National Storage reports Q4 FFO 71c, consensus 71c

Reports Q4 revenue $208.7M, consensus $196.6M. In Q4, the company reported an increase in same store net operating income of 9.4% for the fourth quarter of 2022 compared to the same period in 2021, driven by a 7.4% increase in same store total revenues partially offset by an increase of 1.6% in same store property operating expenses. Also reported same store period-end occupancy of 90.5% as of December 31, 2022, a decrease of 450 basis points compared to December 31, 2021.