NSA Earnings Prediction
The chart below shows how NSA performed 10 days before and after its earnings report, based on data from the past quarters. Typically, NSA sees a +3.88% change in stock price 10 days leading up to the earnings, and a -0.07% change 10 days following the report. On the earnings day itself, the stock moves by -0.15%. This data can give you a slight idea of what to expect for the next quarter's release.
NSA Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
193.62M
-11.65%
1.67%
Gross Margin
--
--
--
Operating Margin
39.51%
1.28%
4.55%
Net Margin
15.38%
-21.73%
-9.26%
EPS
0.18
-30.77%
12.50%
No Data Available
NSA Earnings Analysis
National Storage Affiliates Trust Corporation (NSA.N) Earnings Conference Call
Positive
Occupancy Recovery Surge: 1. Occupancy Increase Post-Hurricanes: Following Hurricane Milton, occupancy in the West Coast of Florida increased by approximately 600 basis points in the Tampa and Sarasota-Bradenton areas, indicating strong demand recovery.
Portfolio Enhancement Through Acquisitions: 2. Successful Acquisitions: The company successfully closed on two portfolio transactions totaling approximately $148 million, enhancing overall portfolio quality and operational efficiencies in established markets.
Debt Retirement Strategy: 3. Strong Cash Position: National Storage Affiliates issued $350 million in private placement notes with a favorable weighted average coupon of 5.6%, allowing for the retirement of $470 million in debt during the third quarter.
Internalization Progress Update: 4. Progress in Internalization of PRO Structure: The transition of PRO stores to NSA management is approximately 85% complete, with expectations to achieve previously highlighted accretion levels, indicating operational improvements ahead.
Customer Base Stability: 5. Healthy Customer Base: The existing customer base remains robust, with payment activity and length of stay within expectations, supporting future revenue stability despite current pricing pressures.
Negative
Core FFO Decline: 1. Declining Core FFO: Core FFO per share decreased by 7.5% year-over-year to $0.62, primarily due to a decline in same-store NOI.
Revenue Decrease Analysis: 2. Revenue Decline: Revenues fell by 3.5% on a same-store basis, driven by a 290 basis point year-over-year decline in average occupancy and a 90 basis point drop in rent revenue per square foot.
Occupancy Level Decline: 3. Occupancy Challenges: Average occupancy in October is expected to be down approximately 200 basis points year-over-year, indicating ongoing challenges in maintaining occupancy levels.
Negative NOI Guidance: 4. Negative Same-Store NOI Growth: The company reaffirmed guidance for same-store NOI growth of negative 5.5% for 2024, reflecting continued operational difficulties.
Street Rate Decline Trends: 5. Increased Street Rate Declines: Street rates were down 20% year-over-year in October, with expectations for further declines as the company seeks to improve occupancy.
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NSA Earning Call Sentiment
National Storage Affiliates Trust (NSA) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
NSA.N
0.29%Positive
The earnings call highlights several concerning factors: a decline in revenue and occupancy rates, a competitive market environment, and a sequential drop in FFO guidance. Despite some operational efficiencies and debt management, the lack of a share repurchase program and unclear management responses in the Q&A section further dampen sentiment. The market cap suggests moderate volatility, leading to a prediction of a negative stock price movement of -2% to -8% over the next two weeks.
