Comprehensive Stock Comparison
Compare National Storage Affiliates Trust (NSA) vs Public Storage (PSA) vs Extra Space Storage Inc. (EXR) vs CubeSmart (CUBE) vs Global Self Storage, Inc. (SELF) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | EXR | 27.6% revenue growth vs NSA's -2.3% |
| Value | CUBE | Lower P/E (28.7x vs 31.7x), PEG 0.92 vs 7.10 |
| Quality / Margins | PSA | 39.5% net margin vs NSA's 9.8% |
| Stability / Safety | SELF | Beta 0.06 vs NSA's 0.62 |
| Dividends | NSA | 6.5% yield, 2-year raise streak, vs EXR's 4.3% |
| Momentum (1Y) | PSA | +5.1% vs NSA's -3.4% |
| Efficiency (ROA) | PSA | 9.4% ROA vs NSA's 1.5%, ROIC 13.5% vs 6.2% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
National Storage Affiliates Trust is a real estate investment trust that owns and operates self-storage facilities across major U.S. metropolitan areas. It generates revenue primarily from rental income on storage units — with additional income from tenant insurance, truck rentals, and retail sales — and distributes most profits to shareholders as dividends. Its competitive advantage lies in its strategic focus on high-growth markets and its partnership model that allows it to acquire and manage properties through local operating partners who retain ownership stakes.
Public Storage is a real estate investment trust that owns and operates self-storage facilities across the United States and Europe. It generates revenue primarily through rental income from storage units — with additional income from tenant insurance, truck rentals, and property management services — making it one of the largest self-storage operators globally. The company's competitive advantage lies in its massive scale, prime locations, and strong brand recognition that creates pricing power and operational efficiency.
Extra Space Storage is a real estate investment trust that owns and operates self-storage facilities across the United States. It generates revenue primarily through rental income from storage units — including boat, RV, and business storage — with property management fees contributing additional income. The company benefits from economies of scale as the second-largest self-storage operator in the U.S., leveraging its national brand recognition and sophisticated revenue management systems.
CubeSmart is a real estate investment trust that owns and operates self-storage facilities across the United States. It generates revenue primarily through rental income from storage units—with additional income from tenant insurance, truck rentals, and packing supplies—with property operations contributing over 90% of total revenue. The company's competitive advantage lies in its national brand recognition, technology-enabled customer experience, and strategic locations in high-demand metropolitan areas.
Global Self Storage is a real estate investment trust that owns and operates self-storage facilities across multiple U.S. states. It generates revenue primarily through rental income from storage units—with a mix of residential and commercial customers—and property management fees from its owned and third-party facilities. The company's moat lies in its strategic locations in secondary markets with limited competition and its operational expertise in maximizing occupancy rates and rental yields.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
PSA leads in 3 of 6 categories — strongest in Financial Metrics and Profitability & Efficiency. 3 categories are tied.
Financial Metrics (TTM)
