National Storage Affiliates Trust

NSA

Market cap $3.29B

REITs are finally rallying after a brutal 5-year bear market. The main bear arguments are now starting to break down. Private equity is already buying before valuations recover.

REIT buyouts are heating up as private equity targets deep discounts. We recently profited from three REIT takeovers. Two small REITs could be next, with big upside potential.

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--National Storage Affiliates Trust Announces Quarterly Dividends.

Not Every REIT Joined The Rally: Part 2 focuses on laggards and in-line performers - sectors where recovery timelines slipped, results underwhelmed, or elevated rates exposed lingering balance sheet issues. Weakness centered on Farmland, Commercial Mortgage, Lab Space, and Self-Storage REITs, where delayed troughs, credit provisions, book-value pressure, weak rents, and refinancing constraints persisted. Mortgage Stress Hasn't Fully Cleared: Commercial mortgage REITs still faced multifamily bridge-loan and office credit stress, while residential mortgage REITs saw book values pressured by rate volatility and uneven dividend-coverage.

REIT earnings results were considerably better than consensus expectations, with 58 REITs - or 59% - raising full-year FFO guidance, well above the typical Q1 raise rate of 40-45%. REITs have extended their year-to-date outperformance despite the recent jump in interest rates, as better earnings results and improving property-level trends helped offset renewed macro pressure. Upside standouts included Hotel, Senior Housing, Data Center, Billboard, Cold Storage, Net Lease, and Retail REITs. Residential REITs saw improving rent growth trends as supply growth finally eases.

REITs are rallying, but some laggards remain deeply discounted. Temporary oversupply has created rare buying opportunities. These undervalued REITs could be next to recover.

National Storage (NSA) came out with quarterly funds from operations (FFO) of $0.57 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to FFO of $0.54 per share a year ago.

Although the revenue and EPS for National Storage (NSA) give a sense of how its business performed in the quarter ended March 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--National Storage Affiliates Trust Reports First Quarter 2026 Results.

Some of the cheapest REITs are in sectors hit by temporary oversupply. Storage and life science stand out as especially discounted today. Patient investors may find rare long-term upside in the selloff.