NSA

BEARISH

$42.56 Live

National Storage Affiliates Trust · NYSE

Target $38.59 (-9.3%)

$27.43 52W Range $44.02

NSA National Storage Affiliates Trust - Fundamental Analysis

BEARISH

Console Chart News

NSA Stock | Fundamental Analysis & Investment Insights

NYSE • Real Estate • REIT - Industrial

Current Price Live

$42.56

Analyst Target

$38.59

-9.3% Downside

52W High

$44.02

52W Low

$27.43

Overview AI Snowflake Price Valuation Profitability Growth Health Statements Peers Insiders SEC Filings

At a glance

Key valuation, profitability, growth, and risk metrics.

Updated May 01, 2026

Market cap

$6.26B

P/E

61.68

ROE

7.1%

Profit margin

9.9%

Debt/Equity

1.27

Dividend yield

5.36%

AI Analysis

AI-powered fundamental assessment

Confidence

85%

NSA presents a high-risk profile characterized by a stable but mediocre Piotroski F-Score of 4/9 and a severe valuation disconnect. The stock is trading at $42.56, which is nearly 4x its Graham Number ($11.04) and double its Intrinsic Value ($20.35). Most critically, the dividend payout ratio of 330.43% indicates that the current yield is fundamentally unsustainable. While YoY growth metrics are strong, the combination of extreme valuation multiples and dangerously low liquidity (Current Ratio 0.16) outweighs the growth narrative.

Key Strengths

Strong YoY Revenue Growth of 18.00%

Exceptional YoY Earnings Growth of 236.60%

High Gross Margins (75.92%) and Operating Margins (35.80%)

Consistent recent earnings beats (3 of last 4 quarters)

Diversified portfolio of 1,063 properties across 37 states

Key Risks

Unsustainable Dividend Payout Ratio (330.43%)

Extreme Valuation (Forward P/E of 112.87)

Severe Liquidity Risk (Current Ratio 0.16, Quick Ratio 0.10)

Significant premium to Intrinsic Value ($42.56 vs $20.35)

Environmental and regulatory liabilities (CERCLA and ADA compliance)

AI Fair Value Estimate

Based on comprehensive analysis

$21.5

-49.5% below current price

Performance Snowflake

Multi-dimensional analysis across 5 key categories

Overall

Weak

Value

Future

Past

Health

Dividend

AI Verdict

Overvalued / High Risk

Key drivers: Dividend sustainability, Valuation multiples, Liquidity ratios

Confidence

90%

Value

15/100

Trading significantly above Graham Number ($11.04) and Intrinsic Value ($20.35).

Positives

No standout positives identified.

Watchpoints

P/E 61.68
Forward P/E 112.87
Price/Book 5.42

Future

65/100

Growth is impressive but already priced in at an extreme premium.

Positives

Strong YoY earnings growth
Revenue growth of 18%

Watchpoints

Slight Q/Q revenue decline (-1.62%)

Past

55/100

Recent recovery is strong, but historical volatility remains.

Positives

Strong 6-month price performance (+52.1%)
Recent trend of earnings surprises

Watchpoints

History of significant earnings misses between 2021-2023

Health

35/100

Stable health score but critical lack of short-term liquidity.

Positives

Piotroski F-Score 4/9 (Stable)

Watchpoints

Current Ratio 0.16
Quick Ratio 0.10

Dividend

10/100

Dividend is not covered by earnings, suggesting a high probability of a cut.

Positives

Attractive 5.36% yield

Watchpoints

Payout ratio of 330.43% is a major red flag

Stock Price & Analyst Targets

Real-time price movements and analyst price targets

Current Price

$42.56

Analyst Target

$38.59

Upside/Downside

-9.3%

Multi-Horizon Performance vs Peers

Price momentum across 5Y → 1W horizons for NSA and closest competitors.

Updated 2026-04-30

Company	5Y	3Y	1Y	6M	1M	1W
NSA National Storage Affiliates Trust Primary	+24.4%	+34.8%	+23.1%	+52.1%	+12.8%	-2.4%
HR Healthcare Realty Trust Incorporated Peer	+2.5%	+14.9%	+25.0%	+1.1%	+9.1%	-0.9%
MAC The Macerich Company Peer	+98.4%	+142.6%	+54.4%	+31.5%	+18.0%	+2.9%
COMP Compass, Inc. Peer	-56.4%	+204.3%	+6.7%	-2.2%	-0.9%	-3.6%
FSV FirstService Corporation Peer	-4.5%	+5.8%	-12.7%	-20.5%	-2.3%	+4.3%

NSA

National Storage Affiliates Trust

Primary

+24.4%

+34.8%

+23.1%

+52.1%

+12.8%

-2.4%

Healthcare Realty Trust Incorporated

Peer

+2.5%

+14.9%

+25.0%

+1.1%

+9.1%

-0.9%

MAC

The Macerich Company

Peer

+98.4%

+142.6%

+54.4%

+31.5%

+18.0%

+2.9%

COM

Compass, Inc.

