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National Storage Affiliates Trust Earnings Calls
| Release date | Nov 03, 2025 |
| EPS estimate | $0.560 |
| EPS actual | $0.570 |
| EPS Surprise | 1.79% |
| Revenue estimate | 180.63M |
| Revenue actual | 188.702M |
| Revenue Surprise | 4.47% |
| Release date | Aug 04, 2025 |
| EPS estimate | $0.580 |
| EPS actual | $0.550 |
| EPS Surprise | -5.17% |
| Revenue estimate | 188.744M |
| Revenue actual | 188.842M |
| Revenue Surprise | 0.0519% |
| Release date | May 05, 2025 |
| EPS estimate | $0.560 |
| EPS actual | $0.540 |
| EPS Surprise | -3.57% |
| Revenue estimate | 186.065M |
| Revenue actual | 188.354M |
| Revenue Surprise | 1.23% |
| Release date | Feb 26, 2025 |
| EPS estimate | $0.190 |
| EPS actual | $0.600 |
| EPS Surprise | 215.79% |
| Revenue estimate | 187.081M |
| Revenue actual | 190.118M |
| Revenue Surprise | 1.62% |
Last 4 Quarters for National Storage Affiliates Trust
Below you can see how NSA performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Feb 26, 2025 |
| Price on release | $38.23 |
| EPS estimate | $0.190 |
| EPS actual | $0.600 |
| EPS surprise | 215.79% |
| Date | Price |
|---|---|
| Feb 20, 2025 | $37.78 |
| Feb 21, 2025 | $37.73 |
| Feb 24, 2025 | $38.13 |
| Feb 25, 2025 | $38.86 |
| Feb 26, 2025 | $38.23 |
| Feb 27, 2025 | $39.00 |
| Feb 28, 2025 | $38.62 |
| Mar 03, 2025 | $38.57 |
| Mar 04, 2025 | $38.05 |
| 4 days before | 1.19% |
| 4 days after | -0.471% |
| On release day | 2.01% |
| Change in period | 0.715% |
| Release date | May 05, 2025 |
| Price on release | $37.78 |
| EPS estimate | $0.560 |
| EPS actual | $0.540 |
| EPS surprise | -3.57% |
| Date | Price |
|---|---|
| Apr 29, 2025 | $36.27 |
| Apr 30, 2025 | $37.20 |
| May 01, 2025 | $37.23 |
| May 02, 2025 | $37.74 |
| May 05, 2025 | $37.78 |
| May 06, 2025 | $35.98 |
| May 07, 2025 | $36.10 |
| May 08, 2025 | $36.34 |
| May 09, 2025 | $36.64 |
| 4 days before | 4.16% |
| 4 days after | -3.02% |
| On release day | -4.76% |
| Change in period | 1.02% |
| Release date | Aug 04, 2025 |
| Price on release | $29.44 |
| EPS estimate | $0.580 |
| EPS actual | $0.550 |
| EPS surprise | -5.17% |
| Date | Price |
|---|---|
| Jul 29, 2025 | $31.52 |
| Jul 30, 2025 | $30.84 |
| Jul 31, 2025 | $29.46 |
| Aug 01, 2025 | $29.60 |
| Aug 04, 2025 | $29.44 |
| Aug 05, 2025 | $30.29 |
| Aug 06, 2025 | $30.19 |
| Aug 07, 2025 | $30.24 |
| Aug 08, 2025 | $29.76 |
| 4 days before | -6.60% |
| 4 days after | 1.09% |
| On release day | 2.89% |
| Change in period | -5.58% |
| Release date | Nov 03, 2025 |
| Price on release | $29.11 |
| EPS estimate | $0.560 |
| EPS actual | $0.570 |
| EPS surprise | 1.79% |
| Date | Price |
|---|---|
| Oct 28, 2025 | $31.00 |
| Oct 29, 2025 | $29.96 |
| Oct 30, 2025 | $29.07 |
| Oct 31, 2025 | $29.09 |
| Nov 03, 2025 | $29.11 |
| Nov 04, 2025 | $29.86 |
| Nov 05, 2025 | $30.70 |
| Nov 06, 2025 | $30.02 |
| Nov 07, 2025 | $30.71 |
| 4 days before | -6.10% |
| 4 days after | 5.50% |
| On release day | 2.58% |
| Change in period | -0.94% |
National Storage Affiliates Trust Earnings Call Transcript Summary of Q3 2025
National Storage Affiliates (NSA) reported Q3 2025 results that management characterized as a clear inflection toward operational stabilization and improving revenue trends. Core FFO per share was $0.57, roughly in line with expectations and down 8% year-over-year, driven by lower same-store NOI and higher interest expense. Same-store revenues declined 2.6% in Q3, but management highlighted sequential improvement versus H1 2025: rental revenue decline narrowed to -2.2% in Q3 from -3.2% earlier in the year. Occupancy ended October at 84.3% (down ~170 bps YoY) while contract rates in October were +160 bps YoY, producing a roughly flat RevPAF in October.
Management emphasized operational progress from consolidation (brand, platforms, centralized revenue management and marketing), targeted marketing spend, and expense discipline. They launched a preferred-equity growth vehicle with former PRO partners to deploy capital more accretively and create a captive pipeline, while continuing portfolio capital recycling via modest dispositions and JV investments. Balance sheet commentary was constructive: amended credit facility to remove a 10-bp SOFR adjustment (~$1M annual savings), ~$400M revolver balance with $550M availability, and net debt-to-EBITDA of 6.7x. Guidance for 2025 was maintained, with management reiterating that Q4 midpoint implies continued improvement into 2026 and that they expect further momentum in revenue growth and occupancy next year.
