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Side-by-side financial comparison of National Storage Affiliates Trust (NSA) and Urban Edge Properties (UE). Click either name above to swap in a different company.
National Storage Affiliates Trust is the larger business by last-quarter revenue ($187.0M vs $132.6M, roughly 1.4× Urban Edge Properties). Urban Edge Properties runs the higher net margin — 17.1% vs 12.2%, a 4.8% gap on every dollar of revenue. On growth, Urban Edge Properties posted the faster year-over-year revenue change (12.2% vs -1.6%). Over the past eight quarters, Urban Edge Properties's revenue compounded faster (11.6% CAGR vs -2.4%).
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
Urban Edge Properties is a publicly traded real estate investment trust (REIT) that owns, operates, and develops high-quality retail and mixed-use properties, primarily located in densely populated urban and suburban markets across the United States. Its portfolio covers grocery-anchored shopping centers, lifestyle outlets, and community-focused commercial assets.
NSA vs UE — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $187.0M | $132.6M |
| Net Profit | $22.9M | $22.6M |
| Gross Margin | 72.5% | — |
| Operating Margin | 20.2% | — |
| Net Margin | 12.2% | 17.1% |
| Revenue YoY | -1.6% | 12.2% |
| Net Profit YoY | 36.8% | -6.7% |
| EPS (diluted) | $0.23 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $132.6M | ||
| Q4 25 | $187.0M | $119.6M | ||
| Q3 25 | $188.7M | $120.1M | ||
| Q2 25 | $188.8M | $114.1M | ||
| Q1 25 | $188.4M | $118.2M | ||
| Q4 24 | $190.1M | $116.4M | ||
| Q3 24 | $193.6M | $112.4M | ||
| Q2 24 | $190.4M | $106.5M |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $22.9M | $12.4M | ||
| Q3 25 | $18.4M | $14.9M | ||
| Q2 25 | $19.5M | $58.0M | ||
| Q1 25 | $13.0M | $8.2M | ||
| Q4 24 | $16.7M | $30.1M | ||
| Q3 24 | $18.7M | $9.1M | ||
| Q2 24 | $17.1M | $30.8M |
| Q1 26 | — | — | ||
| Q4 25 | 72.5% | — | ||
| Q3 25 | 70.7% | — | ||
| Q2 25 | 70.5% | — | ||
| Q1 25 | 70.7% | — | ||
| Q4 24 | 72.5% | — | ||
| Q3 24 | 72.8% | — | ||
| Q2 24 | 72.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 11.3% | ||
| Q3 25 | 15.8% | 13.4% | ||
| Q2 25 | 16.5% | 53.9% | ||
| Q1 25 | 11.0% | 7.6% | ||
| Q4 24 | 14.5% | 27.6% | ||
| Q3 24 | 15.8% | 8.9% | ||
| Q2 24 | 17.2% | 30.6% |
| Q1 26 | — | 17.1% | ||
| Q4 25 | 12.2% | 10.4% | ||
| Q3 25 | 9.8% | 12.4% | ||
| Q2 25 | 10.3% | 50.8% | ||
| Q1 25 | 6.9% | 6.9% | ||
| Q4 24 | 8.8% | 25.9% | ||
| Q3 24 | 9.7% | 8.1% | ||
| Q2 24 | 9.0% | 28.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $0.23 | $0.09 | ||
| Q3 25 | $0.17 | $0.12 | ||
| Q2 25 | $0.19 | $0.46 | ||
| Q1 25 | $0.10 | $0.07 | ||
| Q4 24 | $0.19 | $0.25 | ||
| Q3 24 | $0.18 | $0.07 | ||
| Q2 24 | $0.16 | $0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $23.3M | $50.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $946.0M | $1.4B |
| Total Assets | $5.1B | $3.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $50.0M | ||
| Q4 25 | $23.3M | $48.9M | ||
| Q3 25 | $26.3M | $77.8M | ||
| Q2 25 | $26.1M | $53.0M | ||
| Q1 25 | $19.3M | $48.0M | ||
| Q4 24 | $50.4M | $41.4M | ||
| Q3 24 | $69.9M | $67.9M | ||
| Q2 24 | $59.0M | $78.6M |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $946.0M | $1.4B | ||
| Q3 25 | $973.1M | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $986.9M | $1.3B | ||
| Q2 24 | $1.2B | $1.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $5.1B | $3.3B | ||
| Q3 25 | $5.1B | $3.3B | ||
| Q2 25 | $5.2B | $3.3B | ||
| Q1 25 | $5.3B | $3.3B | ||
| Q4 24 | $5.4B | $3.3B | ||
| Q3 24 | $5.4B | $3.2B | ||
| Q2 24 | $5.3B | $3.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $338.5M | $39.1M |
| Free Cash FlowOCF − Capex | $299.8M | — |
| FCF MarginFCF / Revenue | 160.3% | — |
| Capex IntensityCapex / Revenue | 20.7% | 1.5% |
| Cash ConversionOCF / Net Profit | 14.79× | 1.73× |
| TTM Free Cash FlowTrailing 4 quarters | $541.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $39.1M | ||
| Q4 25 | $338.5M | $182.7M | ||
| Q3 25 | $100.2M | $55.7M | ||
| Q2 25 | $79.9M | $43.5M | ||
| Q1 25 | $85.6M | $32.6M | ||
| Q4 24 | $363.1M | $153.2M | ||
| Q3 24 | $105.7M | $36.6M | ||
| Q2 24 | $83.2M | $41.2M |
| Q1 26 | — | — | ||
| Q4 25 | $299.8M | $81.8M | ||
| Q3 25 | $88.0M | $26.1M | ||
| Q2 25 | $73.8M | $19.6M | ||
| Q1 25 | $79.9M | $11.9M | ||
| Q4 24 | $344.4M | $42.5M | ||
| Q3 24 | $101.8M | $12.2M | ||
| Q2 24 | $79.5M | $19.9M |
| Q1 26 | — | — | ||
| Q4 25 | 160.3% | 68.4% | ||
| Q3 25 | 46.6% | 21.7% | ||
| Q2 25 | 39.1% | 17.2% | ||
| Q1 25 | 42.4% | 10.0% | ||
| Q4 24 | 181.2% | 36.6% | ||
| Q3 24 | 52.6% | 10.8% | ||
| Q2 24 | 41.7% | 18.6% |
| Q1 26 | — | 1.5% | ||
| Q4 25 | 20.7% | 84.4% | ||
| Q3 25 | 6.5% | 24.6% | ||
| Q2 25 | 3.2% | 20.9% | ||
| Q1 25 | 3.0% | 17.5% | ||
| Q4 24 | 9.8% | 95.1% | ||
| Q3 24 | 2.0% | 21.7% | ||
| Q2 24 | 1.9% | 20.1% |
| Q1 26 | — | 1.73× | ||
| Q4 25 | 14.79× | 14.71× | ||
| Q3 25 | 5.44× | 3.73× | ||
| Q2 25 | 4.10× | 0.75× | ||
| Q1 25 | 6.59× | 3.97× | ||
| Q4 24 | 21.70× | 5.09× | ||
| Q3 24 | 5.65× | 4.03× | ||
| Q2 24 | 4.88× | 1.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NSA
Segment breakdown not available.
UE
| Rental revenue | $124.2M | 94% |
| Other | $8.4M | 6% |
