Quarterly ResultMay 5, 2026, 04:13 PM
National Storage Affiliates Q1 Net Income $27.7M, Core FFO $0.57/Share
AI Summary
National Storage Affiliates Trust reported strong first quarter 2026 financial results, with net income increasing 41.8% to $27.7 million and Core FFO per share rising 5.6% to $0.57. The company also saw a 2.0% increase in same store net operating income and a 70 basis point improvement in same store occupancy. The previously announced merger with Public Storage, valued at approximately $10.5 billion, is still expected to close in the third quarter of 2026.
Key Highlights
- Net income increased 41.8% to $27.7 million in Q1 2026.
- Diluted earnings per share rose to $0.16 from $0.10 in Q1 2025.
- Core FFO per share increased 5.6% to $0.57 for Q1 2026.
- Same store net operating income grew 2.0% in Q1 2026.
- Same store period-end occupancy reached 84.5%, up 70 basis points.
- Acquired one property for $10.4 million; sold three properties for $20.6 million.
- Merger with Public Storage, valued at $10.5 billion, expected to close in Q3 2026.
- Declared a quarterly cash dividend of $0.57 per common share.