National Storage: 3Q Earnings Snapshot
GREENWOOD VILLAGE, Colo. (AP) _ National Storage Affiliates (NSA) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Greenwood Village, Colorado, said it had funds from operations of $36.7 million, or 40 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 39 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 $12.1 million, or 20 cents per share.
The real estate investment trust posted revenue of $101.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $100.6 million.
National Storage expects full-year funds from operations in the range of $1.52 to $1.54 per share.
The company’s shares have climbed 31% since the beginning of the year. The stock has climbed 31% in the last 12 months.