📊 NSA-PB Key Takeaways
Is National Storage Affiliates Trust (NSA-PB) a Good Investment?
National Storage Affiliates demonstrates solid operational efficiency with a strong 45% FCF margin and respectable 15.9% operating margin, supported by healthy interest coverage of 3.1x. However, revenue contraction of 2.3% YoY and declining diluted EPS despite net income growth suggest underlying operational challenges that warrant cautious positioning until stabilization is evident.
NSA generates solid cash from operations with a high FCF margin and manageable leverage, despite a modest revenue decline. Net income improved, but the sharp EPS drop and lower top-line signal headwinds and possible dilution effects. Execution on stabilizing same-store trends and controlling interest costs will drive fundamentals from here.
Why Buy National Storage Affiliates Trust Stock? NSA-PB Key Strengths
- Exceptional free cash flow margin of 45.0% demonstrates strong cash generation relative to revenue
- Solid operating margin of 15.9% reflects efficient cost management in the REIT business model
- Healthy interest coverage ratio of 3.1x indicates adequate capacity to service debt obligations
- Moderate leverage at 0.92x debt-to-equity provides reasonable financial flexibility
- Strong operating cash flow and high FCF margin (~45%)
- Moderate leverage (Debt/Equity ~0.92x) with 3.1x interest coverage
- Resilient self-storage portfolio supporting steady recurring revenue
NSA-PB Stock Risks: National Storage Affiliates Trust Investment Risks
- Revenue declined 2.3% year-over-year, signaling potential market headwinds or operational challenges in the self-storage sector
- Diluted EPS fell 41.5% YoY despite 38.4% net income growth, indicating significant share dilution that negatively impacts per-share returns
- Low ROA of 1.5% and ROE of 7.8% suggest below-average returns on deployed capital for a capital-intensive REIT
- Limited cash position of $23.3M relative to $3.5B in liabilities constrains financial flexibility for unexpected challenges
- Revenue softness (-2.3% YoY) indicating occupancy/rate pressure
- EPS down sharply (-41.5% YoY) suggesting dilution or mix effects
- Refinancing and rate risk with modest coverage and low cash
Key Metrics to Watch
- Year-over-year revenue growth trajectory to confirm stabilization or recovery
- Operating margin sustainability and trends in occupancy rates within the self-storage portfolio
- Free cash flow generation and distribution capacity to unitholders
- Debt service coverage and refinancing requirements given $873.2M in long-term debt
- Same-store revenue/NOI growth and occupancy
- Interest coverage and refinancing rates/maturity ladder
National Storage Affiliates Trust (NSA-PB) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The 45.0% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. The current ratio below 1.0x warrants monitoring of short-term liquidity.
NSA-PB Profit Margin, ROE & Profitability Analysis
NSA-PB vs Real Estate Sector: How National Storage Affiliates Trust Compares
How National Storage Affiliates Trust compares to Real Estate sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is National Storage Affiliates Trust Stock Overvalued? NSA-PB Valuation Analysis 2026
Based on fundamental analysis, National Storage Affiliates Trust has mixed fundamental signals relative to the Real Estate sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
National Storage Affiliates Trust Balance Sheet: NSA-PB Debt, Cash & Liquidity
NSA-PB Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: National Storage Affiliates Trust's revenue has grown significantly by 47% over the 5-year period, indicating strong business expansion. The most recent EPS of $1.48 reflects profitable operations.
NSA-PB Revenue Growth, EPS Growth & YoY Performance
NSA-PB Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $188.7M | $18.4M | $0.17 |
| Q2 2025 | $188.8M | $17.1M | $0.16 |
| Q1 2025 | $188.4M | $13.0M | $0.10 |
| Q3 2024 | $193.6M | $18.7M | $0.18 |
| Q2 2024 | $190.4M | $17.1M | $0.16 |
| Q1 2024 | $196.1M | $29.0M | $0.24 |
| Q3 2023 | $206.8M | $22.2M | $0.21 |
| Q2 2023 | $198.9M | $25.0M | $0.24 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
National Storage Affiliates Trust Dividends, Buybacks & Capital Allocation
NSA-PB SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for National Storage Affiliates Trust (CIK: 0001618563)
📋 Recent SEC Filings
❓ Frequently Asked Questions about NSA-PB
What is the AI rating for NSA-PB?
National Storage Affiliates Trust (NSA-PB) has a Combined AI Rating of HOLD from Claude (HOLD) and ChatGPT (HOLD) with 62% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are NSA-PB's key strengths?
Claude: Exceptional free cash flow margin of 45.0% demonstrates strong cash generation relative to revenue. Solid operating margin of 15.9% reflects efficient cost management in the REIT business model. ChatGPT: Strong operating cash flow and high FCF margin (~45%). Moderate leverage (Debt/Equity ~0.92x) with 3.1x interest coverage.
What are the risks of investing in NSA-PB?
Claude: Revenue declined 2.3% year-over-year, signaling potential market headwinds or operational challenges in the self-storage sector. Diluted EPS fell 41.5% YoY despite 38.4% net income growth, indicating significant share dilution that negatively impacts per-share returns. ChatGPT: Revenue softness (-2.3% YoY) indicating occupancy/rate pressure. EPS down sharply (-41.5% YoY) suggesting dilution or mix effects.
What is NSA-PB's revenue and growth?
National Storage Affiliates Trust reported revenue of $752.9M.
Does NSA-PB pay dividends?
National Storage Affiliates Trust pays dividends, with $174.9M distributed to shareholders in the trailing twelve months.
Where can I find NSA-PB SEC filings?
Official SEC filings for National Storage Affiliates Trust (CIK: 0001618563) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is NSA-PB's EPS?
National Storage Affiliates Trust has a diluted EPS of $0.69.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is NSA-PB a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, National Storage Affiliates Trust has a HOLD rating with 62% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is NSA-PB stock overvalued or undervalued?
Valuation metrics for NSA-PB: ROE of 7.8% (sector avg: 8%), net margin of 9.8% (sector avg: 20%). Compare these metrics with sector averages to assess valuation.
Should I buy NSA-PB stock in 2026?
Our dual AI analysis gives National Storage Affiliates Trust a combined HOLD rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is NSA-PB's free cash flow?
National Storage Affiliates Trust's operating cash flow is $338.5M, with capital expenditures of N/A. FCF margin is 45.0%.
How does NSA-PB compare to other Real Estate stocks?
Vs Real Estate sector averages: Net margin 9.8% (avg: 20%), ROE 7.8% (avg: 8%), current ratio N/A (avg: 1.5).