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NSA

National Storage Affiliates TrustNYSE:NSA Stock Report

Market Cap

US$6.4b

7D

-4.6%

1Y

62.6%

Updated

28 Sep, 2021

Data

Company Financials +
NSA fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance5/6
Financial Health1/6
Dividends3/6

NSA Overview

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.

National Storage Affiliates Trust Competitors

Price History & Performance

Summary of all time highs, changes and price drops for National Storage Affiliates Trust
Historical stock prices
Current Share PriceUS$54.04
52 Week HighUS$32.49
52 Week LowUS$59.34
Beta0.39
1 Month Change-4.59%
3 Month Change6.88%
1 Year Change62.58%
3 Year Change119.05%
5 Year Change170.61%
Change since IPO315.69%

Recent News & Updates

Shareholder Returns

NSAUS REITsUS Market
7D-4.6%-1.8%2.0%
1Y62.6%29.8%32.8%

Return vs Industry: NSA exceeded the US REITs industry which returned 29.8% over the past year.

Return vs Market: NSA exceeded the US Market which returned 32.8% over the past year.

Price Volatility

Is NSA's price volatile compared to industry and market?
NSA volatility
NSA Beta0.39
Industry Beta0.84
Market Beta1

Stable Share Price: NSA is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: NSA's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/a924Tammy Fischerhttps://www.nationalstorageaffiliates.com

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. As of September 30, 2020, the Company held ownership interests in and operated 788 self storage properties located in 35 states and Puerto Rico with approximately 49.5 million rentable square feet. NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States.

National Storage Affiliates Trust Fundamentals Summary

How do National Storage Affiliates Trust's earnings and revenue compare to its market cap?
NSA fundamental statistics
Market CapUS$6.40b
Earnings (TTM)US$67.95m
Revenue (TTM)US$487.31m

94.5x

P/E Ratio

13.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NSA income statement (TTM)
RevenueUS$487.31m
Cost of RevenueUS$129.84m
Gross ProfitUS$357.46m
ExpensesUS$289.52m
EarningsUS$67.95m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.57
Gross Margin73.35%
Net Profit Margin13.94%
Debt/Equity Ratio125.2%

How did NSA perform over the long term?

See historical performance and comparison

Dividends

3.0%

Current Dividend Yield

58%

Payout Ratio

Valuation

Is National Storage Affiliates Trust undervalued compared to its fair value and its price relative to the market?

24.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: NSA ($54.04) is trading below our estimate of fair value ($71.85)

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


Price To Earnings Ratio

PE vs Industry: NSA is poor value based on its PE Ratio (94.5x) compared to the US REITs industry average (49.9x).

PE vs Market: NSA is poor value based on its PE Ratio (94.5x) compared to the US market (18.1x).


Price to Earnings Growth Ratio

PEG Ratio: NSA is poor value based on its PEG Ratio (3.2x)


Price to Book Ratio

PB vs Industry: NSA is overvalued based on its PB Ratio (6.8x) compared to the US REITs industry average (2x).


Future Growth

How is National Storage Affiliates Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

29.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NSA's forecast earnings growth (29.5% per year) is above the savings rate (2%).

Earnings vs Market: NSA's earnings (29.5% per year) are forecast to grow faster than the US market (15% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: NSA's revenue (12.5% per year) is forecast to grow faster than the US market (9.8% per year).

High Growth Revenue: NSA's revenue (12.5% 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 (14%).


Past Performance

How has National Storage Affiliates Trust performed over the past 5 years?

21.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NSA has high quality earnings.

Growing Profit Margin: NSA's current net profit margins (13.9%) are higher than last year (2%).


Past Earnings Growth Analysis

Earnings Trend: NSA's earnings have grown significantly by 21.2% per year over the past 5 years.

Accelerating Growth: NSA's earnings growth over the past year (732.1%) exceeds its 5-year average (21.2% per year).

Earnings vs Industry: NSA earnings growth over the past year (732.1%) exceeded the REITs industry 3.9%.


Return on Equity

High ROE: NSA's Return on Equity (6.5%) is considered low.


Financial Health

How is National Storage Affiliates Trust's financial position?


Financial Position Analysis

Short Term Liabilities: NSA's short term assets ($45.4M) do not cover its short term liabilities ($49.3M).

Long Term Liabilities: NSA's short term assets ($45.4M) do not cover its long term liabilities ($2.2B).


Debt to Equity History and Analysis

Debt Level: NSA's debt to equity ratio (125.2%) is considered high.

Reducing Debt: NSA's debt to equity ratio has reduced from 128.8% to 125.2% over the past 5 years.

Debt Coverage: NSA's debt is not well covered by operating cash flow (12.3%).

Interest Coverage: NSA's interest payments on its debt are not well covered by EBIT (2.7x coverage).


Balance Sheet


Dividend

What is National Storage Affiliates Trust current dividend yield, its reliability and sustainability?

3.03%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NSA's dividend (3.03%) is higher than the bottom 25% of dividend payers in the US market (1.3%).

High Dividend: NSA's dividend (3.03%) is low compared to the top 25% of dividend payers in the US market (3.57%).


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 6 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (57.6%), 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 covered by earnings (67.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.7yrs

Average management tenure


CEO

Tammy Fischer (65 yo)

1.67yrs

Tenure

US$2,779,857

Compensation

Ms. Tamara D. Fischer, also known as Tammy, B.A., has been an Independent Director of Duke Realty Corporation since January 29, 2020. Ms. Fischer serves as the President, Chief Executive Officer and Direct...


CEO Compensation Analysis

Compensation vs Market: Tammy's total compensation ($USD2.78M) is below average for companies of similar size in the US market ($USD6.38M).

Compensation vs Earnings: Tammy's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: NSA's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

Experienced Board: NSA's board of directors are considered experienced (6.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 20.8%.


Top Shareholders

Company Information

National Storage Affiliates Trust's employee growth, exchange listings and data sources


Key Information

  • Name: National Storage Affiliates Trust
  • Ticker: NSA
  • Exchange: NYSE
  • Founded: NaN
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Implied Market Cap: US$6.405b
  • Market Cap: US$4.776b
  • Shares outstanding: 118.82m
  • 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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/28 22:22
End of Day Share Price2021/09/28 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.