serve on the Company's Audit Committee. Simultaneously, Mark Van Mourick has retired from the board. Allan brings extensive self storage experience, having grown Optivest to over 100 properties under management. He previously served on NSA's PRO Advisory Committee for 10 years. The company's Executive Chairperson, Tamara Fischer, expressed confidence in Allan's valuable knowledge and perspective. NSA management is scheduled to participate in the 2024 BofA Securities Global Real Estate Conference on September 10-11, 2024, in New York City.
National Storage Affiliates Trust (NSA), a NYSE-listed company, has announced its quarterly dividends for the third quarter of 2024. The Board of Trustees declared a dividend of $0.56 per common share, which represents an annualized dividend rate of $2.24. Additionally, a dividend of $0.375 per share was declared for both the 6.000% Series A and Series B Cumulative Redeemable Preferred Shares. These dividends are payable on September 30, 2024, to shareholders of record as of September 13, 2024. The company also announced its participation in the upcoming 2024 BofA Securities Global Real Estate Conference in New York City on September 10-11, 2024.
National Storage Affiliates Trust (NYSE: NSA) reported its Q2 2024 results, showing a decrease in net income of 29.0% to $32.3 million compared to Q2 2023. Diluted earnings per share fell to $0.16 from $0.28 year-over-year. Core FFO decreased 8.8% to $0.62 per share. Same store net operating income (NOI) decreased by 5.6%, driven by a 2.8% decrease in revenues and a 4.8% increase in operating expenses. The company acquired three properties for $25.2 million and repurchased 1,908,397 common shares for $71.6 million. NSA also completed the internalization of its participating regional operator (PRO) structure on July 1, 2024, which is expected to benefit results going forward. The company updated its 2024 guidance, lowering Core FFO per share estimates to $2.36-$2.44 from $2.40-$2.56 previously.
National Storage Affiliates Trust (NYSE: NSA) has promoted Pam Valentine to Senior Vice President, People Operations from her previous role as Vice President. Valentine, who joined NSA in 2021, will continue to report to CEO David Cramer. Her achievements include overseeing staff onboarding from two PRO retirements, the internalization of eight remaining PROs, and the integration of over 250 new acquisition properties.
Cramer praised Valentine's contributions, highlighting her role in growing the team and upgrading human resource platforms to support NSA's rapidly expanding corporate operating platform. The company also announced its participation in the 2024 BofA Securities Global Real Estate Conference scheduled for September 10-11, 2024, in New York City.
National Storage Affiliates Trust (NSA) will release its financial results for Q2 2024 on August 5, 2024, after market close. A conference call to discuss these results, along with current market conditions and future outlook, will be held on August 6, 2024, at 1:00 p.m. ET. The call will include a Q&A session for registered analysts, while other participants can listen via a webcast on the company's website. A replay of the webcast will be available for 30 days. NSA will also participate in the 2024 BofA Securities Global Real Estate Conference on September 10-11 in New York City.
National Storage Affiliates Trust (NYSE: NSA) announced the internalization of its participating regional operating (PRO) structure, effective July 1, 2024. This strategic move involves transitioning 32% of NSA's 1,050 properties managed by eight existing PROs to NSA's platform, aiming to simplify structure and enhance growth. The internalization is expected to save $7.5 - $9.0 million annually in G&A expenses and provide an estimated $0.03 - $0.04 accretion in FFO per share. NSA will acquire PRO management agreements and tenant insurance contracts for $85.0 - $90.0 million, paid in cash and OP units, with a phased management transition over twelve months. The internalization will also include launching a new website and enhancing brand flexibility and market positioning.
National Storage Affiliates Trust (NSA) has declared quarterly cash dividends for Q2 2024. Shareholders of record by June 14, 2024, will receive payments on June 28, 2024. The dividends include $0.56 per common share, equating to a $2.24 annualized rate, and $0.375 per share on both the 6.000% Series A and Series B Cumulative Redeemable Preferred Shares. Additionally, NSA management will participate in the Nareit REITweek: 2024 Investor Conference in New York from June 4-6, 2024.
National Storage Affiliates Trust (NYSE: NSA) announced that Michael Schall has been elected to the Board of Trustees, effective May 13, 2024. Schall, with extensive experience in executive leadership and REITs, will join the Audit and Finance Committees. He previously served as President and CEO of Essex Property Trust and currently sits on the Board of Trustees for Pebblebrook Hotel Trust. The announcement emphasized shareholders' strong support for Schall's appointment, expected to enhance NSA's strategic initiatives. NSA will participate in the Nareit REITweek: 2024 Investor Conference from June 4-6, 2024.
National Storage Affiliates Trust (NSA) reported a net income of $95.1 million for the first quarter of 2024, a 135.4% increase from the same period in 2023. The company reported diluted earnings per share of $0.65, a significant improvement from $0.24 in Q1 2023. However, core funds from operations (Core FFO) decreased by 9.1% per share compared to Q1 2023. Additionally, same store net operating income decreased by 3.7% due to lower total revenues and higher property operating expenses. Despite challenges, NSA remains positive about future prospects.