PSA is the larger business by revenue, generating $4.8B annually — 375.8x SELF's $13M. PSA is the more profitable business, keeping 39.5% of every revenue dollar as net income compared to NSA's 9.8%. On growth, CUBE holds the edge at +5.2% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | NSANational Storage … | PSAPublic Storage | EXRExtra Space Stora… | CUBECubeSmart | SELFGlobal Self Stora… |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $753M | $4.8B | $3.3B | $1.1B | $13M |
| EBITDAEarnings before interest/tax | $468M | $3.7B | $2.1B | $711M | $5M |
| Net IncomeAfter-tax profit | $74M | $1.9B | $953M | $357M | $2M |
| Free Cash FlowCash after capex | $300M | $3.1B | $1.9B | $651M | $5M |
| Gross MarginGross profit ÷ Revenue | +46.0% | +73.0% | +67.7% | +63.4% | +62.2% |
| Operating MarginEBIT ÷ Revenue | +37.0% | +53.0% | +43.1% | +41.7% | +24.2% |
| Net MarginNet income ÷ Revenue | +9.8% | +39.5% | +28.9% | +32.2% | +14.1% |
| FCF MarginFCF ÷ Revenue | +39.8% | +65.2% | +57.2% | +58.8% | +36.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | -1.6% | +3.1% | -9.0% | +5.2% | +0.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +53.3% | +21.3% | -14.3% | -18.2% | -60.0% |
Valuation Metrics
At 23.9x trailing earnings, CUBE trades at a 52% valuation discount to NSA's 50.0x P/E. Adjusting for growth (PEG ratio), CUBE offers better value at 0.76x vs NSA's 8.74x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | NSANational Storage … | PSAPublic Storage | EXRExtra Space Stora… | CUBECubeSmart | SELFGlobal Self Stora… |
|---|---|---|---|---|---|
| Market CapShares × price | $2.7B | $53.9B | $32.1B | $9.4B | $58M |
| Enterprise ValueMkt cap + debt − cash | $2.7B | $63.8B | $44.9B | $12.4B | $67M |
| Trailing P/EPrice ÷ TTM EPS | 50.03x | 34.08x | 37.48x | 23.92x | 26.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 57.87x | 30.53x | 31.65x | 28.70x | — |
| PEG RatioP/E ÷ EPS growth rate | 8.74x | 4.57x | 8.40x | 0.76x | — |
| EV / EBITDAEnterprise value multiple | 5.77x | 14.00x | 21.39x | 17.95x | 14.79x |
| Price / SalesMarket cap ÷ Revenue | 3.59x | 11.17x | 9.60x | 8.80x | 4.61x |
| Price / BookPrice ÷ Book value/share | 1.75x | 5.78x | 2.15x | 3.16x | 1.20x |
| Price / FCFMarket cap ÷ FCF | 9.00x | 16.91x | 17.17x | 14.87x | 13.60x |
Profitability & Efficiency
PSA delivers a 20.1% return on equity — every $100 of shareholder capital generates $20 in annual profit, vs $4 for SELF. NSA carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to PSA's 1.10x. On the Piotroski fundamental quality scale (0–9), NSA scores 7/9 vs CUBE's 5/9, reflecting strong financial health.
| Metric | NSANational Storage … | PSAPublic Storage | EXRExtra Space Stora… | CUBECubeSmart | SELFGlobal Self Stora… |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +4.8% | +20.1% | +6.6% | +12.5% | +3.8% |
| ROA (TTM)Return on assets | +1.5% | +9.4% | +3.3% | +5.3% | +2.8% |
| ROICReturn on invested capital | +6.2% | +13.5% | +3.7% | +6.1% | +3.8% |
| ROCEReturn on capital employed | +5.7% | +17.1% | +5.0% | +8.1% | +4.5% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 5 | 5 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.01x | 1.10x | 0.88x | 1.03x | 0.34x |
| Net DebtTotal debt minus cash | -$708,000 | $9.9B | $12.9B | $3.0B | $9M |
| Cash & Equiv.Liquid assets | $23M | $318M | $138M | $72M | $7M |
| Total DebtShort + long-term debt | $23M | $10.3B | $13.0B | $3.1B | $16M |
| Interest CoverageEBIT ÷ Interest expense | 1.72x | 11.19x | 2.22x | — | 3.29x |
Total Returns (with DRIP)
A $10,000 investment in PSA five years ago would be worth $16,046 today (with dividends reinvested), compared to $11,842 for NSA. Over the past 12 months, PSA leads with a +5.1% total return vs NSA's -3.4%. The 3-year compound annual growth rate (CAGR) favors PSA at 4.7% vs NSA's -0.4% — a key indicator of consistent wealth creation.
