Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUE    
Rental revenue $ 194,129 $ 174,469
Total revenue 207,993 187,184
OPERATING EXPENSES    
Property operating expenses 56,483 49,358
General and administrative expenses 14,821 13,966
Depreciation and amortization 55,458 58,072
Other 1,173 470
Total operating expenses 127,935 121,866
OTHER (EXPENSE) INCOME    
Interest expense (37,948) (22,647)
Loss on early extinguishment of debt (758) 0
Equity in earnings of unconsolidated real estate ventures 1,678 1,494
Acquisition costs (844) (553)
Non-operating expense (598) (112)
Gain on sale of self storage properties 0 2,134
Other expense (38,470) (19,684)
Income before income taxes 41,588 45,634
Income tax expense (1,196) (848)
Net income 40,392 44,786
Net income attributable to noncontrolling interests (11,433) (19,558)
Net income attributable to National Storage Affiliates Trust 28,959 25,228
Distributions to preferred shareholders (3,962) (3,279)
Net income attributable to common shareholders $ 24,997 $ 21,949
Earnings (loss) per common share - basic and diluted    
Earnings (loss) per share - basic (in dollars per share) $ 0.28 $ 0.24
Earnings (loss) per share - diluted (in dollars per share) $ 0.24 $ 0.24
Weighted average shares outstanding - basic (in shares) 89,499 91,323
Weighted average shares outstanding - diluted (in shares) 148,622 91,323
Dividends declared per common share (in dollars per share) $ 0.55 $ 0.50
Other property-related revenue    
REVENUE    
Revenue $ 6,807 $ 6,166
Management fees and other revenue    
REVENUE    
Revenue $ 7,057 $ 6,549