National Storage Affiliates Trust Lowers FY24 EPS From $1.31-$1.48 To $1.10-$1.17 Vs $1.40 Est.; FY24 Core FFO From $2.40-$2.56 To $2.36-$2.44 Per Share

Author: Benzinga Newsdesk | August 05, 2024 05:04pm

		Current Ranges for Full Year 2024								Prior Ranges for Full Year 2024
		Low				High				Low				High
Earnings per share - diluted		$	1.10			$	1.17			$	1.31			$	1.48
Impact of the difference in weighted average number of shares and GAAP accounting for noncontrolling interests, two-class method and treasury stock method			0.18				0.11				0.05				(0.01	)
Add real estate depreciation and amortization			1.45				1.49				1.57				1.66
Add (subtract) equity in losses (earnings) of unconsolidated real estate ventures			0.11				0.13				0.11				0.09
Add NSA's share of FFO of unconsolidated real estate ventures			0.17				0.19				0.20				0.22
FFO attributable to subordinated unitholders			(0.17	)			(0.17	)			(0.34	)			(0.38	)
Less gain on sale of self storage properties			(0.50	)			(0.50	)			(0.51	)			(0.51	)
Add integration and executive severance costs			0.01				0.01				—				—
Add acquisition costs and NSA's share of unconsolidated real estate venture acquisition costs			0.01				0.01				0.01				0.01
Core FFO per share and unit		$	2.36			$	2.44			$	2.40			$	2.56

(1)		The table above provides a reconciliation of the range of estimated earnings per share - diluted to estimated Core FFO per share and unit.
(2)		2024 guidance reflects NSA's 2024 same store pool comprising 776 stores. 2023 actual results reflect NSA's 2023 same store pool comprising 724 stores.

Posted In: NSA