Peer

-56.4%

+204.3%

+6.7%

-2.2%

-0.9%

-3.6%

FSV

FirstService Corporation

Peer

-4.5%

+5.8%

-12.7%

-20.5%

-2.3%

+4.3%

Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.

Historical Performance Trends

Long-term financial metrics and growth patterns

Revenue & Net Income

Profit & Operating Margins

Return on Equity (ROE)

Quarterly Revenue Growth

Historical data shows last 12 quarters (3 years)

Valuation Metrics

Key valuation ratios and pricing indicators

61.68

112.87

1.66

5.42

8.39

8.03

13.19

$6.26B

Profitability

Profit margins and return metrics

Profit Margin 9.9%

Operating Margin 35.8%

Gross Margin 75.92%

ROE 7.05%

ROA 3.17%

Growth

Revenue and earnings growth rates

Revenue Growth +18.0%

Earnings Growth +236.6%

Q/Q Revenue Growth -1.62%

Q/Q Earnings Growth +213.4%

Financial Health

Balance sheet strength and liquidity metrics

Debt/Equity

1.27

Moderate

Current Ratio

0.16

Weak

Quick Ratio

0.1

Poor

Cash/Share

$0.25

Financial Statement Flow

Interactive flow visualization showing how money moves through the company Q4 2025

Revenue

$0.2B

Gross Margin

72.5%

Op. Margin

38.5%

Net Margin

12.2%

Total Assets

$5.1B

Liabilities

$3.5B

Equity

$0.9B

Debt/Equity

3.75x

Operating CF

$0.1B

CapEx

$-0.0B

Free Cash Flow

$0.1B

FCF Yield

80%

Quarterly Earnings History

EPS performance vs analyst estimates

2026-05-05

$N/A

2026-02-25

$0.17

+63.8% surprise

2025-11-03

$0.18

+31.0% surprise

2025-08-04

$0.19

+18.8% surprise

Real Estate Sector Comparison

Comparing NSA against 214 companies in the Real Estate sector (10 bullish, 43 neutral, 161 bearish)

P/E Ratio

61.68

This Stock

39.97

Sector Avg

+54.3% (Expensive)

Return on Equity (ROE)

7.05%

This Stock

-27.06%

Sector Avg

-126.1% (Below Avg)

Profit Margin

9.9%

This Stock

10.56%

Sector Avg

-6.3% (Weaker)

Debt to Equity

1.27

This Stock

2.42

Sector Avg

-47.6% (Less Debt)

Revenue Growth

18.0%

This Stock

13183.06%

Sector Avg

-99.9% (Slower)

Current Ratio

0.16

This Stock

8.25

Sector Avg

-98.1% (Weaker)

Similar Companies

Peer comparison within the same industry

Company	AI Rating	Market Cap	P/E	ROE	Profit Margin	Price
NSA National Storage Affiliates Trust	BEARISH	$6.26B	61.68	7.1%	9.9%	$42.56
HR Healthcare Realty Trust...	BEARISH	$6.37B	-	-5.0%	-20.8%	$18.38	Compare
MAC The Macerich Company	BEARISH	$5.93B	-	-7.5%	-18.9%	$21.82	Compare
COMP Compass, Inc.	BEARISH	$5.86B	-	-9.8%	-0.8%	$7.85	Compare
FSV FirstService Corporation	NEUTRAL	$6.7B	45.97	10.9%	2.6%	$145.74	Compare

NSA National Storage...

BEARISH

Mkt Cap

$6.3B

P/E

61.7

ROE

7.1%

Price

$42.56

Compare with NSA

MAC The Macerich Company

Compare with NSA

Compare with NSA

Compare with NSA

Recent Insider Trading

Insider buy and sell transactions from the last 6 months

Date	Insider	Position	Transaction	Shares	Value
2026-02-27	FISCHER TAMARA D.	Officer and Director	Option Exercise	21,827	$764,382
2026-02-27	NORDHAGEN ARLEN DALE	Officer and Director	Option Exercise	6,289	$220,241
2026-02-27	TOGASHI BRANDON S	Chief Financial Officer	Option Exercise	11,382	$398,598
2026-02-27	CRAMER DAVID	Chief Executive Officer	Option Exercise	22,606	$791,662
2026-02-27	KENYON TIFFANY S	Officer	Option Exercise	3,403	$119,173
2026-02-27	COWAN WILLIAM S JR.	Officer	Option Exercise	7,074	$247,731
2026-02-27	ESBENSHADE JOHN	Officer	Option Exercise	2,294	$80,336

FISCHER TAMARA D.

