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 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUE        
Rental revenue $ 60,154 $ 45,784 $ 117,998 $ 84,285
Other property-related revenue 2,045 1,500 3,926 2,648
Management fees and other revenue 2,142 0 3,980 0
Total revenue 64,341 47,284 125,904 86,933
OPERATING EXPENSES        
Property operating expenses 19,803 15,457 39,552 28,734
General and administrative expenses 7,405 4,837 14,586 9,172
Depreciation and amortization 17,800 13,088 36,483 23,980
Total operating expenses 45,008 33,382 90,621 61,886
Income from operations 19,333 13,902 35,283 25,047
OTHER (EXPENSE) INCOME        
Interest expense (8,160) (5,844) (15,631) (10,785)
Loss on early extinguishment of debt 0 (136) 0 (136)
Equity in losses of unconsolidated real estate venture (765) 0 (1,550) 0
Acquisition costs (167) (1,708) (311) (2,996)
Non-operating expense (14) (57) (66) (62)
Gain on sale of self storage properties 5,637 0 5,637 0
Other expense (3,469) (7,745) (11,921) (13,979)
Income before income taxes 15,864 6,157 23,362 11,068
Income tax expense (288) (112) (605) (221)
Net income 15,576 6,045 22,757 10,847
Net (income) loss attributable to noncontrolling interests (13,209) 1,325 (19,835) (1,267)
Net income attributable to National Storage Affiliates Trust $ 2,367 $ 7,370 $ 2,922 $ 9,580
Earnings (loss) per share - basic (in dollars per share) $ 0.05 $ 0.32 $ 0.07 $ 0.42
Earnings (loss) per share - diluted (in dollars per share) $ 0.05 $ 0.08 $ 0.07 $ 0.15
Weighted average shares outstanding - basic (in shares) 44,223 23,078 43,814 23,041
Weighted average shares outstanding - diluted (in shares) 44,223 73,531 43,814 70,763
Dividends declared per common share (in dollars per share) $ 0.26 $ 0.22 $ 0.50 $ 0.42