National Storage Affiliates Trust

NYSE:NSA Stock Report

Market Cap: US$4.5b

National Storage Affiliates Trust Valuation

Is NSA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NSA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NSA ($39.16) is trading below our estimate of fair value ($75.05)

Significantly Below Fair Value: NSA is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for NSA?

Other financial metrics that can be useful for relative valuation.

NSA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue8.9x
Enterprise Value/EBITDA13.7x
PEG Ratio-0.9x

Price to Earnings Ratio vs Peers

How does NSA's PE Ratio compare to its peers?

The above table shows the PE ratio for NSA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.8x
CUBE CubeSmart
24.8x1.8%US$10.3b
EXR Extra Space Storage
38.8x10.1%US$32.4b
PSA Public Storage
26.2x3.5%US$50.8b
EPR EPR Properties
21.6x7.0%US$3.2b
NSA National Storage Affiliates Trust
22.5x-25.7%US$4.5b

Price-To-Earnings vs Peers: NSA is good value based on its Price-To-Earnings Ratio (22.5x) compared to the peer average (27.8x).


Price to Earnings Ratio vs Industry

How does NSA's PE Ratio compare vs other companies in the US Specialized REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a7.6%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a7.6%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: NSA is expensive based on its Price-To-Earnings Ratio (22.5x) compared to the Global Specialized REITs industry average (21.9x).


Price to Earnings Ratio vs Fair Ratio

What is NSA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NSA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.5x
Fair PE Ratio24.6x

Price-To-Earnings vs Fair Ratio: NSA is good value based on its Price-To-Earnings Ratio (22.5x) compared to the estimated Fair Price-To-Earnings Ratio (24.6x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NSA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$39.16
US$37.79
-3.5%
9.9%US$45.00US$30.00n/a14
Mar ’25US$36.50
US$37.07
+1.6%
11.5%US$45.00US$29.00n/a14
Feb ’25US$38.03
US$37.29
-2.0%
12.4%US$46.00US$29.00n/a14
Jan ’25US$41.47
US$35.67
-14.0%
13.8%US$46.00US$29.00n/a12
Dec ’24US$34.57
US$32.92
-4.8%
8.2%US$36.00US$29.00n/a12
Nov ’24US$28.58
US$33.25
+16.3%
8.8%US$38.00US$29.00n/a12
Oct ’24US$31.74
US$35.92
+13.2%
6.3%US$40.00US$32.00n/a12
Sep ’24US$33.96
US$36.67
+8.0%
6.9%US$42.00US$33.00n/a12
Aug ’24US$33.32
US$41.17
+23.5%
8.8%US$48.00US$36.00n/a12
Jul ’24US$34.83
US$41.42
+18.9%
8.1%US$48.00US$36.00n/a12
Jun ’24US$36.72
US$42.91
+16.9%
8.4%US$49.00US$38.00n/a11
May ’24US$38.14
US$44.27
+16.1%
7.7%US$49.00US$39.00n/a11
Apr ’24US$41.78
US$44.40
+6.3%
8.6%US$50.00US$36.00n/a10
Mar ’24US$42.77
US$43.80
+2.4%
7.6%US$48.00US$36.00US$36.5010
Feb ’24US$40.99
US$44.09
+7.6%
9.3%US$53.00US$36.00US$38.0311
Jan ’24US$36.12
US$45.64
+26.3%
9.1%US$53.00US$40.00US$41.4711
Dec ’23US$39.76
US$50.59
+27.2%
14.4%US$62.00US$40.00US$34.5711
Nov ’23US$42.59
US$53.50
+25.6%
11.9%US$62.00US$43.00US$28.5811
Oct ’23US$41.58
US$60.15
+44.7%
9.6%US$73.00US$52.00US$31.7410
Sep ’23US$51.29
US$61.05
+19.0%
9.0%US$73.00US$52.00US$33.9610
Aug ’23US$54.92
US$60.32
+9.8%
8.8%US$73.00US$52.00US$33.3211
Jul ’23US$51.63
US$61.41
+18.9%
8.8%US$73.00US$52.00US$34.8311
Jun ’23US$52.18
US$64.14
+22.9%
10.6%US$78.00US$52.00US$36.7211
May ’23US$56.60
US$69.32
+22.5%
8.1%US$78.00US$60.00US$38.1411
Apr ’23US$64.38
US$69.86
+8.5%
8.5%US$79.00US$60.00US$41.7811
Mar ’23US$58.71
US$69.59
+18.5%
8.2%US$78.00US$60.00US$42.7711

Analyst Forecast: Target price is lower than the current share price.


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