NSA - National Storage: Upside Remains After My Last Article

2024-07-04 20:53:38 ET

Summary

• National Storage Affiliates (NSA) has seen over 20% outperformance since the last update.
• NSA is executing strategic initiatives, including asset rotation and JV partnerships, to improve portfolio concentration and generate capital.
• Despite projected FFO decline, NSA remains appealing due to valuation, potential growth, and historical performance.

Dear subscribers,

I have for some time covered self-storage and storage REITs, and my two main investments in the NA geography here are National Storage ( NSA ) and Public Storage ( PSA ). This article will be an update on National Storage, a company that since my last piece on the company has seen a significant outperformance of over 20%.

This, and the subscriber/reader request for an update, warrants me updating my thesis on NSA at this time, and showing you why I'm still of a positive mindset as to this company....

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