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NSA

National Storage Affiliates Trust

NSA

NYSE·Real Estate·REIT - Industrial·Mkt cap $3.5B

$45.70

+1.08%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$27.43 - $46.47

P/E

60.13

Fwd P/E

68.27

Beta

1.12

Div Yield

5.07%

Avg Vol

941.8K

Shares Out

77.1M

Mkt Cap

$3.5B

Price action

Price chart

Up 36.5% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

Bull Case

4 reasons

  • Scale and Market Presence - 788 properties making NSA one of the largest self-storage operators in the U.S.
  • Geographic Diversification - Strategic locations in top 100 metropolitan statistical areas reducing risk
  • Operational Efficiency - Proven management systems and cost controls across large portfolio
  • Essential Service Model - Recession-resistant business model with consistent tenant demand

Bear Case

2 risks

  • Average volatility.
  • High premium - requires strong execution

Growth

Mild headwinds expected

Continued urbanization and population growth in major metropolitan areas

Value

High premium - requires strong execution

Momentum

Strong

+18.9% over 3m

Quality

Stable

Strong fundamentals

Dividend

High yield

5.07% yield

Earnings track record

Recent earnings results

AI-summarized recap of last quarter, plus the surprise on every print.

Next: Aug 3, 2026

Q2 26 RECAP

MAY 5, 2026

Reported EPS of $0.16 vs $0.12 consensus (+37.0% surprise). Revenue of $168.2M vs $181.7M expected (-7.4%).

EPS beat +37.0%
Revenue miss

EPS surprise · last 4Q

1 of 1 beats

Q2 26

+37.0%

Next: Aug 3, 2026

Revenue trend · last 8Q

-1%

-3%

-2%

-2%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$190.4M

$193.6M

$190.1M

$188.4M

$188.8M

$188.7M

$187.0M

$185.4M

Margins · last 8Q

Gross

22.2%

Operating

38.2%

Profit

9.6%

Wall Street consensus

5 analysts · 0% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

0%

Hold

4

80%

Sell

1

20%

Median Price Target

$41.50

-9.2% vs $45.70

Low $41.00
Median $41.50
High $42.00

Latest: UBS · $42.00 · May 18, 2026

2 analysts covering

vs Industry

How NSA stacks vs REIT - Industrial

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.

Related

Peers & themes

Peers

No peer data available.

Themes

No themes assigned.