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National-Storage-Affiliates  on October 18, 2023


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National Storage Affiliates Offering Nearly 10-Year High Dividend ... - Seeking Alpha

National Storage Affiliates Trust (NYSE:NSA) has dramatically underperformed the broad market in the last 12 months, as it has declined 21% whereas the S&P 500 has rallied 19% and the Real Estate Select Sector SPDR Fund ETF (XLRE) has shed only 1%. The underperformance of the REIT has resulted primarily from persistent inflation, which has led the Fed to raise interest rates to a 16-year high. High interest rates have nearly doubled the interest expense of National Storage Affiliates while they also exert pressure on its valuation, as they significantly reduce the present value of future cash flows.

seekingalpha.com     Oct 18, 2023