Pulling SEC filings + quote and writing the call…
Pulling SEC filings + quote and writing the call…

National Storage Affiliates Trust
Next earnings Aug 3, 2026 (after close) · consensus $0.17 EPS, $184M rev
Last earnings +0.7% on 2026-05-05
National Storage's revenue and earnings are sliding and leverage is high at 3.75x, but the dividend is still covered by cash flow — a cautious hold.
Sources: SEC EDGAR (CIK 0001618563, latest 10-Q filed 2026-05-05) · EODHD · analysis by claude-code · as of 6/21/2026, 8:57:15 PM.
Research and education only — not financial advice. Calls are generated from SEC filings and a delayed/third-party price feed, may be wrong or out of date, and are not a recommendation to buy or sell any security. Do your own research.
Middling fundamentals and a rich price (~89% above fair value) leave little margin of safety — a wait-and-see.
National Storage Affiliates is a self-storage REIT working through a cyclical downturn after the post-pandemic demand surge faded. The fundamentals are softening: revenue fell 2.3% to $753M (now below the FY2023 peak of $858M), net income dropped 33.8% to $73.8M, and diluted EPS fell 41.5% to $0.69. Operating cash flow also declined 6.8% to $339M. The trend across the income statement is clearly downward, reflecting slower rental-rate growth and normalizing occupancy in the self-storage sector.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $586M | $802M | $858M | $770M | $753M |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $105M | $104M | $157M | $112M | $73.8M |
| Diluted EPS | $0.98 | $0.99 | $1.48 | $1.18 | $0.69 |
| Net margin | 18.0% | 12.9% | 18.3% | 14.5% | 9.8% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
1482 tracked peers · median
Disclosed under the STOCK Act
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
| 2026-05-15 | Meisinger Chad LeRoy Director | Award | 4.70K @ $42.53 | $200K |