National Storage Affiliates Trust
Market Cap
US$2.9b
Last Updated
2019/11/20 00:44 UTC
Data Sources
Company Financials +
Executive Summary
National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States.
Snowflake
Fundamentals
Average dividend payer and overvalued.
Similar Companies
Share Price & News
How has National Storage Affiliates Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: NSA has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
0.09%
NSA
2.4%
US REITs
0.9%
US Market
1 Year Return
19.9%
NSA
15.7%
US REITs
16.8%
US Market
Return vs Industry: NSA exceeded the US REITs industry which returned 15.7% over the past year.
Return vs Market: NSA exceeded the US Market which returned 16.8% over the past year.
Shareholder returns
| NSA | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.09% | 2.4% | 0.9% |
| 30 Day | -8.2% | -2.0% | 4.5% |
| 90 Day | -3.1% | 1.7% | 6.2% |
| 1 Year | 25.0%19.9% | 20.6%15.7% | 19.4%16.8% |
| 3 Year | 80.0%58.5% | 40.0%22.5% | 47.5%38.0% |
| 5 Year | n/a | 57.1%24.4% | 62.0%44.1% |
Price Volatility Vs. Market
How volatile is National Storage Affiliates Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
Did You Miss National Storage Affiliates Trust's (NYSE:NSA) 80% Share Price Gain?1 month ago | Simply Wall St
Have Insiders Been Buying National Storage Affiliates Trust (NYSE:NSA) Shares?2 months ago | Simply Wall St
National Storage Affiliates Trust (NYSE:NSA) Is About To Go Ex-Dividend, And It Pays A 0.9% YieldValuation
Is National Storage Affiliates Trust undervalued compared to its fair value and its price relative to the market?
12.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: NSA ($32.53) is trading below our estimate of fair value ($36.99)
Significantly Below Fair Value: NSA is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: NSA is unprofitable, so we can't compare its PE Ratio to the REITs industry average.
PE vs Market: NSA is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate NSA's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: NSA is overvalued based on its PB Ratio (2.8x) compared to the US REITs industry average (2x).
Next Steps
Future Growth
How is National Storage Affiliates Trust forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
18.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: NSA is forecast to remain unprofitable over the next 3 years.
Earnings vs Market: NSA is forecast to remain unprofitable over the next 3 years.
High Growth Earnings: NSA is forecast to remain unprofitable over the next 3 years.
Revenue vs Market: NSA's revenue (8.4% per year) is forecast to grow faster than the US market (7.3% per year).
High Growth Revenue: NSA's revenue (8.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: NSA's Return on Equity is forecast to be low in 3 years time (0.2%).
Next Steps
Past Performance
How has National Storage Affiliates Trust performed over the past 5 years?
-26.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NSA has high quality earnings.
Growing Profit Margin: NSA is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: NSA is unprofitable, and losses have increased over the past 5 years at a rate of -26.4% per year.
Accelerating Growth: Unable to compare NSA's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: NSA is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (8.7%).
Return on Equity
High ROE: NSA has a negative Return on Equity (4.23%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is National Storage Affiliates Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: NSA has a high level of physical assets or inventory.
Debt Coverage by Assets: NSA's debt is not covered by short term assets (assets are 0x debt).
Financial Institutions Analysis
Asset Level: NSA's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if NSA has a sufficient allowance for bad loans.
Low Risk Liabilities: NSA reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if NSA has an acceptable proportion of non-loan assets held.
Low Risk Deposits: NSA has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if NSA has an appropriate level of bad loans.
Next Steps
Dividend
What is National Storage Affiliates Trust's current dividend yield, its reliability and sustainability?
3.93%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: NSA's dividend (3.93%) is higher than the bottom 25% of dividend payers in the US market (1.43%).
High Dividend: NSA's dividend (3.93%) is in the top 25% of dividend payers in the US market (3.68%)
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, NSA has been paying a dividend for less than 10 years.
Growing Dividend: NSA's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (61.9%), NSA's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: NSA's dividends in 3 years are forecast to be thoroughly covered by earnings (0.8% payout ratio).
Next Steps
Management
What is the CEO of National Storage Affiliates Trust's salary, the management and board of directors tenure and is there insider trading?