| Metric | NSANational Storage … | PSAPublic Storage | EXRExtra Space Stora… | CUBECubeSmart | SELFGlobal Self Stora… |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +25.6% | +18.8% | +15.3% | +17.7% | 0.0% |
| 1-Year ReturnPast 12 months | -3.4% | +5.1% | +3.2% | +4.7% | +3.1% |
| 3-Year ReturnCumulative with dividends | -1.2% | +14.8% | +3.5% | +0.6% | +5.7% |
| 5-Year ReturnCumulative with dividends | +18.4% | +60.5% | +46.2% | +38.4% | +45.2% |
| 10-Year ReturnCumulative with dividends | +183.1% | +64.9% | +140.5% | +88.4% | +100.6% |
| CAGR (3Y)Annualised 3-year return | -0.4% | +4.7% | +1.2% | +0.2% | +1.9% |
Risk & Volatility
SELF is the less volatile stock with a 0.06 beta — it tends to amplify market swings less than NSA's 0.62 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PSA currently trades 95.2% from its 52-week high vs NSA's 86.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | NSANational Storage … | PSAPublic Storage | EXRExtra Space Stora… | CUBECubeSmart | SELFGlobal Self Stora… |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.62x | 0.45x | 0.56x | 0.53x | 0.06x |
| 52-Week HighHighest price in past year | $40.62 | $322.49 | $160.58 | $44.13 | $5.89 |
| 52-Week LowLowest price in past year | $27.43 | $256.54 | $121.03 | $34.24 | $4.73 |
| % of 52W HighCurrent price vs 52-week peak | +86.2% | +95.2% | +94.1% | +93.2% | +86.6% |
| RSI (14)Momentum oscillator 0–100 | 61.1 | 64.2 | 58.2 | 63.9 | 48.3 |
| Avg Volume (50D)Average daily shares traded | 1.2M | 959K | 1.1M | 2.0M | 34K |
Analyst Outlook
Analyst consensus: NSA as "Hold", PSA as "Hold", EXR as "Hold", CUBE as "Hold". Consensus price targets imply 1.5% upside for CUBE (target: $42) vs -8.6% for NSA (target: $32). For income investors, NSA offers the higher dividend yield at 6.52% vs EXR's 4.30%.
| Metric | NSANational Storage … | PSAPublic Storage | EXRExtra Space Stora… | CUBECubeSmart | SELFGlobal Self Stora… |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold | Hold | Hold | — |
| Price TargetConsensus 12-month target | $32.00 | $301.22 | $150.00 | $41.75 | — |
| # AnalystsCovering analysts | 19 | 36 | 28 | 29 | — |
| Dividend YieldAnnual dividend ÷ price | +6.5% | — | +4.3% | +4.9% | +5.7% |
| Dividend StreakConsecutive years of raises | 2 | 0 | 15 | 15 | 3 |
| Dividend / ShareAnnual DPS | $2.28 | — | $6.50 | $2.03 | $0.29 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| National Storage Af… (NSA) | 100 | 89.45 | -10.6% |
| Public Storage (PSA) | 100 | 123.97 | +24.0% |
| Extra Space Storage… (EXR) | 100 | 128.27 | +28.3% |
| CubeSmart (CUBE) | 100 | 116.58 | +16.6% |
| Global Self Storage… (SELF) | 100 | 120.57 | +20.6% |
Public Storage (PSA) returned +60% over 5 years vs National Storage Af… (NSA)'s +18%. A $10,000 investment in PSA 5 years ago would be worth $16,046 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| National Storage Af… (NSA) | $199M | $753M | +278.3% |
| Public Storage (PSA) | $2.6B | $4.8B | +88.4% |
| Extra Space Storage… (EXR) | $1.0B | $3.3B | +232.2% |
| CubeSmart (CUBE) | $510M | $1.1B | +109.0% |
| Global Self Storage… (SELF) | $5M | $13M | +151.8% |
National Storage Affiliates Trust's revenue grew from $199M (2016) to $753M (2025) — a 15.9% CAGR. Public Storage's revenue grew from $2.6B (2016) to $4.8B (2025) — a 7.3% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| National Storage Af… (NSA) | 9.0% | 9.8% | +8.6% |
| Public Storage (PSA) | 56.8% | 37.3% | -34.4% |
| Extra Space Storage… (EXR) | 36.4% | 25.6% | -29.7% |
| CubeSmart (CUBE) | 17.2% | 36.7% | +112.9% |
| Global Self Storage… (SELF) | 7.7% | 16.9% | +119.6% |
National Storage Affiliates Trust's net margin went from 9% (2016) to 10% (2025). Public Storage's net margin went from 57% (2016) to 37% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| National Storage Af… (NSA) | 101.8 | 40.3 | -60.4% |
| Public Storage (PSA) | 31.1 | 28.8 | -7.4% |
| Extra Space Storage… (EXR) | 23.3 | 37.1 | +59.2% |
| CubeSmart (CUBE) | 39.1 | 24.9 | -36.3% |
| Global Self Storage… (SELF) | 48.3 | 28.1 | -41.8% |
National Storage Affiliates Trust has traded in a 28x–102x P/E range over 8 years; current trailing P/E is ~50x. Public Storage has traded in a 12x–38x P/E range over 9 years; current trailing P/E is ~34x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| National Storage Af… (NSA) | 0.31 | 0.7 | +125.8% |
| Public Storage (PSA) | 6.81 | 9.01 | +32.3% |
| Extra Space Storage… (EXR) | 2.91 | 4.03 | +38.5% |
| CubeSmart (CUBE) | 0.45 | 1.72 | +282.2% |
| Global Self Storage… (SELF) | 0.05 | 0.19 | +280.0% |
National Storage Affiliates Trust's EPS grew from $0.31 (2016) to $0.70 (2025) — a 9% CAGR. Public Storage's EPS grew from $6.81 (2016) to $9.01 (2025) — a 3% CAGR.
