Overview Dividends

(NSA) National Storage Affiliates - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US6378701063

Storage, Units, Facilities, Operations

NSA EPS (Earnings per Share)

EPS Growth (3Y CAGR): -18.45%
EPS Trend (3Y Correlation): -45.1%

NSA Revenue

Revenue Growth (3Y CAGR): -3.60%
Revenue Trend (3Y Correlation): -83.8%

Risk via 10d forecast
Volatility	28.0%
Value at Risk 5%th	44.1%
Relative Tail Risk	-4.32%

Reward TTM
Sharpe Ratio	-1.16
Alpha	-37.79

Character TTM
Hurst Exponent	0.470
Beta	0.585
Beta Downside	0.788

Drawdowns 3y
Max DD	37.54%
Mean DD	16.68%
Median DD	15.46%

Description: NSA National Storage Affiliates November 06, 2025

National Storage Affiliates Trust (NYSE: NSA) is a publicly traded REIT headquartered in Greenwood Village, Colorado that owns, operates, and acquires self-storage facilities. As of June 30 2025 the portfolio comprised 1,067 properties across 37 states and Puerto Rico, representing roughly 69.7 million rentable square feet (excluding two assets sold in July 2025). This scale makes NSA one of the largest self-storage owners and operators in the United States.

Key performance indicators from the most recent filings show an occupancy rate of 96 percent in 2024, an average rental rate of about $1.45 per square foot, and a 2024 adjusted Funds From Operations (AFFO) of $1.03 per share, reflecting a 7 percent year-over-year increase driven by strong demand and disciplined pricing.

The self-storage sector is currently buoyed by two macro trends: (1) continued e-commerce growth and residential downsizing, which lift demand for short-term storage, and (2) a relatively low-interest-rate environment that supports REIT financing costs. However, rising construction material prices could pressure new-development margins, making acquisition of existing high-occupancy assets-NSA’s core strategy-a relative advantage.

For a deeper, data-rich assessment of NSA’s valuation dynamics, you may find the analytics on ValueRay worth exploring as part of your due-diligence workflow.

NSA Stock Overview

Market Cap in USD	4,517m
Sub-Industry	Self-Storage REITs
IPO / Inception	2015-04-23
Return 12m vs S&P 500	-38.2%
Analyst Rating	2.53 of 5

NSA Dividends

Dividend Yield	7.92%
Yield on Cost 5y	8.25%
Yield CAGR 5y	13.62%
Payout Consistency	100.0%
Payout Ratio	3.0%

NSA Growth Ratios

CAGR 3y	-4.53%
CAGR/Max DD Calmar Ratio	-0.12
CAGR/Mean DD Pain Ratio	-0.27
Current Volume	847.4k
Average Volume	1220.7k

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (80.0m TTM) > 0 and > 6% of Revenue (6% = 45.4m TTM)

FCFTA 0.06 (>2.0%) and ΔFCFTA -0.48pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -2.18% (prev -52.54%; Δ 50.36pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.07 (>3.0%) and CFO 345.8m > Net Income 80.0m (YES >=105%, WARN >=100%)

Net Debt (-3.90m) to EBITDA (380.5m) ratio: -0.01 <= 3.0 (WARN <= 3.5)

Current Ratio 0.62 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (76.7m) change vs 12m ago 1.30% (target <= -2.0% for YES)

Gross Margin 78.44% (prev 72.80%; Δ 5.65pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 14.36% (prev 14.76%; Δ -0.41pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 1.17 (EBITDA TTM 380.5m / Interest Expense TTM 161.6m) >= 6 (WARN >= 3)

Altman Z'' -0.11

(A) -0.00 = (Total Current Assets 26.3m - Total Current Liabilities 42.7m) / Total Assets 5.14b

(B) -0.10 = Retained Earnings (Balance) -530.7m / Total Assets 5.14b

(D) 0.00 = Book Value of Equity 5.63m / Total Liabilities 3.56b

Total Rating: -0.11 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 52.88

1. Piotroski 4.0pt = -1.0

2. FCF Yield 6.99% = 3.50

3. FCF Margin 41.75% = 7.50

4. Debt/Equity 0.02 = 2.50

5. Debt/Ebitda -0.01 = 2.50

6. ROIC - WACC (= -3.38)% = -4.23

7. RoE 7.83% = 0.65

8. Rev. Trend -83.79% = -6.28

9. EPS Trend -45.08% = -2.25

What is the price of NSA shares?

