NYSE$NSA
National Storage Affiliates Trust · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
NSA's Q3 2021 results were reported, showing significant growth in net income, core FFO, and same-store NOI.
National Storage Affiliates Trust reported a strong third quarter in 2021, marked by a 90.2% increase in net income, substantial growth in core FFO per share, and a significant rise in same-store NOI. The company also completed several strategic acquisitions and capital market activities.
- Net income increased by 90.2% to $40.7 million compared to Q3 2020.
- Core FFO per share increased by 29.5% to $0.57 compared to Q3 2020.
- Same store NOI increased by 24.3% driven by an 18.4% increase in same store total revenues.
- Acquired 76 wholly-owned self storage properties for $599.3 million.
Headline financials
Revenue & EPS history
NSA · Revenue · Quarterly
$151M
Revenue by segment
NSA · $151M total across 3 segments · Q3 2021
- Rental Revenue$139M+39.9%92.4%
- Management Fees and Other$6.28M+6.5%4.2%
- Other Property-Related$5.14M+32.4%3.4%
Forward guidance
NSA updated its FFO guidance estimates and related assumptions for the year ended December 31, 2021.
Tailwinds
- Core FFO per share is expected to be between $2.19 and $2.22.
- Same store total revenue growth is projected to be between 14.0% and 15.0%.
- Same store NOI growth is expected to be between 18.0% and 20.0%.
- Management fees and other revenue are estimated to be between $24.0 million and $25.0 million.
- Core FFO from unconsolidated real estate ventures is projected to be between $20.0 million and $21.0 million.
Headwinds
- Same store property operating expenses growth is expected to be between 3.0% and 4.0%.
- General and administrative expenses (excluding equity-based compensation) are projected to be between $45.0 million and $46.0 million.
- Equity-based compensation is estimated to be between $5.5 million and $6.0 million.
- Subordinated performance unit distributions are projected to be between $46.0 million and $48.0 million.
- Acquisitions of self storage properties are expected to be between $1,500.0 million and $2,000.0 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
-0.5%
Avg return
Earnings day
-0.0%
Avg return
5 days after
+1.5%
Avg return
30 days after
48%
21 / 44 earnings
Positive
+5.6%
Q4 2020
Best reaction
-12.0%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.7% | +5.0% | +3.2% | |
| Q4 2025 | +0.4% | +0.6% | +7.9% | |
| Q3 2025 | +2.8% | +5.5% | +1.8% | |
| Q1 2025 | -4.8% | -3.0% | -11.4% | |
| Q4 2024 | +2.0% | -0.5% | +1.3% | |
| Q3 2024 | -0.8% | -1.2% | +6.1% | |
| Q2 2024 | -1.6% | +0.5% | +8.3% | |
| Q1 2024 | +1.9% | +4.1% | +4.4% | |
| Q4 2023 | +0.6% | +3.1% | +10.0% | |
| Q3 2023 | +3.8% | +5.7% | +21.2% | |
| Q2 2023 | -1.4% | +0.0% | +4.0% | |
| Q1 2023 | -4.7% | -1.5% | -5.0% | |
| Q4 2022 | +2.1% | +7.7% | -2.3% | |
| Q3 2022 | -12.0% | -11.9% | -8.0% | |
| Q2 2022 | -1.0% | +1.8% | -5.0% | |
| Q1 2022 | -0.4% | -10.1% | -7.1% | |
| Q4 2021 | -1.5% | +3.3% | +5.1% | |
| Q3 2021 | +0.6% | -1.1% | +0.2% | |
| Q2 2021 | +0.7% | +0.2% | +7.7% | |
| Q1 2021 | +0.9% | +2.2% | +6.0% | |
| Q4 2020 | +5.6% | +2.2% | +4.7% | |
| Q3 2020 | -2.0% | +1.2% | -3.1% | |
| Q2 2020 | +4.6% | +3.8% | +7.7% | |
| Q1 2020 | -10.8% | -17.4% | +7.3% | |
| Q4 2019 | +0.6% | -7.9% | -35.1% | |
| Q3 2019 | -2.8% | -5.8% | -4.7% | |
| Q2 2019 | +0.6% | +1.0% | +10.5% | |
| Q1 2019 | +1.8% | +0.1% | +0.6% | |
| Q4 2018 | -1.4% | +0.2% | -0.0% | |
| Q3 2018 | -3.6% | +0.3% | +5.0% | |
| Q2 2018 | -2.2% | -1.2% | -2.9% | |
| Q1 2018 | -0.2% | +2.0% | +6.4% | |
| Q4 2017 | -0.4% | +1.1% | +2.7% | |
| Q3 2017 | +3.0% | +2.1% | +5.3% | |
| Q2 2017 | -5.7% | -3.3% | -2.3% | |
| Q1 2017 | -1.7% | +0.1% | +2.9% | |
| Q4 2016 | +1.2% | +3.1% | -1.0% | |
| Q3 2016 | -0.3% | +3.4% | +2.8% | |
| Q2 2016 | +3.7% | +4.5% | +5.1% | |
| Q1 2016 | -1.7% | — | — | |
| Q4 2015 | +5.3% | — | — | |
| Q3 2015 | -1.6% | — | — | |
| Q2 2015 | +0.3% | — | — | |
| Q1 2015 | -1.9% | — | — | |
| Q4 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro