National Storage: 2Q Earnings Snapshot
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GREENWOOD VILLAGE, Colo. (AP) _ National Storage Affiliates (NSA) on Monday reported a key measure of profitability in its second quarter. The results met Wall Street expectations.
The Greenwood Village, Colorado-based real estate investment trust said it had funds from operations of $27.6 million, or 34 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 34 cents per share.
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Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $3.3 million, or 7 cents per share.
The real estate investment trust posted revenue of $79.7 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $80.3 million.
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The company's shares have increased roughly 7 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $29.08, an increase of 31 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on NSA at https://www.zacks.com/ap/NSA