Financials National Storage Affiliates Trust

Equities

NSA

US6378701063

Specialized REITs

Real-time Estimate Cboe BZX 10:51:54 2024-04-29 am EDT 5-day change 1st Jan Change
35.58 USD +1.90% Intraday chart for National Storage Affiliates Trust +0.28% -14.30%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,994 2,492 6,161 3,281 3,444 2,727 - -
Enterprise Value (EV) 1 3,507 4,468 9,077 3,281 7,038 6,223 6,238 6,248
P/E ratio -224 x 68 x 70.6 x 36.5 x 28 x 38.4 x 109 x -
Yield 3.78% 3.75% 2.3% - 5.38% 6.46% 6.59% 6.65%
Capitalization / Revenue 5.14 x 5.77 x 10.5 x 4.09 x 4.01 x 3.47 x 3.35 x 3.27 x
EV / Revenue 9.04 x 10.3 x 15.5 x 4.09 x 8.2 x 7.93 x 7.65 x 7.49 x
EV / EBITDA 14.2 x 16 x 22.9 x 5.93 x 12.1 x 12.5 x 12 x 11.5 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.13 x 2.65 x 4.8 x - 2.4 x 2.82 x 3.06 x 3.32 x
Nbr of stocks (in thousands) 59,303 69,166 89,031 90,839 83,056 78,105 - -
Reference price 2 33.62 36.03 69.20 36.12 41.47 34.92 34.92 34.92
Announcement Date 2/24/20 2/22/21 2/22/22 2/27/23 2/28/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 387.9 432.2 585.7 801.6 858.1 785.2 815.1 834.2
EBITDA 1 247.5 278.6 396.3 553 581.8 499.5 521.3 541.6
EBIT 1 126.8 147.1 218.2 289.5 336.7 285.5 306.2 329.9
Operating Margin 32.7% 34.04% 37.26% 36.12% 39.24% 36.36% 37.57% 39.55%
Earnings before Tax (EBT) 1 67.36 81.15 148.6 188.5 238.6 157.9 158.7 178.5
Net income 1 -8.407 35.51 92.15 90.31 137.6 102.4 64.34 88.7
Net margin -2.17% 8.22% 15.73% 11.27% 16.04% 13.04% 7.89% 10.63%
EPS 2 -0.1500 0.5300 0.9800 0.9900 1.480 0.9100 0.3200 -
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.270 1.350 1.590 - 2.230 2.256 2.300 2.321
Announcement Date 2/24/20 2/22/21 2/22/22 2/27/23 2/28/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 150.8 173.6 187.2 198.9 206.8 208.7 208 215.5 219.1 215.4 191.5 193 196.7 191.6 196.3
EBITDA 1 102.7 118.8 128.6 136.5 142.1 145.7 141.1 146.6 147.5 146.6 118 121.6 126.2 124 120.1
EBIT 1 58.39 62.74 65.32 72.58 70.36 81.28 80.06 84.09 85.49 87.06 62.68 68.3 74.24 73.67 73.75
Operating Margin 38.71% 36.14% 34.9% 36.49% 34.03% 38.94% 38.49% 39.02% 39.01% 40.42% 32.73% 35.39% 37.74% 38.45% 37.57%
Earnings before Tax (EBT) 1 41.17 43.27 45.63 49.16 42.25 51.41 41.59 46.21 43.99 106.8 38.3 43.4 42.35 35.4 36.27
Net income 1 26.95 22.2 21.95 21.66 18.83 27.88 25 24.33 24.13 63.92 51.85 18.1 16.35 16.05 15.6
Net margin 17.86% 12.79% 11.73% 10.89% 9.11% 13.36% 12.02% 11.29% 11.01% 29.67% 27.08% 9.38% 8.31% 8.38% 7.95%
EPS 2 0.2600 0.2500 0.2400 0.2400 0.2100 0.3100 0.2400 0.2800 0.1651 0.7200 0.6100 0.1100 0.1000 0.0900 -
Dividend per Share 2 0.4100 0.4500 0.5000 0.5500 0.5500 - 0.5500 0.5600 0.5600 0.5600 0.5620 0.5654 0.5654 0.5673 0.5812
Announcement Date 11/2/21 2/22/22 5/4/22 8/3/22 11/2/22 2/27/23 5/1/23 8/7/23 11/1/23 2/28/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,513 1,976 2,916 - 3,593 3,496 3,511 3,521
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 6.114 x 7.092 x 7.357 x - 6.176 x 6.998 x 6.735 x 6.501 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) -1.22% 3.76% 6.72% - 8.97% 14.7% 15.6% 12.3%
ROA (Net income/ Total Assets) - - - - 2.29% 1.01% 1.2% 1.48%
Assets 1 - - - - 6,001 10,151 5,356 6,004
Book Value Per Share 2 15.80 13.60 14.40 - 17.30 12.40 11.40 10.50
Cash Flow per Share 2 - - 2.460 - 3.020 2.750 3.720 4.680
Capex 1 - 16.8 - - 34.2 22 26.5 27.1
Capex / Sales - 3.88% - - 3.99% 2.81% 3.25% 3.25%
Announcement Date 2/24/20 2/22/21 2/22/22 2/27/23 2/28/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
14
Last Close Price
34.92 USD
Average target price
37.57 USD
Spread / Average Target
+7.59%
Consensus
  1. Stock Market
  2. Equities
  3. NSA Stock
  4. Financials National Storage Affiliates Trust