National Storage Affiliates Trust (NSA) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Low Risk
Limited dilution potential
Last updated: May 05, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 3.17% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
77M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

NSA currently has 77.1M outstanding shares. with minimal authorized share overhang for future dilution. The company has minimally diluted shareholders by 3.17% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 05, 2026

10-Q filing | 77.1M shares outstanding

77M 0
Nov 04, 2025

10-Q filing | 76.7M shares outstanding

77M 0
Aug 05, 2025

10-Q filing | 76.5M shares outstanding

76M 0
May 06, 2025

10-Q filing | 76.4M shares outstanding

76M 0
Feb 27, 2025

10-K filing | 76.8M shares outstanding

77M 0
Oct 31, 2024

10-Q filing | 75.8M shares outstanding

76M 0
Aug 05, 2024

10-Q filing | 75.2M shares outstanding

75M 0
Jun 03, 2024

8-K filing: National Storage Affiliates Trust's Operating Partnership entered into a Fourth Amended and Restated Limited Partnership Agreement, effective July 1, 2024, to internalize its participating regional operator structure, which includes converting outstanding subordinated performance units into Class A OP Units.

80M 0
May 02, 2024

10-Q filing | 80.2M shares outstanding

80M 0
Feb 28, 2024

10-K filing | 86.8M shares outstanding

87M 0
Nov 02, 2023

10-Q filing | 87.0M shares outstanding

87M 0
Oct 10, 2023

8-K filing: On October 6, 2023, National Storage Affiliates Trust's Operating Partnership issued 179,354 Series A-1 Preferred Units as partial consideration for the acquisition of one self storage property.

88M 0
Sep 28, 2023

8-K filing: On September 26, 2023, NSA OP, LP issued 287,337 6.000% Series A-1 cumulative redeemable preferred units as partial consideration for the acquisition of one self storage property. As of September 28, 2023, 1,032,986 Series A-1 Preferred Units were issued and outstanding.

88M 0
Aug 08, 2023

10-Q filing | 88.3M shares outstanding

88M 0
May 02, 2023

10-Q filing | 89.5M shares outstanding

89M 0
Mar 21, 2023

8-K filing: National Storage Affiliates Trust issued 5,668,128 shares of 6.000% Series B Cumulative Redeemable Preferred Shares to the former shareholders of Personal Mini in connection with the closing of the Personal Mini Acquisition.

91M 0
Feb 27, 2023

10-K filing | 91.2M shares outstanding

91M 0
Nov 03, 2022

10-Q filing | 91.5M shares outstanding

91M 0
Aug 04, 2022

10-Q filing | 91.5M shares outstanding

92M 0
May 05, 2022

10-Q filing | 91.3M shares outstanding

91M 0
Mar 16, 2022

8-K filing: On March 10, 2022, NSA OP, LP issued 64,064 Class A common units and 353,030 6.000% Series A-1 preferred units as partial consideration for acquisitions.

91M 0
Feb 25, 2022

10-K filing | 91.4M shares outstanding

91M 0
Dec 21, 2021

8-K filing: The Operating Partnership issued a series of Class A common units of limited partner interest, Series MO and BL subordinated performance units, and 6.000% Series A-1 Cumulative Redeemable Preferred Units to unrelated third parties and affiliates as consideration for the acquisition of self storage properties.

34M 0
Nov 04, 2021

10-Q filing | 86.3M shares outstanding

86M 0
Aug 04, 2021

10-Q filing | 88.7M shares outstanding

89M 0
Jul 26, 2021

8-K filing: National Storage Affiliates Trust completed a public offering of 10,120,000 common shares at $51.25 per share, receiving net proceeds of approximately $497.4 million. ($497.4M proceeds)

72M 0
Jul 20, 2021

8-K filing: National Storage Affiliates Trust reported on July 20, 2021 the sales of common shares through an at-the-market offering program, acquisitions of self-storage properties, a secured debt financing agreement, and a senior unsecured notes financing agreement. ($0.0M proceeds)

72M 0
May 05, 2021

10-Q filing | 71.8M shares outstanding

72M 0
Feb 26, 2021

10-K filing | 66.6M shares outstanding

67M 0
Feb 04, 2021

8-K filing: National Storage Affiliates Trust's Operating Partnership issued multiple tranches of OP units and Series BL/PM subordinated performance units in exchange for cash, property acquisitions, and principal payment reimbursements between October 2020 and February 2021, with 28,467 common shares issued on December 31, 2020, and 32,396,012 OP units outstanding as of February 4, 2021.

69M 0
Nov 06, 2020

10-Q filing | 69.2M shares outstanding

69M 0
Sep 25, 2020

8-K filing: National Storage Affiliates Trust completed an offering of 4,500,000 common shares at a public offering price of $33.15 per share on September 25, 2020.

69M 0
Sep 22, 2020

8-K filing: National Storage Affiliates Trust filed a preliminary prospectus supplement for a proposed public offering of 4,500,000 common shares but there is no assurance the offering will be completed.

69M 0
Aug 07, 2020

10-Q filing | 68.8M shares outstanding

69M 0
May 11, 2020

10-Q filing | 68.1M shares outstanding

68M 0
Apr 06, 2020

8-K filing: National Storage Affiliates Trust issued 7,658,495 common shares to former SecurCare shareholders and 446,697 common shares to former DLAN shareholders in connection with completed mergers.

60M 0
Feb 26, 2020

10-K filing | 59.7M shares outstanding

60M 0
Feb 24, 2020

8-K filing: National Storage Affiliates Trust entered into a merger agreement with SecurCare Self Storage, Inc., resulting in the issuance of 7,658,495 common shares to SecurCare owners, including approximately 4.1 million shares to Arlen Nordhagen.

N/A 0
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