National Storage Affiliates: A Distressed REIT With A Premium Valuation
National Storage Affiliates(NSA) Seeking Alpha·2024-06-11 03:44
Jitalia17/E+ via Getty ImagesIntroduction National Storage Affiliates (NYSE:NSA) has largely performed in line with the Vanguard Real Estate Index Fund ETF (VNQ) so far in 2024, posting a mid-single-digit negative price return. NSA vs VNQ in 2024 (Seeking Alpha)I expect the company to continue performing in line with the sector index as operational performance has soured significantly in 2024 while the enterprise-value valuation is yet to reflect the change in underlying market dynamics. As such, I am ...