Here’s Why Wasatch Global Investors Remains Optimistic in National Storage Affiliates Trust (NSA)

Wasatch Global Investors, an investment management firm, published its “Wasatch Small Cap Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The Wasatch Small Cap Value Fund—Investor Class gained 6.60% in the fourth quarter of 2021 and outperformed its benchmark. For the one-year period ended December 31, 2021, the Fund gained 25.38%. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Wasatch Small Cap Value Fund, in its Q4 2021 investor letter, mentioned National Storage Affiliates Trust (NYSE: NSA) and discussed its stance on the firm. National Storage Affiliates Trust is a Colorado-based real estate investment trust company with a $7.9 billion market capitalization. NSA delivered a -11.72% return since the beginning of the year, while its 12-month returns are up by 57.37%. The stock closed at $61.09 per share on March 07, 2022.

Here is what Wasatch Small Cap Value Fund has to say about National Storage Affiliates Trust in its Q4 2021 investor letter:

“Our position in National Storage Affiliates Trust (NSA) also made a sizable contribution to performance. We initially purchased the stock several years ago on the view that it was an up-and-coming competitor in the self-storage industry. NSA has indeed demonstrated impressive growth, and the company is now one of the largest players in the business. More recently, disruptions caused by Covid-19—including people both moving and rearranging their living spaces to accommodate home offices—have led to a further uptick in demand. While we trimmed the position to manage its size, we believe NSA’s fundamentals are as strong as they have ever been and the Fund still holds a healthy weight in the stock.”

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Our calculations show that National Storage Affiliates Trust (NYSE: NSA) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. NSA was in 23 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 21 funds in the previous quarter. National Storage Affiliates Trust (NYSE: NSA) delivered a -3.55% return in the past 3 months.

In November 2021, we published an article that includes NSA in the 12 Best Warehouse and Self Storage Stocks to Buy. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.