$National Storage Affiliates Trust (NSA.US)$It is self-servi...
$National Storage Affiliates Trust(NSA.US$It is self-service warehousing. Revenue, operating profit, and net profit have all continued to grow over the past 5 years, with average growth rates of 24.5%, 30%, and 32%, respectively.
In the first half of 2023, revenue increased by 9.7%, operating profit increased by 19%, and net profit shrank by 7.9% due to a sharp increase in interest expenses.
Long-term loans have reached $3.09 billion, 1.3 times the net assets of $2,384 million. The leverage ratio is too high, and it has reached the point where it affects net profit.
Currently, the price-earnings ratio is 34.3, the price-earnings ratio TTM has dropped to 31.8, and the dividend rate is 6.5%. It is possible to observe the impact of interest expenses over a few more quarters before making a judgment.
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