National Storage Affiliates Trust (NSA)
NYSEReal EstateReit - IndustrialSnapshot 2026-09-04
$43.410.00%
Close 2026-07-22 · 1-day change
NYSEReal EstateReit - IndustrialSnapshot 2026-09-04
QuarterlyIQ Insights · NSA
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance dropped from the top half to the bottom half of its industry over the past month — the reason to own it has weakened.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | 22.5% |
| Our one-year growth estimate | diamond | 2.1% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the same direction.
Price observations: 365 days
Most sensitive to the broad stock market.
Based on historical daily prices through 2026-09-04.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 20.4 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-09-04 · Compared with 16 industry peers · Company calendar date is not available
NSA — legal / regulatory event — Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standar…
Dated 2026-07-22
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. The information set forth in the Introductory Note and under
Why it matters: Same store NOI growth shows how well the business runs. Good trends back up the merger.
Supportive ifSame store NOI growth exceeds 2% year-over-year in Q2 2026.
Worry ifSame store NOI growth is negative or below 0% in Q2 2026.
Why it matters: Changes in the dividend may show management's view on cash flow after the merger.
Watch forManagement maintains the dividend at $0.57 per share.
Also watch forManagement cuts the dividend below $0.57 per share.
Why it matters: Higher occupancy rates show more demand. This can lead to more money coming in.
Supportive ifSame store occupancy reaches above 85% in the next quarter.
Worry ifSame store occupancy falls below 84.5% in the next quarter.
Why it matters: If the real estate sector shows renewed growth, it could benefit NSA's performance. This is crucial for future prospects.
Supportive ifSector revenue growth returns to above 3% year over year.
Worry ifSector revenue growth is still below 0%. This shows it is slowing down.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
A larger daily loss that occurred about once in every 20 trading days.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$110 on $10,000 · ±1.1% | How much price usually moves either way. |
| Bad day | $241 loss on $10,000 · 2.4% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $1,417 loss on $10,000 · 14.2% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: Keeping the dividend shows financial strength. It also shows care for shareholders.
Supportive ifThe company announces a dividend per share of $0.57 or higher.
Worry ifThe company announces a cut in the dividend per share below $0.57.
Why it matters: Same store NOI growth is important. It helps us see how well the business runs.
Supportive ifSame store NOI growth turns positive after a decline in previous quarters.
Worry ifSame store NOI continues to decline year over year.
Why it matters: The merger is a key growth strategy for NSA. Completion will determine future operations and shareholder value.
Supportive ifThe merger closes on or before July 22, 2026, with all conditions met.
Worry ifThe merger is delayed past July 22, 2026, or fails to meet conditions.
Why it matters: Core FFO is a key measure of NSA's profitability. Meeting guidance affects investor confidence.
Watch forCore FFO per share meets or exceeds the guidance range of $2.13 to $2.25.
Also watch forCore FFO per share falls below the guidance range.