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National Storage Affiliates
NSA.US
National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self-storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of September 30, 2025, the Company held ownership interests in and operated 1,069 self-storage properties, located in 37 states and Puerto Rico with approximately 69.8 million rentable square feet. NSA is one of the largest owners and operators of self-storage properties among public and private companies in the United States.
1.412 T
NSA.USMarket value -Rank by Market Cap -/-

Financial Score

05/12/2025 Update
D
Equity Real Estate Investment Trusts (REITs)Industry
Industry Ranking122/164
Industry medianC
Industry averageC
Score Analysis
Peer Comparison
  • Criteria
    Rating
  • Profit ScoreB
    • ROE7.37%B
    • Profit Margin9.12%B
    • Gross Margin73.15%A
  • Growth ScoreD
    • Revenue YoY-5.77%D
    • Net Profit YoY-67.13%D
    • Total Assets YoY-4.59%D
    • Net Assets YoY-12.15%E
  • Cash ScoreC
    • Cash Flow Margin1573.80%B
    • OCF YoY-5.77%D
  • Operating ScoreE
    • Turnover0.14E
  • Debt ScoreD
    • Gearing Ratio69.23%D

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Institutional View & Shareholder

Analyst Ratings

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    News
    View More

    3rd Look at Local Housing Markets in October

    The Calculated Risk Real Estate Newsletter's October analysis reveals a 0.3% YoY decline in local housing market sales, contrasting with an 8.0% YoY increase in September. Mortgage rates averaged 6.59% in August and 6.35% in September. The year-over-year change in headline SA data will mirror NSA data due to identical working days in October 2025 and 2024. Further local market insights are forthcoming.

    Calculated Risk·
    US
    AOMR
    -1.35%
    US
    NSA
    -1.23%
    Calculated Risk·
    US
    AOMR
    -1.35%
    US
    NSA
    -1.23%

    Barclays Sticks to Their Hold Rating for National Storage Affiliates (NSA)

    Barclays analyst Brendan Lynch has maintained a Hold rating on National Storage Affiliates (NSA) with a price target of $36.00. Lynch, who has an average return of -3.8% and a 39.00% success rate, also covers other real estate stocks. Additionally, TR | OpenAI's Gavin Stockmere issued a Hold rating on NSA, while Evercore ISI maintained a Sell rating on November 4.

    Tip Ranks·
    US
    NSA
    -1.23%
    Tip Ranks·
    US
    NSA
    -1.23%

    What National Storage Affiliates Trust (NSA)'s New $350 Million Joint Venture Means for Shareholders

    National Storage Affiliates Trust (NSA) has announced a $350 million joint venture with Investment Real Estate Management, aiming to enhance its acquisition capacity in the self-storage sector. Despite reaffirming its 2025 earnings guidance, the partnership does not eliminate risks from declining occupancy and rising costs. NSA is projected to reach $801.6 million in revenue by 2028, with a fair value estimate of $33.77 per share, indicating a potential 10% upside. However, ongoing expense growth and market competition remain concerns for investors.

    Simplywall·
    US
    NSA
    -1.23%
    Simplywall·
    US
    NSA
    -1.23%

    National Storage Affiliates Trust’s Optimistic Earnings Call

    National Storage Affiliates Trust's earnings call revealed a cautiously optimistic outlook, with solid growth plans despite challenges like declining same-store revenue and rising expenses. The company reported a Core FFO per share of $0.57, exceeding estimates, and highlighted effective marketing strategies leading to increased web sessions and conversion rates. However, it faced a 2.6% decline in same-store revenues and a payout ratio over 100%. Future guidance suggests improvements in revenue growth and a favorable outlook for the self-storage sector by 2026, contingent on addressing current challenges.

    Tip Ranks·
    US
    NSA
    -1.23%
    Tip Ranks·
    US
    NSA
    -1.23%

    National Storage Affiliates | 10-Q: FY2025 Q3 Revenue: USD 188.7 M

    LB filings·
    US
    NSA
    -1.23%
    LB filings·
    US
    NSA
    -1.23%
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