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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#1210
Positioning
Market Dominance
Finance, Insurance, And Real Estate
Trading
$2.3B
Tamara D. Fischer
National Storage Affiliates Trust is a Maryland real estate investment trust. As of September 30, 2020, NSA 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.
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Dates updated upon official exchange announcement.
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X-AXIS: EV/EBITDA (LOWER = CHEAPER) | Y-AXIS: ROE (HIGHER = ELITE) | RED CIRCLE = NSA ANALYSIS TARGET
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$SII SPROTT INC. | 75 | 91 | 87 | 98 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PUK PRUDENTIAL PLC | 73 | 88 | 97 | 80 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$NMR NOMURA HOLDINGS INC | 72 | 81 | 92 | 87 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PSLV Sprott Physical Silver Trust | 69 | 82 | 80 | 98 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$UFCS UNITED FIRE GROUP INC | 68 | 81 | 93 | 76 | 5.0x | 3.5x | 13.2% | 4.1% | 99.9% | 14.7% | 11.1% | 9.2% | 2.1% | 16.0x | $775M | VS | |
$SLF SUN LIFE FINANCIAL INC | 68 | 83 | 95 | 63 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$CBOE Cboe Global Markets, Inc. | 68 | 75 | 63 | 77 | 21.3x | 15.7x | 24.0% | 13.7% | 41.7% | 32.4% | 26.4% | 8.2% | 1.1% | 30.0x | $25.7B | VS | |
$VTMX Vesta Real Estate Corporation, S.A.B. de C.V. | 67 | 69 | 77 | 80 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PHYS Sprott Physical Gold Trust | 67 | 64 | 82 | 91 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$GLDM World Gold Trust | 66 | 54 | 85 | 92 | 11.3x | 11.3x | - | 20.9% | 100.0% | 97.1% | 554.8% | -19.0% | 0.0% | - | $32.0B | VS | |
$NSA National Storage Affiliates Trust | 55 | 61 | 66 | 49 | 25.3x | 5.8x | 6.9% | 2.1% | 71.2% | 37.3% | 14.4% | -0.9% | 7.5% | 225.0x | $2.3B | ||
| SECTOR BENCH | - | - | - | - | - | 11.9x | 7.8x | 9.0% | 1.3% | 77.7% | 18.1% | 21.9% | 10.7% | 2.0% | 0.5x | - | REF |
National Storage Affiliates Trust (NSA) receives a "Hold" rating with a composite score of 55.4/100. It ranks #1210 out of 7,333 stocks in our coverage universe and carries a 3-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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In-line with peers — no strong momentum signal
Trading at a discount to fundamentals — favorable entry valuation
High profitability & efficiency — strong quality floor supports entry
Average volatility — neutral timing signal
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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Relative valuation derived from Finance, Insurance, And Real Estate sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for NSA.
View All Ratings| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 61 | 86 | -25DRAG |
| MOMENTUM | 49 | 51 | -2NEUTRAL |
| VALUATION | 66 | 90 | -24DRAG |
| INVESTMENT | 34 | 53 | -19DRAG |
| STABILITY | 57 | 60 | -3NEUTRAL |
| SHORT INT | 44 | 42 | +2NEUTRAL |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROIC 2.0% vs WACC 5.0% (spread -3.0%)
GM 71% vs sector 78%, OM 37% vs sector 18%
Capital turnover 0.06x
Rev growth -1%, 10yr history
Interest coverage 1.7x, Net debt/EBITDA 28.9x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
We rate National Storage Affiliates Trust (NSA) as a Hold with a composite score of 55.4/100 at a current price of $34.25. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling.
National Storage Affiliates Trust holds a top-quartile position (#0 of 50) within the Finance, Insurance, And Real Estate sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 55.4/100 places it at rank #1210 in our full universe.
No Moat
Medium
Poor
Undervalued
Gross margins of 71% signal strong pricing power.
Value factor score of 66 suggests attractive pricing.
Stable competitive position in a defensive sector.
Leverage of 225% D/E amplifies downside risk.
Vulnerability to macroeconomic shocks and interest rate volatility.
National Storage Affiliates Trust represents a hold based on multi-factor quantitative performance.
