Loading institutional data...
Loading institutional data...
Held by 314 of 5,944 reporting institutions (95th percentile) — extremely crowded.
Data as of Q1 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading quality & risk...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
4/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 58% of free cash flow, leaving room to grow it and fund buybacks. Last year: $175M dividends + $0 buybacks = $175M returned on $300M FCF.
1 consecutive years of dividend increases · 16%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 2%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $23M covers the $16M due within a year 1.4× over. Scheduled principal only (excludes interest & revolver draws). As of 2024-09-30 (10-Q).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~4.8% on $3.4B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
No current price collected.
No material risks flagged.
Where each multiple sits in its own 11-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 11-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 31.4 | 28.4 | 28.6 | 26.5 | 26.3 | 26.7 | 27.5 | 28.9 |
| SG&A | 10.9 | 11.4 | 10.1 | 8.7 | 7.4 | 6.9 | 7.5 | 6.8 |
| Operating Income | 30.7 | — | — | — | — | — | — | — |
| Income Tax | 0.2 | 0.3 | 0.4 | 0.3 | 0.6 | 0.2 | 0.5 | 0.4 |
| Net Income | 4.3 | 1.0 | 11.2 | 18.0 | 12.9 | 18.3 | 14.5 | 9.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NSA: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $752.9M 100.0% | $770.3M 100.0% | $858.1M 100.0% | $801.6M 100.0% | $585.7M 100.0% | $432.2M 100.0% | $387.9M 100.0% | $330.9M 100.0% | $268.1M 100.0% | $199.0M 100.0% |
| Cost of Revenue | $217.5M 28.9% | $211.9M 27.5% | $229.0M 26.7% | $211.0M 26.3% | $155.3M 26.5% | $123.5M 28.6% | $110.3M 28.4% | $103.9M 31.4% | $84.5M 31.5% | $64.8M 32.6% |
| Selling, General & Admin | $51.1M 6.8% | $57.6M 7.5% | $59.3M 6.9% | $59.3M 7.4% | $51.0M 8.7% | $43.6M 10.1% | $44.0M 11.4% | $35.9M 10.9% | $30.1M 11.2% | $21.5M 10.8% |
| Total Operating Expenses | $474.3M 63.0% | $473.2M 61.4% | $521.4M 60.8% | $512.0M 63.9% | $367.4M 62.7% | $285.1M 66.0% | $261.0M 67.3% | $229.2M 69.3% | $189.6M 70.7% | $141.4M 71.0% |
| Operating Income | — | — | — | — | — | — | — | $101.7M 30.7% | $78.5M 29.3% | $57.7M 29.0% |
| Interest Expense | $162.4M 21.6% | $154.3M 20.0% | $166.1M 19.4% | $110.6M 13.8% | $72.1M 12.3% | $62.6M 14.5% | $56.5M 14.6% | $42.7M 12.9% | $34.1M 12.7% | $24.1M 12.1% |
| Other Income (Expense), net | -$159.3M -21.2% | -$110.1M -14.3% | -$98.1M -11.4% | -$101.1M -12.6% | -$69.6M -11.9% | -$66.0M -15.3% | -$59.5M -15.3% | -$44.5M -13.5% | -$31.3M -11.7% | -$32.4M -16.3% |
| Pretax Income | $119.4M 15.9% | $187.0M 24.3% | $238.6M 27.8% | $188.5M 23.5% | $148.6M 25.4% | $81.1M 18.8% | $67.4M 17.4% | $57.1M 17.3% | $47.2M 17.6% | $25.2M 12.7% |
| Income Tax Expense | $3.1M 0.4% | $3.8M 0.5% | $1.6M 0.2% | $4.7M 0.6% | $1.7M 0.3% | $1.7M 0.4% | $1.4M 0.3% | $818K 0.2% | $1.2M 0.4% | $368K 0.2% |
| Net Income | $73.8M 9.8% | $111.5M 14.5% | $156.7M 18.3% | $103.7M 12.9% | $105.3M 18.0% | $48.6M 11.2% | $4.0M 1.0% | $14.1M 4.3% | $3.0M 1.1% | $18.0M 9.0% |
| Per Share | ||||||||||
| EPS (Basic) | $0.69 | $1.18 | $1.58 | $0.99 | $1.13 | $0.53 | $-0.15 | $0.07 | $0.01 | $0.60 |
| EPS (Diluted) | $0.69 | $1.18 | $1.48 | $0.99 | $0.98 | $0.53 | $-0.15 | $0.07 | $0.01 | $0.31 |
| Weighted Avg Shares (Basic) | 76.6M | 76.8M | 86.8M | 91.2M | 81.2M | 66.5M | 58.2M | 53.3M | 44.4M | 29.9M |
| Weighted Avg Shares (Diluted) | 76.6M | 76.8M | 146.0M | 91.2M | 134.5M | 66.6M | 58.2M | 53.3M | 44.4M | 78.7M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
No trend data available for this metric.
