National Storage REITNTSGF 78 PB Ratio is 10.84 as of Jun. 29, 2026, which is 13% below its 10-year median of 12.47. GuruFocus rates NTSGF with a GF Score™ of 78/100 and a GF Value™ of $1.72. The stock has 11 warning signs investors should review. Among 933 REITs companies, National Storage REIT ranks worse than 98.5% on this metric.
The historical rank and industry rank for National Storage REIT's PB Ratio or its related term are showing as below:
NTSGF'
s PB Ratio Range Over the Past 10 Years
Min: 8.38 Med: 12.47 Max: 18.31
Current: 10.98
During the past 12 years, National Storage REIT's highest PB Ratio was 18.31. The lowest was 8.38. And the median was 12.47.
NTSGF's PB Ratio is ranked worse than 98.5% of 933
companies
in the REITs industry
Industry Median: 0.87
vs NTSGF: 10.98
During the past 12 months, National Storage REIT's average Book Value Per Share Growth Rate was 10.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 11.80% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 12.40% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 9.10% per year.
During the past 12 years, the highest 3-Year average Book Value Per Share Growth Rate of National Storage REIT was 20.40% per year. The lowest was 0.40% per year. And the median was 12.00% per year.
Back to Basics: PB Ratio
National Storage REIT (OTCPK:NTSGF) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the REIT - Industrial subindustry, National Storage REIT's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National Storage REIT PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, National Storage REIT's PB Ratio distribution charts can be found below:
* The bar in red indicates where National Storage REIT's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
National Storage REIT (NTSGF) has a PB Ratio of 10.84 as of Jun. 29, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on National Storage REIT and its competitors. This is 13% below median its historical median of 12.47. Over the past decade, National Storage REIT's PB Ratio has ranged from 8.38 to 18.31. According to the industry distribution chart, National Storage REIT ranks #919 out of 933 companies in the REITs industry, placing it in the top 98.5%.
Is National Storage REIT's PB Ratio too high?
National Storage REIT's current PB Ratio of 10.84 is 13% below median its 10-year median of 12.47. Over the past 10 years, this metric has ranged from a low of 8.38 to a high of 18.31. The REITs industry median PB Ratio is 0.87. National Storage REIT's value of 10.84 is 1146% above this industry median. Based on the distribution chart, National Storage REIT ranks #919 out of 933 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, National Storage REIT has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does National Storage REIT's PB Ratio compare to PLD and PSA?
According to the REITs industry distribution chart, National Storage REIT ranks #919 out of 933 companies for PB Ratio. This places National Storage REIT in the lower half of its industry. The industry median PB Ratio is 0.87. National Storage REIT's value of 10.84 is 1146% above this benchmark. Historically, National Storage REIT's own PB Ratio has ranged from 8.38 to 18.31 over the past decade. While the company's 10-year median is 12.47 vs. the industry median of 0.87, National Storage REIT has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a REITs company?
The median PB Ratio among REITs companies is 0.87, based on 933 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Storage REIT's current PB Ratio of 10.84 is 1146% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on National Storage REIT and its competitors. For the REITs industry, the median PB Ratio is 0.87 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Storage REIT's current PB Ratio is 10.84, which is 13% below median its own 10-year median of 12.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Storage REIT stock overvalued right now?
National Storage REIT (NTSGF) has a current PB Ratio of 10.84. The stock's GF Value™ is $1.72, compared to a current price of $1.83 — trading 6.5% above its estimated fair value. The current PB Ratio is 10.84, which is 13% below median its 10-year median of 12.47 and 1146% above the REITs industry median of 0.87. National Storage REIT's overall GF Score™ is 78/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For National Storage REIT (NTSGF), the current PB Ratio is 10.84 as of Jun. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National Storage REIT (NTSGF) Overvalued in 2026?
Based on GuruFocus' analysis, National Storage REIT stock appears to be overvalued.
The current stock price of $1.83 is trading 6.5% above its estimated GF Value™ of $1.72.
Key valuation signals for NTSGF:
PB Ratio: 10.84 (13% below median its 10-year median of 12.47)
GF Value™: $1.72 vs. price of $1.83 (6.5% above fair value)
Industry Position: 1146% above the REITs median (#919 of 933)
No single metric tells the full story. See the NTSGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Storage REIT is the largest self-storage operator in Australia and New Zealand. Majority of its income is derived from rents. Additional revenue streams come from ancillary products and services such as packaging materials, locks, and insurance. The REIT owns most of the centers it operates, and leases roughly a dozen of the sites secured under long-term agreements. The self-storage industry is fragmented, with three large players in National Storage, the listed Abacus Storage King, and privately owned Kennards, accounting for about one-third of the market. The rest are independent operators, with a single center or a small state-based portfolio of assets. Besides organic rent increases, the company's key growth drivers are acquisitions and developments.
78GF Score
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