GREENWOOD VILLAGE, Colo. - National Storage Affiliates Trust (NYSE: NYSE:NSA), a real estate investment trust focused on self-storage properties, announced today the election of Michael Schall to its Board of Trustees. Schall's appointment, effective on Monday, includes roles on the Audit and Finance Committees.
Executive Chairperson of the Board of Trustees, Tamara Fischer, expressed confidence in Schall’s election, citing his extensive background in executive leadership and his previous board experiences as valuable assets for NSA's strategic growth and value creation for stakeholders.
Schall brings a wealth of experience from his tenure at Essex Property Trust (NYSE: NYSE:ESS), where he served as President and CEO until the first quarter of 2023, and prior roles within the company including Chief Operating Officer and Chief Financial Officer. His industry expertise is further supported by his current board membership at Pebblebrook Hotel Trust (NYSE: NYSE:PEB), his academic background as a B.S. graduate from the University of San Francisco, and his status as an inactive Certified Public Accountant. Schall is also involved with the National Multifamily Housing Council and AICPA.
Ferguson Partners assisted NSA in the recruitment process, leveraging their specialization in executive searches for the REIT industry.
Looking ahead, NSA management is set to take part in the Nareit REITweek: 2024 Investor Conference, scheduled for June 4 - 6, 2024 in New York City.
National Storage Affiliates Trust operates over 1,050 self-storage properties across 42 states and Puerto Rico, making it one of the largest owners and operators in the sector. The company is included in several major indices, including the MSCI US REIT Index, the Russell 1000, and the S&P MidCap 400.
InvestingPro Insights
National Storage Affiliates Trust (NYSE: NSA), while expanding its board with industry veterans, also showcases a financial profile that reflects a commitment to shareholder returns and a robust operational performance. According to InvestingPro data, NSA has a market capitalization of $4.15 billion and is trading at a P/E ratio of 18.7, which adjusts to a notably higher 28.76 when looking at the last twelve months as of Q1 2024. Despite this, the company's PEG Ratio for the same period stands at an attractive 0.19, suggesting potential for earnings growth compared to its P/E ratio.
InvestingPro Tips highlight that NSA has been consistent in rewarding its investors, having raised its dividend for 9 consecutive years, with a current dividend yield of 6.09%. This is coupled with a substantial 25.71% price total return over the past six months. These factors underscore NSA's appeal to income-focused investors and those looking for capital appreciation.
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