National Storage Affiliates Trust Provides Earnings Guidance for the Quarter and Six Months Ended June 30, 2021
July 20, 2021 at 05:29 pm EDT
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National Storage Affiliates Trust provided earnings guidance for the quarter and six months ended June 30, 2021. Based on the Company's preliminary estimates for the quarter ended June 30, 2021, management expects to report as of or for three months ended June 30, 2021: total revenue between $137.5 million and $138.5 million for the quarter ended June 30, 2021; net operating income (“NOI”) between $95.0 and $96.0 million for the quarter ended June 30, 2021; same store revenue between $106.6 million and $107.6 million for the quarter ended June 30, 2021, or an increase of 15.5% to 16.5% when compared to the same period in 2020. Same store NOI between $77.9 million and $78.9 million for the quarter ended June 30, 2021, or an increase of 20.5% to 22.0% when compared to the same period in 2020.
Based on these preliminary estimates for the three months ended June 30, 2021, management expects to report, for the six-month period ended June 30, 2021: same store revenue between $208.1 million and $209.1 million, or an increase of 11.8% to 12.3% when compared to the same period in 2020; and same store NOI between $150.6 million and $151.6 million, or an increase of 16.0% to 16.7% when compared to the same period in 2020.
National Storage Affiliates Trust is an integrated, self-administered, and self-managed real estate investment trust. The Company is focused on the ownership, operation and acquisition of self-storage properties located within various metropolitan statistical areas across the United States. The Company owns approximately 1,050 self-storage properties, located in 42 states and Puerto Rico, comprising approximately 68.6 million rentable square feet in approximately 5,42,000 storage units. The properties are managed with a local operational focus of the Company and its participating regional operators (PROs). The Company also managed through its property management platform an additional portfolio of 185 properties owned by the Company's unconsolidated real estate ventures. These properties contain approximately 51.9 million rentable square feet, in approximately 4,07,000 storage units. The Companyâs operating partnership subsidiary is NSA OP, LP.