Why One Fund’s $10 Million National Storage Exit May Be More About the Public Storage Deal Than Storage Demand
On May 8, 2026, Waterfall Asset Management sold its entire stake of 297,700 shares in National Storage Affiliates Trust for approximately $10.06 million, reflecting a decline in value of $8.42 million due to price changes over the quarter. National Storage Affiliates Trust is a leading publicly traded self-storage REIT in the U.S.
Waterfall Asset Management's complete divestment from National Storage Affiliates Trust, totaling approximately $10.06 million, may signal concerns about the company's future performance or strategy, despite its large and diversified self-storage property portfolio. As an investor, this could be a point of analysis regarding the potential impact on NSA's market valuation and whether similar funds might follow suit, potentially affecting stock price and investment decisions in the REIT sector.