A Different Kind of NSA on 9/11

It is tough to get too excited from the bull perspective about very much in the REIT space these days. As for residential housing, we know the knee-jerk reaction to the events of this year has seen movement away from cities into more suburban and even rural areas, if not sunnier states with lower taxes, i.e., more ideal places to work remotely. 

Still, after the initial surge of that trend abates it will come down to whether many of those lost jobs come back, what rates do, and whether banks loosen lending standards to goose the economy. 

In the meantime, a REIT like National Storage Affiliates, below on its tightly-basing daily chart, is making a good deal of sense here. 

From its website,

"National Storage Affiliates is a self-administered, self-managed real estate investment trust, dedicated to the ownership, operation and acquisition of high quality regional self storage facilities located within high growth markets."

With about a 4% divvi, there may be worse places to park your cash (literally in this case).

NSA could easily benefit from the trend of folks quickly moving locations but needing storage in the interim to manage the moves more efficiently. Or maybe folks who are in limbo, such as younger people who were renting in NYC but due to the pandemic moved back in with their parents during the pandemic to work remotely (or were laid off). 

Either way, NSA is one of the few REITs I think could not only avoid the pain of what is likely coming for most commercial real estate in the coming quarters, but actually thrive from it.