National Storage Affiliates Trust Reports Fourth Quarter and Full Year 2020 Results – Business Wire

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA) today reported the Companys fourth quarter and full year 2020 results.

Fourth Quarter 2020 Highlights

Full Year 2020 Highlights

Highlights Subsequent to Quarter-End

Tamara Fischer, President and Chief Executive Officer, commented, "We closed out 2020 on a positive note with excellent operating results despite the continued economic stress resulting from the pandemic. Our fourth quarter same store revenues grew by 4.8% year-over-year and same store occupancy numbers remain at record levels. Our acquisition volume also accelerated during the fourth quarter with the addition of over a quarter of a billion dollars of self storage properties to our wholly-owned portfolio. These favorable trends continued into the first quarter, marking a strong start to 2021."

Financial Results

($ in thousands, except per share and unit data)

Three Months Ended December 31,

Year Ended December 31,

2020

2019

Growth

2020

2019

Growth

Net income

$

24,517

$

18,826

30.2

%

$

79,478

$

66,013

20.4

%

Funds From Operations ("FFO")(1)

$

46,184

$

36,218

27.5

%

$

166,911

$

139,151

19.9

%

Add back acquisition costs

743

534

39.1

%

2,424

1,317

84.1

%

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National Storage Affiliates Trust Reports Fourth Quarter and Full Year 2020 Results - Business Wire