NSA Q4 2025 net income rises 40.8% to USD 36.8 million

National Storage Affiliates Trust (NSA) reported Q4 2025 net income of USD 36.8 million (+40.8%) and diluted EPS of USD 0.23 (+53.3%). Core FFO was USD 77.4 million, or USD 0.57 per share (-5.0%), while FFO was USD 76.6 million, or USD 0.57 per share (-3.4%). Same-store NOI (771 stores) was USD 120.1 million (-0.7%), with same-store revenue of USD 169.4 million (-0.7%) and period-end occupancy of 84.0% (down 70 basis points). For FY 2025, NSA posted net income of USD 116.3 million (-36.6%) and diluted EPS of USD 0.69 (-41.5%). Core FFO was USD 301.7 million, or USD 2.23 per share (-8.6%), and FFO was USD 295.0 million, or USD 2.18 per share (-9.2%). Same-store NOI was USD 470.1 million (-4.5%). During Q4, NSA sold three wholly owned properties for net proceeds of about USD 23.8 million, and for FY 2025 it acquired four wholly owned properties for about USD 24.9 million while selling 15 wholly owned properties for net proceeds of about USD 96.9 million. Subsequent to quarter-end, NSA sold three additional wholly owned properties for about USD 21.1 million and acquired one wholly owned property for about USD 10.4 million. NSA also highlighted a new venture with an affiliate of Investment Real Estate Management, LLC, committing up to USD 105.0 million for preferred equity (75% of equity) alongside the partner’s up to USD 35.0 million common equity commitment (25%). The board declared a Q4 dividend of USD 0.57 per share and FY 2025 dividends of USD 2.28 per share. NSA issued FY 2026 Core FFO guidance of USD 2.13 to USD 2.25 per share. CEO David Cramer said operating momentum improved sequentially in most markets in Q4 and continued into the new year.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. $National Storage Affiliates Trust(NSA-B)$ published the original content used to generate this news brief via Business Wire (Ref. ID: 202602251605BIZWIRE_USPR_____20260225_BW484340) on February 25, 2026, and is solely responsible for the information contained therein.