GREENWOOD VILLAGE, Colo. - National Storage Affiliates Trust (NYSE: NYSE:NSA), a real estate investment trust specializing in self-storage properties, today announced the appointment of John Esbenshade as Chief Accounting Officer, effective January 1, 2025. Esbenshade’s promotion from Senior Vice President, Controller, is a step up within the company’s financial leadership team. According to InvestingPro data, NSA maintains a GOOD financial health score, with the company currently trading below its Fair Value, suggesting potential upside for investors.
David Cramer, President and Chief Executive Officer of National Storage Affiliates, remarked on Esbenshade’s advancement, highlighting his substantial impact on the company’s accounting team and his notable involvement in the internalization of the firm’s Participating Regional Operator (PRO) structure. Esbenshade brings a wealth of experience to his new role, having joined the company in March 2019 as Vice President, Controller, before being promoted to Senior Vice President, Controller in September 2022.
Before his tenure at National Storage Affiliates, Esbenshade served in various capacities at Prologis (NYSE:PLD), including Vice President of Technical Accounting and Strategic Capital, from 2014 to 2019. His earlier career was marked by a long stint at Deloitte, where he served as a Senior Manager in the audit practice. A certified public accountant, Esbenshade earned his academic credentials from the University of Colorado Boulder, holding both a Master of Science and a Bachelor of Science in Business Administration.
In the broader scope of industry events, National Storage Affiliates Trust is set to participate in the upcoming KeyBanc’s Self Storage Investment Forum on January 9, 2025, in New York City and will be present at Citi’s 2025 Global Property CEO Conference from March 3-5, 2025, in Hollywood, Florida.
National Storage Affiliates Trust, headquartered in Greenwood Village, Colorado, is one of the largest owners and operators of self-storage properties in the United States. As of September 30, 2024, the company held ownership interests in and operated 1,070 self-storage properties across 42 states and Puerto Rico. NSA is included in several notable indices, including the MSCI US REIT Index, the Russell 1000 Index of Companies, and the S&P MidCap 400 Index.
This announcement is based on a press release statement from National Storage Affiliates Trust.
In other recent news, National Storage Affiliates Trust, a self-storage REIT, reported a decrease in core Funds From Operations (FFO) per share and a drop in revenues for Q3. Despite these challenges, the company saw an increase in occupancy in Florida following Hurricane Milton and is progressing with the transition of PRO stores to NSA management. The company also declared Q4 dividends of $0.57 per common share and $0.375 per share for both its 6.000% Series A and Series B Cumulative Redeemable Preferred Shares.
In addition to the financial results, National Storage Affiliates disclosed two portfolio transactions totaling approximately $148 million and plans to sell properties worth $100 million to $200 million in the upcoming months. The company has also awarded special one-time grants of long-term incentive plan units (LTIP Units) to several of its executive officers, in recognition of their contributions to the company’s strategic transition.
These recent developments in National Storage Affiliates Trust are notable for investors. However, it’s important to note that analysts anticipate some sales decline in the current year, despite the company’s strong operational efficiency and gross profit margin of 74.28% in the last twelve months. The company remains optimistic about future performance due to internalization benefits and housing market recovery.
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