1.5yrs
Average management tenure
CEO
Arlen Nordhagen (62yo)
6.5yrs
Tenure
US$2,040,167
Compensation
Mr. Arlen Dale Nordhagen is a Co-Founder of National Storage Affiliates Trust (“NSA”) and has been its Chief Executive Officer since May 6, 2013 and Chairman of the Board of Trustees since 2015. He served ...
CEO Compensation Analysis
Compensation vs Market: Arlen's total compensation ($USD2.04M) is below average for companies of similar size in the US market ($USD5.10M).
Compensation vs Earnings: Arlen's compensation has been consistent with company performance over the past year.
Management Age and Tenure
1.5yrs
Average Tenure
55.5yo
Average Age
Experienced Management: NSA's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.
Board Age and Tenure
4.6yrs
Average Tenure
63yo
Average Age
Experienced Board: NSA's board of directors are considered experienced (4.6 years average tenure).
Insider Trading
Insider Buying: NSA insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | President President |
| Shares | 400 |
| Max Price | US$33.00 |
| Entity | Individual |
| Role | Lead Director Lead Independent Trustee |
| Shares | 500 |
| Max Price | US$30.99 |
| Entity | Individual |
| Shares | 10,000 |
| Max Price | US$28.30 |
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13.7%.
Management Team
Tamara Fischer (63yo)
President
- Tenure: 1.3yrs
- Compensation: US$1.54m
George Hoglund
Vice President of Investor Relations
- Tenure: 0.8yrs
Arlen Nordhagen (62yo)
Chairman of the Board of Trustees & CEO
- Tenure: 6.5yrs
- Compensation: US$2.04m
Russell Brown
Senior Vice President of Acquisitions
- Tenure: 0.08yrs
Steve Treadwell (49yo)
Executive VP & COO
- Tenure: 5.8yrs
- Compensation: US$1.02m
Bill Bohannan
Arizona Market Executive Vice President of Storage Solutions
- Tenure: 0yrs
John Minar
Southern California Regional President of Guardian Storage Centers
- Tenure: 0yrs
Tracy Taylor
Texas Market Executive VP of Move It Self Storage & Member of PRO Advisory Committee
- Tenure: 0yrs
Brandon Togashi (35yo)
Senior VP & Chief Accounting Officer
- Tenure: 2.8yrs
- Compensation: US$630.40k
Tiffany Kenyon
Senior VP & Senior Legal Officer
- Tenure: 1.5yrs
Board Members
George Chapman (72yo)
Independent Trustee
- Tenure: 4.6yrs
- Compensation: US$150.00k
Paul Hylbert (74yo)
Lead Independent Trustee
- Tenure: 3.8yrs
- Compensation: US$152.50k
Steve Osgood (62yo)
Independent Trustee
- Tenure: 4.6yrs
- Compensation: US$152.50k
Chad Meisinger (51yo)
Independent Trustee
- Tenure: 4.6yrs
- Compensation: US$145.00k
Arlen Nordhagen (62yo)
Chairman of the Board of Trustees & CEO
- Tenure: 6.5yrs
- Compensation: US$2.04m
Warren Allan
Member of PRO Advisory Committee
- Tenure: 0yrs
Tim Warren (64yo)
Independent Trustee
- Tenure: 0.5yrs
Dominic Palazzo (63yo)
Independent Trustee
- Tenure: 4.6yrs
- Compensation: US$157.50k
John Minar
Southern California Regional President of Guardian Storage Centers
- Tenure: 0yrs
Tracy Taylor
Texas Market Executive VP of Move It Self Storage & Member of PRO Advisory Committee
- Tenure: 0yrs
Company Information
National Storage Affiliates Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: National Storage Affiliates Trust
- Ticker: NSA
- Exchange: NYSE
- Founded:
- Industry: Specialized REITs
- Sector: Real Estate
- Implied Market Cap: US$2.927b
- Market Cap: US$1.929b
- Shares outstanding: 89.76m
- Website: https://www.nationalstorageaffiliates.com
Number of Employees
Location
- National Storage Affiliates Trust
- 8400 East Prentice Avenue
- 9th Floor
- Greenwood Village
- Colorado
- 80111
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| NSA | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Apr 2015 |
| 4GC | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Apr 2015 |
| NSA.PRA | NYSE (New York Stock Exchange) | 6% PFD BEN INT A | US | USD | Oct 2017 |
Biography
National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistic ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/11/20 00:44 |
| End of Day Share Price | 2019/11/19 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.