Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
REVENUE      
Rental revenue $ 394,660 $ 354,859 $ 308,403
Total revenue 432,222 387,896 330,896
OPERATING EXPENSES      
Property operating expenses 123,486 110,347 103,875
General and administrative expenses 43,640 44,030 35,924
Depreciation and amortization 117,174 105,119 89,147
Other 808 1,551 296
Total operating expenses 285,108 261,047 229,242
OTHER (EXPENSE) INCOME      
Interest expense (62,595) (56,464) (42,724)
Equity in earnings (losses) of unconsolidated real estate ventures 265 (4,970) (1,423)
Acquisition costs (2,424) (1,317) (663)
Non-operating (expense) income (1,211) 452 (91)
Gain on sale of self storage properties 0 2,814 391
Other expense (65,965) (59,485) (44,510)
Income before income taxes 81,149 67,364 57,144
Income tax expense (1,671) (1,351) (818)
Net income 79,478 66,013 56,326
Net income attributable to noncontrolling interests (30,869) (62,030) (42,217)
Net income attributable to National Storage Affiliates Trust 48,609 3,983 14,109
Distributions to preferred shareholders (13,097) (12,390) (10,350)
Net income (loss) attributable to common shareholders $ 35,512 $ (8,407) $ 3,759
EARNINGS PER SHARE      
Earnings (loss) per share - basic and diluted (in dollars per share) $ 0.53 $ (0.15) $ 0.07
Weighted average shares outstanding - basic (in shares) 66,547 58,208 53,293
Weighted average shares outstanding - diluted (in shares) 66,607 58,208 53,293
Other property-related revenue      
REVENUE      
Revenue $ 14,524 $ 12,302 $ 10,183
Management fees and other revenue      
REVENUE      
Revenue $ 23,038 $ 20,735 $ 12,310