Critical Analysis: National Storage Affiliates Trust (NSA) versus Its Competitors

National Storage Affiliates Trust (NYSE:NSA) is one of 110 public companies in the “REIT – EQTY TRUST – OTHER” industry, but how does it weigh in compared to its competitors? We will compare National Storage Affiliates Trust to related businesses based on the strength of its earnings, profitability, risk, valuation, institutional ownership, dividends and analyst recommendations.

Insider & Institutional Ownership

100.0% of National Storage Affiliates Trust shares are owned by institutional investors. Comparatively, 76.0% of shares of all “REIT – EQTY TRUST – OTHER” companies are owned by institutional investors. 13.7% of National Storage Affiliates Trust shares are owned by insiders. Comparatively, 6.0% of shares of all “REIT – EQTY TRUST – OTHER” companies are owned by insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock will outperform the market over the long term.

Risk & Volatility

National Storage Affiliates Trust has a beta of 1.08, meaning that its stock price is 8% more volatile than the S&P 500. Comparatively, National Storage Affiliates Trust’s competitors have a beta of 1.28, meaning that their average stock price is 28% more volatile than the S&P 500.

Valuation and Earnings

This table compares National Storage Affiliates Trust and its competitors revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Net Income	Price/Earnings Ratio
National Storage Affiliates Trust	$752.93 million	$73.78 million	58.71
National Storage Affiliates Trust Competitors	$1.58 billion	$213.28 million	30.53

National Storage Affiliates Trust’s competitors have higher revenue and earnings than National Storage Affiliates Trust. National Storage Affiliates Trust is trading at a higher price-to-earnings ratio than its competitors, indicating that it is currently more expensive than other companies in its industry.

Analyst Recommendations

This is a summary of current ratings and price targets for National Storage Affiliates Trust and its competitors, as provided by MarketBeat.com.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
National Storage Affiliates Trust	1	12	0	0	1.92
National Storage Affiliates Trust Competitors	2371	7975	8362	296	2.35

National Storage Affiliates Trust currently has a consensus target price of $33.60, indicating a potential downside of 17.05%. As a group, “REIT – EQTY TRUST – OTHER” companies have a potential upside of 10.10%. Given National Storage Affiliates Trust’s competitors stronger consensus rating and higher probable upside, analysts clearly believe National Storage Affiliates Trust has less favorable growth aspects than its competitors.

Profitability

This table compares National Storage Affiliates Trust and its competitors’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
National Storage Affiliates Trust	9.80%	5.81%	1.43%
National Storage Affiliates Trust Competitors	0.09%	1.35%	0.83%

Dividends

National Storage Affiliates Trust pays an annual dividend of $2.28 per share and has a dividend yield of 5.6%. National Storage Affiliates Trust pays out 330.4% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. As a group, “REIT – EQTY TRUST – OTHER” companies pay a dividend yield of 4.7% and pay out 239.0% of their earnings in the form of a dividend. National Storage Affiliates Trust has raised its dividend for 1 consecutive years.

Summary

National Storage Affiliates Trust competitors beat National Storage Affiliates Trust on 8 of the 15 factors compared.

National Storage Affiliates Trust Company Profile

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of December 31, 2023, the Company held ownership interests in and operated 1,050 self storage properties, located in 42 states and Puerto Rico with approximately 68.6 million rentable square feet, which excludes 39 self storage properties classified as held for sale to be sold to a third party. NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States.