National Storage reports Q1 core FFO 66c, consensus 70c

Reports Q1 revenue $208M, consensus $210.83M. David Cramer, President and CEO, commented, "We began the year with a solid quarter of operating results. We continue to moderate from the record setting levels of 2022, delivering same store revenue growth of 5.7% which is still above the long-term historical sector average. The slowing economy and a muted housing market will continue to apply pressure to demand levels. Our teams did a good job navigating the changing economic environment and remain focused on executing strategies to capture new customers as we progress through the spring leasing season. Operating trends over the next couple months will be key to performance for the full year."