As of November 18, 2025, the stock is trading at USD 28.78 with a total of 847,386 shares traded.
Over the past week, the price has changed by -2.41%, over one month by -10.76%, over three months by -2.68% and over the past year by -29.22%.

Is National Storage Affiliates a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, National Storage Affiliates is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 52.88 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of NSA is around 26.68 USD . This means that NSA is currently overvalued and has a potential downside of -7.3%.

Is NSA a buy, sell or hold?

National Storage Affiliates has received a consensus analysts rating of 2.53. Therefor, it is recommend to hold NSA.

Strong Buy: 1
Buy: 0
Hold: 9
Sell: 1
Strong Sell: 4

What are the forecasts/targets for the NSA price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	34.1	18.5%
Analysts Target Price	34.1	18.5%
ValueRay Target Price	29.6	3%

NSA Fundamental Data Overview November 11, 2025

Market Cap USD = 4.52b (4.52b USD * 1.0 USD.USD)
P/E Trailing = 50.3443
P/E Forward = 55.8659
P/S = 6.0915
P/B = 3.488
P/EG = 3.14
Beta = 1.208
Revenue TTM = 756.0m USD
EBIT TTM = 189.7m USD
EBITDA TTM = 380.5m USD
Long Term Debt = 3.01b USD (from longTermDebt, last fiscal year)
Short Term Debt = 22.4m USD (from shortTermDebt, last quarter)
Debt = 22.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -3.90m USD (from netDebt column, last quarter)
Enterprise Value = 4.51b USD (4.52b + Debt 22.4m - CCE 26.3m)
Interest Coverage Ratio = 1.17 (Ebit TTM 189.7m / Interest Expense TTM 161.6m)
FCF Yield = 6.99% (FCF TTM 315.6m / Enterprise Value 4.51b)
FCF Margin = 41.75% (FCF TTM 315.6m / Revenue TTM 756.0m)
Net Margin = 10.58% (Net Income TTM 80.0m / Revenue TTM 756.0m)
Gross Margin = 78.44% ((Revenue TTM 756.0m - Cost of Revenue TTM 163.0m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 70.54%)
Tobins Q-Ratio = 0.88 (Enterprise Value 4.51b / Total Assets 5.14b)
Interest Expense / Debt = 181.1% (Interest Expense 40.5m / Debt 22.4m)
Taxrate = -2.91% (negative due to tax credits) (-871.0k / 29.9m)
NOPAT = 195.3m (EBIT 189.7m * (1 - -2.91%)) [negative tax rate / tax credits]
Current Ratio = 0.62 (Total Current Assets 26.3m / Total Current Liabilities 42.7m)
Debt / Equity = 0.02 (Debt 22.4m / totalStockholderEquity, last quarter 973.1m)
Debt / EBITDA = -0.01 (Net Debt -3.90m / EBITDA 380.5m)
Debt / FCF = -0.01 (Net Debt -3.90m / FCF TTM 315.6m)
Total Stockholder Equity = 1.02b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.55% (Net Income 80.0m / Total Assets 5.14b)
RoE = 7.83% (Net Income TTM 80.0m / Total Stockholder Equity 1.02b)
RoCE = 4.71% (EBIT 189.7m / Capital Employed (Equity 1.02b + L.T.Debt 3.01b))
RoIC = 4.74% (NOPAT 195.3m / Invested Capital 4.12b)
WACC = 8.12% (E(4.52b)/V(4.54b) * Re(8.16%) + (debt cost/tax rate unavailable))
Discount Rate = 8.16% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -26.31%
[DCF Debug] Terminal Value 77.96% ; FCFE base≈332.1m ; Y1≈333.8m ; Y5≈357.7m
Fair Price DCF = 80.40 (DCF Value 6.19b / Shares Outstanding 77.0m; 5y FCF grow 0.02% → 3.0% )
EPS Correlation: -45.08 | EPS CAGR: -18.45% | SUE: -0.19 | # QB: 0
Revenue Correlation: -83.79 | Revenue CAGR: -3.60% | SUE: 0.55 | # QB: 0

Additional Sources for NSA Stock

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Fund Manager Positions: Dataroma | Stockcircle