National storage affiliates trust (NSA)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
REVENUE
Rental revenue

95,402

92,083

92,746

87,175

82,855

81,826

79,547

75,019

72,011

69,101

64,715

60,154

57,844

55,630

51,263

45,784

38,501

37,219

34,600

30,632

27,418

25,914

20,274

15,793

12,856

Revenue

104,222

100,568

101,337

95,419

90,572

89,298

85,382

79,723

76,493

73,368

68,858

64,341

61,563

59,164

52,949

47,284

39,649

38,300

35,678

31,650

28,291

26,731

20,863

16,215

13,161

OPERATING EXPENSES
Property operating expenses

30,592

27,712

28,988

27,190

26,457

26,913

26,552

25,184

25,226

23,285

21,618

19,803

19,749

18,734

17,330

15,457

13,277

12,744

12,000

10,826

9,842

9,248

7,710

6,033

4,922

General and administrative expenses

11,094

11,992

12,039

11,170

10,380

10,606

8,848

8,460

8,306

7,994

7,480

7,405

7,181

7,097

5,259

4,837

4,335

4,409

4,056

4,187

3,613

2,740

2,315

1,796

1,338

Depreciation and amortization

29,105

27,343

27,598

25,829

24,349

22,921

22,469

22,389

21,368

20,169

18,463

17,800

18,683

16,765

14,319

13,088

10,892

10,459

10,341

9,974

9,877

8,474

6,777

4,697

3,837

Other

389

-

-

-

386

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

71,180

66,661

68,625

64,189

61,572

60,440

57,869

56,033

54,900

51,448

47,561

45,008

45,613

42,596

36,908

33,382

28,504

27,612

26,397

24,987

23,332

20,462

16,802

12,526

10,097

OTHER (EXPENSE) INCOME
Operating Income (Loss)

-

-

-

-

-

-

-

-

-

-

21,297

19,333

15,950

16,568

16,041

13,902

11,145

10,688

9,281

6,663

4,959

6,269

4,061

3,689

3,064

OTHER (EXPENSE) INCOME
Interest expense

15,628

14,874

14,432

13,947

13,211

11,961

10,656

10,472

9,635

9,280

9,157

8,160

7,471

7,059

6,265

5,844

4,941

4,727

4,246

4,824

6,982

7,405

5,459

4,723

5,446

Loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-136

-

-

0

-914

-

-

0

-1,020

-

Equity in losses of unconsolidated real estate ventures

-340

-8

-1,214

-1,646

-2,102

-1,713

242

100

-52

-79

-710

-765

-785

-1,484

0

0

0

-

-

-

-

-

-

-

-

Acquisition costs

833

534

321

305

157

192

141

150

180

143

139

167

144

1,813

1,737

1,708

1,288

573

2,874

719

599

1,195

3,092

5,089

182

Organizational and offering expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

58

104

539

442

235

Non-operating expense

-192

727

-8

-169

-98

-160

153

0

-84

17

-9

-14

-52

-70

-15

-57

-5

164

-52

-113

-91

64

3

1

-4

Gain on sale of self storage properties

-

-

0

2,814

-

0

0

-83

474

-28

106

5,637

0

-

0

0

-

-

-

-

-

-

1

1,426

-

Other expense

-16,993

-14,689

-15,975

-13,253

-15,568

-14,026

-10,402

-10,605

-9,477

-9,513

-9,909

-3,469

-8,452

-10,426

-8,017

-7,745

-6,234

-5,136

-7,172

-6,570

-7,730

-8,640

-9,086

-9,847

-5,867

Income before income taxes

16,049

19,218

16,737

17,977

13,432

14,832

17,111

13,085

12,116

12,407

11,388

15,864

7,498

6,142

8,024

6,157

4,911

-

-

-

-

-

-

-

-

Income tax expense

286

392

223

244

492

349

282

44

143

392

162

288

317

67

80

112

109

-

-

-

-

-

-

-

-

Net income

15,763

18,826

16,514

17,733

12,940

14,483

16,829

13,041

11,973

12,015

11,226

15,576

7,181

6,075

7,944

6,045

4,802

5,365

2,109

93

-2,771

-2,371

-5,025

-6,158

-2,803

Net income attributable to noncontrolling interests

9,115

5,738

25,374

25,389

5,529

21,119

12,435

7,150

1,513

13,247

9,955

13,209

6,626

-2,321

7,955

-1,325

2,592

761

-2,263

-3,371

-2,771

-2,371

-5,025

-6,158

-2,803

Net income attributable to National Storage Affiliates Trust

6,648

13,088

-8,860

-7,656

7,411

-6,636

4,394

5,891

10,460

-1,232

1,271

2,367

555

8,396

-11

7,370

2,210

4,604

4,372

3,464

0

0

0

0

0

Distributions to preferred shareholders

3,273

3,273

3,272

3,257

2,588

2,587

2,588

2,587

2,588

2,300

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to common shareholders

3,375

9,815

-12,132

-10,913

4,823

-9,223

1,806

3,304

7,872

-3,532

1,271

2,367

555

-

-

-

-

-

-

-

-

-

-

-

-

Earnings (loss) per common share - basic and diluted
Earnings (loss) per share - basic and diluted (in dollars per share)

0.06

-

-0.20

-

0.08

-

0.03

-

-

-

0.03

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

Weighted average shares outstanding - basic and diluted (in shares)

59,798

-

59,278

-

56,655

-

55,722

-

-

-

44,269

-

-

-

-

-

-

-

-

-

-

-

-

-

1

Earnings (loss) per share - basic

-

-

-

-0.19

-

-

-

0.07

0.16

-

-

0.05

0.01

0.18

0.00

0.32

0.10

0.39

0.19

0.22

0.00

-

0.00

0.00

-

Earnings (loss) per share - diluted

-

-

-

-0.19

-

-

-

0.07

0.09

-

-

0.05

0.01

0.16

0.00

0.08

0.07

0.14

0.03

0.00

0.00

-

0.00

0.00

-

Weighted average shares outstanding - basic

-

-

-

57,543

-

-

-

50,486

50,299

-

-

44,223

43,401

38,385

35,080

23,078

23,005

23,334

23,000

15,517

1

-

1

1

-

Weighted average shares outstanding - diluted

-

-

-

57,543

-

-

-

50,486

99,935

-

-

44,223

43,401

138,383

35,080

73,531

67,994

65,614

63,456

52,565

1

-

1

1

-

Dividends declared per common share (in dollars per share)

0.33

-

0.32

0.32

0.30

-

0.29

0.29

0.28

-

0.26

0.26

0.24

-

0.22

0.22

0.20

-

0.19

0.15

0.00

-

0.00

0.00

-

Other property-related revenue
Revenue

3,371

3,133

3,217

3,128

2,824

2,626

2,687

2,549

2,321

2,184

2,145

2,045

1,881

1,725

1,686

1,500

1,148

1,081

1,078

1,018

873

817

589

422

305

Management fees and other revenue
Revenue

5,449

5,352

5,374

5,116

4,893

4,846

3,148

2,155

2,161

2,083

1,998

2,142

1,838

1,809

0

0

0

-

-

-

-

-

-

-

-