Added to YB: 2023-02-21
Pitch date: 2023-02-21
NSA [bullish]
National Storage Affiliates Trust
Author Info
No bio for this author
Company Info
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.
Market Cap
$3.4B
Pitch Price
N/A
Price Target
N/A
Dividend
5.25%
EV/EBITDA
16.50
P/E
57.92
EV/Sales
10.26
Sector
Specialized REITs
Category
special_situation
National Storage Affiliates: Cheap, Strong Dividend, And Potentially An M&A Target
NSA: Cheapest self-storage REIT at <15x FFO vs peers 18-19x; 5.3% yield vs 3-4% industry. Q rev +11% YoY, FFO 57c→72c; dividend hiked from 35c to 55c since 2020. $5.2B cap, ideal M&A target post-PSA's $11B hostile Life Storage bid. 20-25% upside on re-rating alone, more if acquired.
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