Chart 6Free Cash Flow — 5 Years
National Storage Affiliates Trust generated $300M FCF in 2025 (-1% vs 2021). Public Storage generated $3B FCF in 2025 (+40% vs 2021).
NSA vs PSA vs EXR vs CUBE vs SELF: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is NSA or PSA or EXR or CUBE or SELF a better buy right now?
CubeSmart (CUBE) offers the better valuation at 23.9x trailing P/E (28.7x forward), making it the more compelling value choice. Analysts rate National Storage Affiliates Trust (NSA) a "Hold" — based on 19 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — NSA or PSA or EXR or CUBE or SELF?
On trailing P/E, CubeSmart (CUBE) is the cheapest at 23.9x versus National Storage Affiliates Trust at 50.0x. On forward P/E, CubeSmart is actually cheaper at 28.7x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: CubeSmart wins at 0.92x versus National Storage Affiliates Trust's 10.11x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — NSA or PSA or EXR or CUBE or SELF?
Over the past 5 years, Public Storage (PSA) delivered a total return of +60.5%, compared to +18.4% for National Storage Affiliates Trust (NSA). A $10,000 investment in PSA five years ago would be worth approximately $16K today (assuming dividends reinvested). Over 10 years, the gap is even starker: NSA returned +183.1% versus PSA's +64.9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — NSA or PSA or EXR or CUBE or SELF?
By beta (market sensitivity over 5 years), Global Self Storage, Inc. (SELF) is the lower-risk stock at 0.06β versus National Storage Affiliates Trust's 0.62β — meaning NSA is approximately 915% more volatile than SELF relative to the S&P 500. On balance sheet safety, National Storage Affiliates Trust (NSA) carries a lower debt/equity ratio of 1% versus 110% for Public Storage — giving it more financial flexibility in a downturn.
05Which has better profit margins — NSA or PSA or EXR or CUBE or SELF?
Public Storage (PSA) is the more profitable company, earning 37.3% net margin versus 9.8% for National Storage Affiliates Trust — meaning it keeps 37.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PSA leads at 70.6% versus 23.1% for SELF. At the gross margin level — before operating expenses — EXR leads at 76.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is NSA or PSA or EXR or CUBE or SELF more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, CubeSmart (CUBE) is the more undervalued stock at a PEG of 0.92x versus National Storage Affiliates Trust's 10.11x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, CubeSmart (CUBE) trades at 28.7x forward P/E versus 57.9x for National Storage Affiliates Trust — 29.2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CUBE: 1.5% to $41.75.
07Which pays a better dividend — NSA or PSA or EXR or CUBE or SELF?
In this comparison, NSA (6.5% yield), SELF (5.7% yield), CUBE (4.9% yield), EXR (4.3% yield) pay a dividend. PSA does not pay a meaningful dividend and should not be held primarily for income.
08Is NSA or PSA or EXR or CUBE or SELF better for a retirement portfolio?
For long-horizon retirement investors, Global Self Storage, Inc. (SELF) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.06), 5.7% yield, +100.6% 10Y return). Both have compounded well over 10 years (SELF: +100.6%, PSA: +64.9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between NSA and PSA and EXR and CUBE and SELF?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: NSA is a small-cap income-oriented stock; PSA is a mid-cap quality compounder stock; EXR is a mid-cap income-oriented stock; CUBE is a small-cap income-oriented stock; SELF is a small-cap income-oriented stock. NSA, EXR, CUBE, SELF pay a dividend while PSA does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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