Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUE        
Rental revenue $ 64,715 $ 51,263 $ 182,713 $ 135,548
Other property-related revenue 2,145 1,686 6,071 4,334
Management fees and other revenue 1,998 0 5,978 0
Total revenue 68,858 52,949 194,762 139,882
OPERATING EXPENSES        
Property operating expenses 21,618 17,330 61,170 46,064
General and administrative expenses 7,480 5,259 22,066 14,431
Depreciation and amortization 18,463 14,319 54,946 38,299
Total operating expenses 47,561 36,908 138,182 98,794
Income from operations 21,297 16,041 56,580 41,088
OTHER (EXPENSE) INCOME        
Interest expense (9,157) (6,265) (24,788) (17,050)
Loss on early extinguishment of debt 0 0 0 (136)
Equity in losses of unconsolidated real estate venture (710) 0 (2,260) 0
Acquisition costs (139) (1,737) (450) (4,733)
Non-operating expense (9) (15) (75) (77)
Gain on sale of self storage properties 106 0 5,743 0
Other expense (9,909) (8,017) (21,830) (21,996)
Income before income taxes 11,388 8,024 34,750 19,092
Income tax expense (162) (80) (767) (301)
Net income 11,226 7,944 33,983 18,791
Net income attributable to noncontrolling interests (9,955) (7,955) (29,790) (9,222)
Net income (loss) attributable to National Storage Affiliates Trust $ 1,271 $ (11) $ 4,193 $ 9,569
Earnings (loss) per share - basic (in dollars per share) $ 0.03 $ 0.00 $ 0.09 $ 0.35
Earnings (loss) per share - diluted (in dollars per share) $ 0.03 $ 0.00 $ 0.09 $ 0.25
Weighted average shares outstanding - basic (in shares) 44,269 35,080 43,967 27,084
Weighted average shares outstanding - diluted (in shares) 44,269 35,080 43,967 75,492
Dividends declared per common share (in dollars per share) $ 0.26 $ 0.22 $ 0.76 $ 0.64