Update shared on 27 Nov 2025
Fair value Decreased 0.99%Analysts have recently lowered their price target for National Storage Affiliates Trust from approximately $33.77 to $33.43, citing updated growth forecasts, modestly higher discount rates, and reassessed profit margin expectations.
Analyst Commentary
Market watchers have updated their assessments on National Storage Affiliates Trust, reflecting mixed sentiment regarding the company's outlook following the recent adjustment in price targets.
Bullish Takeaways
- Bullish analysts point to the company’s steady occupancy rates, which have remained resilient even in a challenging macroeconomic environment.
- Improved operational efficiencies and disciplined capital allocation are expected to support stable profit margins over time.
- There is confidence in the management team’s ability to adapt to shifting market conditions, allowing for potential upside if sector fundamentals strengthen.
Bearish Takeaways
- Bearish analysts highlight concerns about slower growth forecasts, which could dampen future earnings momentum.
- Modestly higher discount rates are placing pressure on valuations, making it harder for the stock to justify elevated price levels.
- Some caution that competition within the storage space may intensify, which could constrain both revenue growth and margin expansion going forward.
What's in the News
- Reaffirmed earnings guidance for 2025, with expectations of total revenue growth between negative 3.0% and positive 2.0% and diluted earnings per share in the range of $0.71 to $0.74 (Key Developments).
- Entered a new joint venture with Investment Real Estate Management, LLC, resulting in a combined buying power of approximately $350 million for value-add self storage investments targeting growth markets over the next 24 months (Key Developments).
- National Storage Affiliates committed up to $105 million in preferred equity to the joint venture, providing a 10% preferred return per annum and the opportunity for additional returns as investments are exited in future years (Key Developments).
Valuation Changes
- Consensus Analyst Price Target has decreased slightly, moving from $33.77 to $33.43 per share.
- Discount Rate has risen from 8.34% to 8.88%, indicating a higher risk premium being applied by analysts.
- Revenue Growth expectations have increased modestly, from 2.87% to 3.19%.
- Net Profit Margin forecast has improved, rising from 6.10% to 6.63%.
- Future P/E ratio has decreased from 68.0x to 62.3x. This reflects revised earnings projections relative to valuation.
Disclaimer
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