Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE (Tables)

v3.23.1
EARNINGS PER SHARE (Tables)
3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Schedule of the Computation of Basic and Diluted Earnings Per Common Share
The following table sets forth the computation of basic and diluted earnings per common share for the three months ended March 31, 2023 and 2022 (in thousands, except per share amounts):
Three Months Ended
March 31,
2023 2022
Earnings per common share - basic and diluted
Numerator
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)
Distributed and undistributed earnings allocated to participating securities
(17) (14)
Net income attributable to common shareholders - basic
24,980  21,935 
Effect of assumed conversion of dilutive securities
11,305  — 
Net income attributable to common shareholders - diluted
$ 36,285  $ 21,935 
Denominator
Weighted average shares outstanding - basic
89,499  91,323 
Effect of dilutive securities:
Weighted average OP units outstanding
38,736  — 
Weighted average DownREIT OP unit equivalents outstanding
2,120  — 
Weighted average LTIP units outstanding
76  — 
Weighted average subordinated performance units and DownREIT subordinated performance unit equivalents
18,191  — 
Weighted average shares outstanding - diluted
148,622  91,323 
Earnings per share - basic $ 0.28  $ 0.24 
Earnings per share - diluted $ 0.24  $ 0.24