---
title: "National Storage Affiliates: Hold Rating Reiterated, $41 Price Target Maintained Amid Merger-Related Uncertainty"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285314892.md"
description: "BMO Capital's Juan C. Sanabria reiterated a Hold rating on National Storage Affiliates, maintaining a $41 price target amid merger-related uncertainty. The company reported better-than-expected Q1 results, with core FFO exceeding estimates, but modest revenue growth and pressure on move-in rates. Management withdrew forward guidance and canceled the earnings call due to the upcoming merger with Public Storage, leading to a balanced risk-reward profile."
datetime: "2026-05-06T04:45:40.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285314892.md)
  - [en](https://longbridge.com/en/news/285314892.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285314892.md)
---

# National Storage Affiliates: Hold Rating Reiterated, $41 Price Target Maintained Amid Merger-Related Uncertainty

In a report released today, Juan C. Sanabria from BMO Capital maintained a Hold rating on National Storage Affiliates, with a price target of $41.00.

### Claim 55% Off TipRanks

-   Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
-   Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks

Juan C. Sanabria has given his Hold rating due to a combination of factors tied to National Storage Affiliates’ recent performance and its pending merger. The company delivered a better-than-expected first quarter, with core FFO surpassing consensus estimates and same-store NOI outperforming Street expectations, driven largely by lower operating expenses.

However, revenue growth was modest, with same-store revenue only slightly higher year over year and move-in rates under pressure despite improving occupancy. With the proposed merger with Public Storage approaching, management withdrew forward guidance and canceled the earnings call, which limits visibility and leaves the risk‑reward profile balanced. As a result, Sanabria maintained a neutral stance and kept his $41 price target unchanged.

### Related Stocks

- [NSA.US](https://longbridge.com/en/quote/NSA.US.md)
- [PSA.US](https://longbridge.com/en/quote/PSA.US.md)
- [RWO.US](https://longbridge.com/en/quote/RWO.US.md)
- [REZ.US](https://longbridge.com/en/quote/REZ.US.md)
- [XLRE.US](https://longbridge.com/en/quote/XLRE.US.md)
- [REET.US](https://longbridge.com/en/quote/REET.US.md)
- [VNQ.US](https://longbridge.com/en/quote/VNQ.US.md)
- [SCHH.US](https://longbridge.com/en/quote/SCHH.US.md)
- [IYR.US](https://longbridge.com/en/quote/IYR.US.md)
- [RWR.US](https://longbridge.com/en/quote/RWR.US.md)
- [PSA-H.US](https://longbridge.com/en/quote/PSA-H.US.md)
- [PSA-I.US](https://longbridge.com/en/quote/PSA-I.US.md)
- [PSA-N.US](https://longbridge.com/en/quote/PSA-N.US.md)
- [PSA-Q.US](https://longbridge.com/en/quote/PSA-Q.US.md)
- [PSA-K.US](https://longbridge.com/en/quote/PSA-K.US.md)
- [PSA-P.US](https://longbridge.com/en/quote/PSA-P.US.md)
- [PSA-S.US](https://longbridge.com/en/quote/PSA-S.US.md)
- [PSA-J.US](https://longbridge.com/en/quote/PSA-J.US.md)
- [PSA-R.US](https://longbridge.com/en/quote/PSA-R.US.md)
- [PSA-F.US](https://longbridge.com/en/quote/PSA-F.US.md)
- [PSA-O.US](https://longbridge.com/en/quote/PSA-O.US.md)
- [PSA-M.US](https://longbridge.com/en/quote/PSA-M.US.md)
- [PSA-G.US](https://longbridge.com/en/quote/PSA-G.US.md)
- [PSA-L.US](https://longbridge.com/en/quote/PSA-L.US.md)

## Related News & Research

- [PSA Preferreds: The Coupon Survives. The Exit Doesn't.](https://longbridge.com/en/news/286437648.md)
- [New York Life Investment Management LLC Boosts Holdings in Healthpeak Properties, Inc. $DOC](https://longbridge.com/en/news/286882864.md)
- [Regency Centers Updates Investor Presentation for Conferences](https://longbridge.com/en/news/286800935.md)
- [Barr E S & Co. Has $42.07 Million Stock Position in Brookfield Corporation $BN](https://longbridge.com/en/news/286666477.md)
- [Hong Kong stars Nick Cheung and William Chan join wave of upmarket home sales](https://longbridge.com/en/news/286873125.md)