Why One Fund's $10 Million National Storage Exit May Be More About the Public Storage Deal Than Storage Demand
2026-05-10 13:12:01 ET
On May 8, 2026, Waterfall Asset Management sold out its entire stake in National Storage Affiliates Trust (NYSE:NSA) , unloading 297,700 shares in a transaction estimated at $10.06 million based on quarterly average pricing.
According to a filing with the Securities and Exchange Commission dated May 8, 2026, Waterfall Asset Management reported a complete sale of its 297,700-share stake in National Storage Affiliates Trust. The estimated transaction value was $10.06 million, calculated using the average closing price for the quarter ended March 31, 2026. The quarter-end valuation of the position declined by $8.42 million, a figure that incorporates both the share sale and price changes over the period.
National Storage Affiliates Trust is one of the largest publicly traded owners and operators of self-storage properties in the United States, with a diversified portfolio spanning major metropolitan regions. The company leverages its REIT structure to drive growth through property acquisitions.
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