National Storage Affiliates Trust

Symbol: NSA
CIK: 1618563
Exchange: NYSE
Founded: 2013 (7 years)
HQ: Greenwood Village, CO, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Self Storage

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Overall Score: 7.4

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REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day January 17, 2020


Open Price: $35.11
Closing Price: $34.95
Price Change: -0.09 (-0.257%)
Lowest Price: $34.87
Highest Price: $35.23

52-Week Low: $26.17
52-Week High: $35.76
52-Week Change: 29.69%

5 Day Price Change: 2.91%
1 Month Price Change: 7.52%
3 Month Price Change: 1.65%
6 Month Price Change: 16.03%
YTD Price Change: 5.01%
1 Year Price Change: 30.02%
2 Year Price Change: 34.61%
5 Year Price Change: 169.54%

Dividend of Trading Day January 17, 2020


Dividend Yield: 3.777%*
Annualized Dividend: $1.32*
Dividend Yield (TTM): 3.548%
Annualized Dividend (TTM): $1.24
Ex Dividend Date: 2019-12-12
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


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Key Stats of Trading Day January 17, 2020


Total Cash: $16,363,000
Current Debt: $4,767,000
Revenue: $256,413,000
Gross Profit: $122,791,000
Total Revenue: $256,413,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $115,655,000
Revenue Per Share: $4
Revenue Per Employee: $164,262
Employee: 1,561
Debt to Equity Ratio (D/E): 1.39
Profit Margin: 0.05%
Enterprise Value (EV): $4,472,658,098
Enterprise Value to Revenue (EV/R): 17.44
Price to Sales (P/S): 12.52
Price to Book (P/B): 2.26
Peg Ratio: 0.10
P/E Ratio: -73.92
P/E High: -358.62
P/E Low: -262.45
Forward P/E Ratio: -71.33
Market Capitalization: $3,202,671,874
Beta: 0.26
Latest Volume: 310,471.00
Avg. Total Volume: 423,754
Avg. 10 Volume: 279,708.60
Avg. 30 Volume: 423,753.83
TTM EPS: -0.47
TTM Dividend Rate: 1.24
Shares Outstanding: 59,329,000
Float: 58,885,278.00
50-Day Moving Avg.: 33.36
200-Day Moving Avg.: 31.71

Properties Owned by NSA


Properties Based on REIT's Official Presentation

Properties Types States Countries
552 1 29 1

Please visit REIT’s official webpage for the most up-to-date property list.

NSA Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate


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Dividend History


Below are the most recent cash dividends paid by NSA. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Current Cash 50,206,000 0 0 0
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 228,895,000 235,481,000 248,599,000 261,289,000
Property, Plant & Equipment Net 32,283,000 24,675,000 24,694,000 1,574,000
Goodwill 5,750,000 5,750,000 5,750,000 5,750,000
Intangible Assets 31,774,000 -5,750,000 18,297,000 16,320,000
Other Assets 8,243,000 60,983,000 7,556,000 26,503,000
Net Tangible Assets 864,535,000 903,978,000 857,715,000 882,365,000
Total Assets 3,110,797,000 3,061,855,000 2,896,031,000 2,729,263,000
Accounts Payable 0 0 0 0
Liabilities (Other) 94,878,000 66,135,000 53,751,000 48,862,000
Current Liabilities (Other) 0 0 0 0
Total Current Liabilities 0 0 0 0
Current Long-term Debt 1,111,000 2,351,000 3,588,000 4,767,000
Long-term Debt 1,557,201,000 1,493,799,000 1,434,355,000 1,273,335,000
Total Liabilities 1,653,591,000 1,563,071,000 1,492,843,000 1,326,964,000
Minority Interest 25,374,000 25,389,000 5,529,000 21,119,000
Common Stock 59,328,388 593,000 567,000 567,000
Retained Earnings -187,305,000 -156,192,000 -126,309,000 -114,122,000
Treasury Stock 0 0 0 0
Capital Surplus 901,530,000 901,499,000 839,162,000 844,276,000
Shareholder Equity 915,702,000 957,576,000 893,446,000 916,839,000

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Total Revenue 100,398,000 95,419,000 90,572,000 70,084,000
Cost of Revenue 61,786,000 53,019,000 55,106,000 29,634,000
Gross Profit 38,612,000 42,400,000 35,466,000 40,450,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 68,525,000 64,189,000 61,072,000 40,240,000
Operating Income 31,452,000 30,925,000 28,843,000 29,652,000
Income Expense Net (Other) -14,715,000 -12,948,000 -15,411,000 -14,820,000
EBIT 31,452,000 30,925,000 28,843,000 29,652,000
Interest Income 13,493,000 13,947,000 13,211,000 12,947,000
Pretax Income 16,737,000 17,977,000 13,432,000 14,832,000
Income Tax 223,000 244,000 492,000 349,000
Minority Interest 25,374,000 25,389,000 5,529,000 21,119,000
Net Income -8,868,000 -7,656,000 7,402,000 -6,642,000
Net Income Basic -12,140,000 -10,913,000 4,814,000 -9,229,000

Cash Flow

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Net Income -8,868,000 -7,656,000 7,402,000 -6,642,000
Depreciation 27,598,000 25,829,000 24,349,000 -53,379,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 30,453,000 330,000 3,060,000 -3,386,000
Cash Flow 56,606,000 47,077,000 47,415,000 38,133,000
Capital Expenditures -12,089,000 -6,526,000 -4,333,000 -4,805,000
Investments -34,384,000 -161,877,000 -139,579,000 -49,345,000
Investing Activity (Other) 0 -6,600,000 0 0
Total Investing Cash Flows -46,298,000 -174,367,000 -144,723,000 -53,953,000
Dividends Paid -22,253,000 -22,227,000 -19,598,000 -19,583,000
Net Borrowings 61,793,000 54,775,000 136,700,000 48,759,000
Cash Flow Financing 20,145,000 127,620,000 100,368,000 12,434,000
Financing Cash Flows (Other) -19,377,000 -19,078,000 -16,684,000 -17,469,000
Exchange Rate Effect 0 0 0 0

About National Storage Affiliates Trust


National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self-storage properties located within the top 100 metropolitan statistical areas throughout the United States. The Company currently holds ownership in and operates 483 self storage properties located in 28 states with approximately 30 million rentable square feet, and is one of the largest operators of self storage properties among public and private companies in the U.S.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
8 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 5.4
4 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.6
10 Dividend to FFO Core Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Core Payout Ratios during the last four quarters. 8.9
10 Dividend to FFO Core Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Core Payout Ratios trend during the last two years. 7.8
Rating AFFO & Efficiency Section Avg. Rating
10 FFO Core Trend: Analysis of the REIT’s FFO Core trend during the last two years. 8.7
6 FFO Core to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.7
6 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 7.2
7 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 8.1
Rating Leverage Section Avg. Rating
4 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 5.0
3 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 5.9
9 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.8
5 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 7.4
6 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.1
6 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
9 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.8
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
Rating Properties Section Avg. Rating
8 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 8.3
8 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.2
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
8 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 7.9
7.4 Overall REITRating™ Score 6.5

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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