What are some of NSA biggest competitors also how did they perform after earnings results
8/4/2024 08:11pm
**National Storage Affiliates Trust (NSA) faces competition from several key players in the self-storage industry.** Here are some of its main competitors and their performance after earnings results:
1. **Public Storage (PSA)**:
- **Financial Performance**: Public Storage reported a revenue of $3.4 billion in 2023.
- **Recent Developments**: Public Storage acquired Simply Self Storage for $2.2 billion, marking the largest acquisition in the company's history.
2. **Extra Space Storage Inc. (EXR)**:
- **Financial Performance**: Extra Space Storage reported a revenue of $1.53 billion in 2023.
- **Recent Developments**: Extra Space Storage opened 21 new facilities in Houston.
3. **CubeSmart (CUBE)**:
- **Financial Performance**: CubeSmart reported a revenue of $781 million in 2023.
- **Recent Developments**: CubeSmart's second-quarter net operating income decreased 1.2% year over year.
4. **StorageMart**:
- **Financial Performance**: StorageMart has a portfolio of 20 million net rentable square feet across the U.S., Canada, and the U.K..
- **Recent Developments**: StorageMart acquired Manhattan Mini Storage for $3 billion, expanding its presence in the market.
5. **Merit Hill Capital**:
- **Financial Performance**: Merit Hill Capital has a portfolio of 15.6 million square feet across 33 states.
- **Recent Developments**: Merit Hill Capital uses third-party operators to manage its properties, including Extra Space Storage and CubeSmart.
6. **National Storage**:
- **Financial Performance**: National Storage reported a net income of $95.09 million and a diluted EPS of $0.65 for the latest quarter.
- **Recent Developments**: National Storage has a diverse range of self-storage solutions and operates in over 80 locations.
**Competitors' Performance After Earnings Results**:
1. **Public Storage (PSA)**: Public Storage's financial reports and quarterly results are not available.
2. **Extra Space Storage Inc. (EXR)**: Extra Space Storage reported financial results for the third and fourth quarters of 2023, which showed strong performance with funds from operations (FFO) and revenue exceeding estimates.
3. **CubeSmart (CUBE)**: CubeSmart's financial statements show a net operating income decrease of 1.2% year over year, resulting from 0.3% revenue growth and a 4.2% increase in operating expenses.
4. **StorageMart**: StorageMart's acquisition of Manhattan Mini Storage indicates a strategic expansion, but financial performance details are not available.
5. **Merit Hill Capital**: Merit Hill Capital's use of third-party operators suggests a focus on growth through partnerships, but specific financial performance is not available.
6. **National Storage**: NSA's financial performance shows strong net income growth, but the industry faces challenges and competitive pressures.
In conclusion, while NSA has demonstrated strong net income growth, the self-storage industry is competitive, and market conditions can impact stock performance. Investors should consider the company's financial performance, industry trends, and future business ventures when evaluating the stock's potential after earnings results.