Public Storage (PSA) vs. National Storage Affiliates Trust (NSA) Stock Comparison & Valuation | Edwyn

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Public Storage (PSA) vs. National Storage Affiliates Trust (NSA) Stock Comparison & Valuation | Edwyn

Updated 2026-06-02 04:49 UTC

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PSA screens as the stronger operating business versus NSA, but the valuation gap is not obviously cheap versus its own history and DCF range, so the case is more quality-supported than clearly mispriced.

Actionable Takeaway

If you believe PSA can sustain its superior margins and positive revenue growth while the market continues to reward those fundamentals, then hold or accumulate PSA because it is operationally stronger than NSA and less levered, even though the DCF range implies upside is not guaranteed.

On the provided P/E-based implied price, PSA would be worth $541.25 versus a current price of $295.80, implying 83.0% upside, but that output should be treated cautiously because it depends on the valuation framework rather than a full intrinsic cross-check. PSA trades at 32.8x P/E versus NSA at 60.1x, while PSA also carries a higher P/S multiple, suggesting the market is paying up for PSA’s stronger earnings profile rather than discounting it.

Supporting Metrics

Key Risks

PSA’s DCF range of $154.19 - $208.61 is well below the current price of $295.80, which suggests valuation downside under that framework.
PSA’s Piotroski F-Score of 5/9 signals only moderate financial quality, not a clear high-conviction quality screen.
NSA’s leverage is much higher at 8.7x net debt/EBITDA, highlighting sector and balance-sheet comparison risk if conditions weaken.