Officer and Director

Option Exercise

2026-02-27

21,827 shares · $764,382

NORDHAGEN ARLEN DALE

Officer and Director

Option Exercise

2026-02-27

6,289 shares · $220,241

TOGASHI BRANDON S

Chief Financial Officer

Option Exercise

2026-02-27

11,382 shares · $398,598

CRAMER DAVID

Chief Executive Officer

Option Exercise

2026-02-27

22,606 shares · $791,662

KENYON TIFFANY S

Officer

Option Exercise

2026-02-27

3,403 shares · $119,173

COWAN WILLIAM S JR.

Officer

Option Exercise

2026-02-27

7,074 shares · $247,731

ESBENSHADE JOHN

Officer

Option Exercise

2026-02-27

2,294 shares · $80,336

Insider transactions can signal confidence or concerns about company prospects

SEC Filings

Recent regulatory filings from the SEC EDGAR database

8-K

FORM 8-K

2026-03-17

8-K

FORM 8-K

2026-03-16

NSA filed a Form 8-K on March 16, 2026, likely to announce its annual financial results for the preceding fiscal year.

10-K

2026-02-26

National Storage Affiliates Trust is a self-managed REIT operating a diversified portfolio of 1,063 self-storage properties across 37 states and Puerto Rico, totaling approximately 69.4 million rentable square feet as of December 31, 2025. Key risks include potential unanticipated expenses for ADA compliance and strict environmental liabilities under CERCLA for the remediation of hazardous substances on its properties. Additionally, the company is subject to complex state insurance laws and federal privacy regulations.

8-K

2026-02-25

NSA likely announced its financial results for the most recent fiscal period.

10-Q

2025-11-04

NSA filed its 10-Q on November 4, 2025. While specific financial highlights were not provided in the excerpt, the filing includes a dedicated section for Risk Factors under Item 1A.

8-K

2025-11-03

NSA announced its quarterly financial results for the period ending September 30, 2025.

10-Q

2025-08-05

NSA filed its 10-Q on August 5, 2025, though specific financial highlights were not provided in the available excerpt. The filing includes a dedicated section for Risk Factors under Item 1A.

8-K

2025-08-04

NSA filed an 8-K on August 4, 2025, likely to announce its second-quarter financial results.

8-K

2025-05-15

10-Q

2025-05-06

NSA filed its 10-Q on May 6, 2025. While the filing includes a section dedicated to Risk Factors under Item 1A, no specific financial highlights or detailed risk descriptions were provided in the available excerpt.

8-K

2025-05-05

DEF 14A

2025-03-28

10-K

2025-02-27

8-K

2025-02-26

8-K

2025-02-13

Data sourced from SEC EDGAR. AI summaries generated automatically.

Wall Street Analysts

Professional analyst ratings and price targets

Consensus

HOLD

11 analysts

Barclays

2026-04-20

Maintains

Equal-Weight Equal-Weight

Evercore ISI Group

2026-03-17

Underperform In-Line

Barclays

2026-03-05

Maintains

Equal-Weight Equal-Weight

Evercore ISI Group

2026-02-27

Maintains

Underperform Underperform

Wells Fargo

2026-02-05

Maintains

Underweight Underweight

Wolfe Research

2026-01-26

Underperform Peer Perform

Truist Securities

2026-01-20

Maintains

Hold Hold

Mizuho

2026-01-12

Maintains

Neutral Neutral

UBS

2026-01-08

Maintains

Neutral Neutral

Truist Securities

2025-12-17

Maintains

Hold Hold

Past News Coverage

Recent headlines mentioning NSA from our newsroom.

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NSA

NSA National Storage Affiliates Trust - Fundamental Analysis

At a glance

AI Analysis

Key Strengths

Key Risks

Performance Snowflake

Stock Price & Analyst Targets

Multi-Horizon Performance vs Peers

Historical Performance Trends

Revenue & Net Income

Profit & Operating Margins

Return on Equity (ROE)

Quarterly Revenue Growth

Valuation Metrics

Profitability

Growth

Financial Health

Financial Statement Flow

Quarterly Earnings History

Real Estate Sector Comparison

Similar Companies

Recent Insider Trading

SEC Filings

Wall Street Analysts

Past News Coverage

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