Is NLY or NSA more undervalued in 2026?

CirclFi compares Annaly Capital Management Inc. (NLY) and National Storage Affiliates Tru (NSA) using 13 institutional-grade valuation models. NLY has a Quality of Company score of 7.4/10 while NSA scores 9.4/10.

Which is a better buy — NLY or NSA?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NLY and NSA valuations compare?

NLY at $21.85 and NSA at $42.65 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NLY vs NSA Valuation Comparison 2026 — Intrinsic Value Analysis

NLY

Real Estate Investment Trusts

Annaly Capital Management Inc.

Quality

7.4

out of 10

Value Trap

SAFE

Price

$21.85

Last close

Models

11/13

Active

NSA

Real Estate Investment Trusts

National Storage Affiliates Tru

Quality

9.4

out of 10

Value Trap

LOW

Price

$42.65

Last close

Models

11/13

Active

Model-by-Model Comparison

Model	Type	NLY Fair Value	NLY Upside	NSA Fair Value	NSA Upside
Bayesian DCF	Intrinsic	$14.24	-34.8%	$40.09	-6.0%
Earnings Power Value	Intrinsic	$9.53	-58.2%	$14.63	-65.7%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NLY vs NSA — Which Stock Is More Undervalued?

NSA scores higher with a 9.4/10 quality rating vs NLY's 7.4/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Annaly Capital Management Inc. (NLY) and National Storage Affiliates Tru (NSA) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NLY currently trades at $21.85 with a QOC of 7.4/10, while NSA trades at $42.65 with a QOC of 9.4/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).