OppCo position in National Storage Affiliates Trust highlights growth potential in self-storage real estate

 On May 15, 2023, Oppenheimer & Co. Inc. made a significant financial move by acquiring a new position in National Storage Affiliates Trust (NYSE:NSA). According to the most recent Form 13F filing with the SEC, the firm purchased over 10 thousand shares of the real estate investment trust’s stock, valued at approximately $389,000.

While this new position is certainly noteworthy, it’s important to take a closer look at National Storage Affiliates Trust and its recent performance in order to gain a better understanding of what makes it an attractive investment opportunity.

National Storage Affiliates Trust operates as a real estate investment trust that specializes in the ownership and operation of self-storage properties located within metropolitan statistical areas throughout the United States. The company was founded by Arlen D. Nordhagen in April 2013 and is headquartered in Greenwood Village, CO.

Looking back at its most recent quarterly earnings report from February 28th, National Storage Affiliates Trust reported $0.31 EPS for the quarter, falling short of the consensus estimate of $0.71 by ($0.40). While this may seem concerning at first glance, it’s important to note that the company still managed to generate revenue of $208.72 million for the quarter, exceeding analyst estimates of $204.82 million.

Furthermore, National Storage Affiliates Trust had a return on equity of 4.93% and a net margin of 13.07%, indicating that despite missing EPS expectations slightly, it’s still generating strong returns on its investments and maintaining healthy operating margins.

Additionally, it’s worth noting that National Storage Affiliates Trust saw a year-over-year increase in revenue of over 20%, indicating strong growth potential moving forward.

With all this considered, many analysts are predicting that National Storage Affiliates Trust will post solid earnings numbers throughout the rest of this fiscal year, with estimates for 2.83 earnings per share.

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