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, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUE      
Rental revenue $ 354,859 $ 308,403 $ 251,814
Total revenue 387,896 330,896 268,130
OPERATING EXPENSES      
Property operating expenses 110,347 103,875 84,455
General and administrative expenses 45,581 36,220 30,060
Depreciation and amortization 105,119 89,147 75,115
Total operating expenses 261,047 229,242 189,630
OTHER (EXPENSE) INCOME      
Interest expense (56,464) (42,724) (34,068)
Equity in losses of unconsolidated real estate ventures (4,970) (1,423) (2,339)
Acquisition costs (1,317) (663) (593)
Non-operating income (expense) 452 (91) (58)
Gain on sale of self storage properties 2,814 391 5,715
Other expense (59,485) (44,510) (31,343)
Income before income taxes 67,364 57,144 47,157
Income tax expense (1,351) (818) (1,159)
Net income 66,013 56,326 45,998
Net income attributable to noncontrolling interests (62,030) (42,217) (43,037)
Net income attributable to National Storage Affiliates Trust 3,983 14,109 2,961
Distributions to preferred shareholders (12,390) (10,350) (2,300)
Net (loss) income attributable to common shareholders $ (8,407) $ 3,759 $ 661
EARNINGS PER SHARE      
Earnings (loss) per share - basic and diluted (in dollars per share) $ (0.15) $ 0.07 $ 0.01
Weighted average shares outstanding - basic and diluted (in shares) 58,208 53,293 44,423
Other property-related revenue      
REVENUE      
Revenue $ 12,302 $ 10,183 $ 8,255
Management fees and other revenue      
REVENUE      
Revenue $ 20,735 $ 12,310 $ 8,061