Ranked against 240 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELL | $163.3B | 168.7× | — | 15.1× | 35.6% | 40.1% | 8.9% | 2.3% | 1.6% | — | 1,425 |
| XHG | $130.7B | — | — | 2546.6× | 24.9% | 2.2% | -205% | 85.0% | 88.3% | — | 1 |
| PLD | $124.3B | 37.6× | — | 14.1× | 7.2% | — | 37.9% | 6.3% | 3.8% | — | 1,592 |
| EQIX | $99.8B | 73.8× | 25.5× | 10.8× | 5.4% | 51.1% | 14.6% | 9.5% | 8.7% | 0.3× | 1,229 |
| AMT | $82.3B | 32.7× | 14.2× | 7.7× | 5.1% | — | 24.7% | 72.0% | 37.3% | 0.6× | 1,662 |
| SPG | $66.2B | 14.3× | — | 10.4× | 6.7% | — | 84.3% | 103% | 15.9% | — | 1,242 |
| O | $53.4B | 48.9× | — | 9.3× | 9.1% | — | 18.4% | 2.7% | 2.7% | — | 1,389 |
| PSA | $51.7B | 32.7× | — | 10.7× | 2.7% | — | 37.0% | 19.3% | 9.1% | — | 1,045 |
| VTR | $41.9B | 163.3× | — | 7.2× | 18.5% | — | 4.5% | 2.1% | 1.0% | — | 891 |
| CBRE | $41.0B | 36.0× | — | 1.0× | 13.4% | 18.7% | 2.9% | 13.0% | 7.1% | — | 1,020 |
| IRM | $33.2B | 228.9× | 22.6× | 4.8× | 12.2% | — | 2.2% | -15.5% | 1.0% | 7.5× | 1,043 |
| EXR | $28.8B | 29.7× | 13.5× | 8.5× | 3.7% | 72.8% | 28.8% | 7.3% | 7.3% | — | 722 |
| AVB | $26.6B | 25.6× | 12.2× | 8.7× | 4.4% | — | 34.7% | 9.1% | 5.0% | 3.2× | 715 |
| VICI | $26.2B | 9.4× | — | 6.5× | 4.1% | 99.3% | 69.3% | 10.0% | 6.2% | — | 898 |
| EQR | $25.6B | 23.0× | — | — | — | — | — | 10.1% | 5.8% | — | 681 |
| SBAC | $19.0B | 18.4× | 21.5× | 6.8× | 5.1% | 75.5% | 37.4% | -21.7% | 13.1% | 8.7× | 636 |
| BEKE | $17.6B | 133.1× | 37.9× | 1.3× | 5.6% | 21.4% | 3.2% | 4.5% | 4.5% | — | 197 |
| ESS | $17.5B | 26.1× | 11.6× | 9.3× | 6.4% | 69.9% | 37.2% | 12.7% | 12.7% | — | 582 |
| INVH | $16.6B | 28.3× | — | 6.1× | 4.2% | — | 21.5% | 6.2% | 3.3% | — | 560 |
| JLL | $16.0B | 20.7× | 11.9× | 0.6× | 11.4% | — | 3.0% | 10.6% | 10.4% | 0.1× | 615 |
| WY | $15.7B | 48.5× | 16.8× | 2.3× | -3.1% | 14.8% | 4.7% | 3.4% | 2.2% | 4.5× | 868 |
| KIM | $15.2B | — | 16.3× | 7.1× | 5.1% | — | 27.3% | 5.6% | 3.2% | 5.5× | 633 |
| NLY | $15.0B | 7.3× | — | — | — | — | — | 12.6% | 12.6% | — | 743 |
| LAMR | $15.0B | 25.6× | — | 6.6× | 2.7% | 67.0% | 25.9% | 57.3% | 13.2% | — | 655 |
| HST | $15.0B | 19.8× | — | 2.5× | 7.6% | — | 12.5% | 11.7% | 9.8% | — | 656 |
| NSA | — | — | — | — | -2.3% | 71.1% | 9.8% | 7.8% | 1.7% | — | 314 |
Peers = companies sharing NSA's sector (Real Estate) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.