NYSE$NSA
National Storage Affiliates Trust · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Reported fourth quarter and full year results, demonstrating substantial growth and strategic advancements.
National Storage Affiliates Trust reported a strong fourth quarter and full year 2021, marked by significant increases in net income, core FFO per share, and same-store NOI. The company expanded its portfolio through strategic acquisitions and successfully internalized one of its largest participating regional operators.
- Net income for Q4 2021 increased by 75.0% compared to Q4 2020, reaching $42.9 million.
- Core FFO per share for Q4 2021 increased by 39.1% compared to Q4 2020, reaching $0.64 per share.
- Same store NOI increased by 21.7% for Q4 2021 compared to the same period in 2020.
- Acquired 110 wholly-owned self storage properties for over $1.1 billion during the fourth quarter of 2021.
Headline financials
Revenue & EPS history
NSA · Revenue · Quarterly
$174M
Revenue by segment
NSA · $174M total across 3 segments · Q4 2021
- Rental Revenue$162M+55.1%93.1%
- Management Fees and Other$6.26M+4.4%3.6%
- Other Property-Related$5.64M+46.5%3.3%
Forward guidance
NSA provided guidance for the full year 2022, including estimates for Core FFO per share, same store total revenue growth, property operating expenses growth and NOI growth.
Tailwinds
- Core FFO per share is projected to be between $2.68 and $2.74.
- Same store total revenue growth is expected to be between 8.0% and 9.5%.
- Property operating expenses growth is anticipated to be between 5.25% and 6.5%.
- NOI growth is projected to be between 9.0% and 11.0%.
- Management fees and other revenue are expected to be between $26.0 million and $28.0 million.
Headwinds
- General and administrative expenses (excluding equity-based compensation) are estimated to be between $51.0 million and $53.0 million.
- Equity-based compensation is expected to be between $6.5 million and $7.0 million.
- Core FFO from unconsolidated real estate ventures is projected to be between $22.0 million and $23.0 million.
- Subordinated performance unit distributions are estimated to be between $52.0 million and $55.0 million.
- Acquisitions of self storage properties are projected to be between $400.0 million and $600.0 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 Q4 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 | — | — | — |
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