Our model assigns National Storage Affiliates Trust a Hold rating, with a composite score of 55.4/100 and 3 out of 5 stars. Ranked #1210 of 7,333 stocks, NSA presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
With a quality score of 61/100, NSA shows adequate but unremarkable business quality. The company reports a return on equity of 6.9% (sector avg: 9.0%), gross margins of 71.2% (sector avg: 77.7%), net margins of 14.4% (sector avg: 21.9%). This suggests the company generates acceptable returns but may lack the competitive positioning or operational efficiency to stand out from peers.
NSA's value score of 66/100 indicates the stock is fairly valued based on its current fundamentals. Key valuation metrics include a P/E ratio of 25.25x, an EV/EBITDA of 5.83x, a P/B ratio of 1.74x. At this level, neither a clear bargain nor overpriced, the stock's attractiveness depends more on forward growth expectations and qualitative factors.
National Storage Affiliates Trust's investment score of 34/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of -0.9% vs. a sector average of 10.7% and a return on assets of 2.1% (sector: 1.3%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
NSA is currently showing below-average momentum at 49/100, which may indicate weakening institutional interest or negative sentiment shifts. Revenue growth stands at -0.9% year-over-year, while a beta of 0.60 reflects its sensitivity to broader market moves. Investors should note that declining momentum can precede further price weakness, though contrarian opportunities sometimes emerge at these levels.
With a stability score of 57/100, NSA exhibits average financial resilience. Key stability metrics include a beta of 0.60 and a debt-to-equity ratio of 225.00x (sector avg: 0.5x). While the balance sheet is not a major concern, the stock is subject to typical market volatility and may experience sharper drawdowns during risk-off episodes.
The short interest score of 44/100 for NSA suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include elevated leverage (D/E: 225.00x). With a $2.3B market cap (mid-cap), National Storage Affiliates Trust may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
National Storage Affiliates Trust offers an attractive dividend yield of 7.5%, placing it among the higher-yielding stocks in its peer group. This compares to a sector average dividend yield of 2.0%. A yield this high can provide meaningful income, but investors should verify the payout is sustainable by examining the payout ratio, free cash flow coverage, and any history of dividend cuts.
National Storage Affiliates Trust is a mid-cap company in the Finance, Insurance, And Real Estate sector, ranked #0 of 50 in its sector (100th percentile) and #1210 of 7,333 overall (83rd percentile). Key comparisons include ROE of 6.9% trailing the 9.0% sector median and operating margins of 37.3% above the 18.1% sector average. This top-quartile standing reflects exceptional competitive strength relative to Finance, Insurance, And Real Estate peers.
While NSA currently exhibits a HOLD profile, superior opportunities exist within the FINANCE, INSURANCE, AND REAL ESTATE sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Investment (34) is the limiting factor — improvement here would lift the composite score most.
EV/EBITDA 25% BELOW SECTOR MEDIAN (FAVORABLE)
ROE 23% BELOW SECTOR MEDIAN
Gross Margin 8% BELOW SECTOR MEDIAN
The article discusses the impact of the Federal Reserve's interest rate cuts on various sectors and stocks, including REITs, consumer discretionary, utilities, and residential construction. It highlights Lennar as a top pick in the homebuilding industry due to the ongoing housing shortage in the U.S.
The article discusses the author's decision to invest in two REIT stocks, Realty Income (O) and National Storage Affiliates Trust (NSA), due to their strong underlying businesses, long-term growth prospects, and attractive dividend yields. The author also believes the stocks could benefit from potential interest rate cuts by the Federal Reserve.
National Storage Affiliates Trust recently reported solid Q3 2025 results, with improved same-store revenue growth across most key markets and core FFO per share exceeding consensus expectations, while also preparing to release its Q4 2025 results in late February 2026. The company introduced a preferred equity investment program aimed at funding self-storage deals and deepening partnerships with former PRO operators, which management highlighted alongside its positive commentary on...
The headline numbers for National Storage (NSA) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
The First of Long Island (FLIC) delivered earnings and revenue surprises of -16.67% and 6.96%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
Above 50MA
37.18%
Net New Highs
+51081