National Storage: 2Q Earnings Snapshot
GREENWOOD VILLAGE, Colo. (AP) _ National Storage Affiliates (NSA) on Thursday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Greenwood Village, Colorado, said it had funds from operations of $34.3 million, or 38 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 38 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $10.9 million, or 19 cents per share.
The real estate investment trust posted revenue of $95.4 million in the period.
National Storage expects full-year funds from operations in the range of $1.51 to $1.54 per share.
The company’s shares have risen 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $30.65, an increase of 7% in the last 12 months.