Update 11/12/15 – NSAT has released its financial statement for the quarter that ended Sept. 30, 2015, showing gains in key areas including core funds from operations (FFO), net operating income (NOI) and occupancy.

The REIT reported core FFO per share of $0.24 during the third quarter, a 14 percent year-over-year increase. Its NOI was $23.7 million, an 80 percent gain compared to the $13.2 million it reported for the same period last year. Same-store NOI was $10 million, up 13.6 percent.

“We are pleased to report a solid quarter of results,” said Arlen Nordhagen, CEO. “The ongoing implementation of our best-practices programs by our participating regional operators is producing outcomes that continue to exceed our expectations, both in same-store results and in the pace of our acquisitions.”

Same-store revenue was $15.3 million, a 10 percent increase from a year ago, and driven by a gain of 250 basis points in average occupancy and a 7.3 percent bump in average annualized rental revenue per occupied square foot. Average occupancy was 90.4 percent as of Sept. 30, up from 87.9 percent last year.

The company acquired 15 self-storage properties during the quarter for $106 million. The facilities comprise about 1.1 million rentable square feet in approximately 8,200 units. Since the quarter ended, NSAT has acquired 15 additional properties for $68 million, adding 950,000 square feet and 7,400 units to its operating portfolio. The REIT now operates 276 facilities in 16 states, comprising about 15.7 million rentable square feet.

On Sept. 2, the company declared a quarterly dividend of $0.19 per common share, which was paid on Oct. 15 to holders of record on Sept. 30.

10/19/15 – National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, will reveal its earnings statement for the quarter that ended Sept. 30 after the market closes on Nov. 9. The company will conduct a conference call to review the financial results on Nov. 10 at 1 p.m. ET.

The call can be accessed at 877.407.9711 within the United States or 412.902.1014 internationally. Management will accept questions from registered financial analysts after prepared remarks. All others are encouraged to listen to the call via webcast from the investor-relations page at NationalStorageAffiliates.com. A replay of the webcast will be archived for 30 days.

A telephone replay will be available by calling 877.660.6853 in the United States or 201.612.7415 internationally. The conference ID number is 13613621.

Headquartered in Greenwood, Colo., NSAT is a self-administered, self-managed REIT focused on the acquisition, operation and ownership of self-storage properties within the top 100 U.S. metropolitan statistical areas throughout the United States The company has 275 self-storage facilities in 16 states comprising approximately 15.7 million net rentable square feet. It's owned by its affiliate operators, who are contributing their interests in their self-storage assets over the next few years as their current mortgage debt matures.

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