Barclays Cuts National Storage Affiliates Trust (NYSE:NSA) Price Target to $36.00

Key Points

• Barclays has lowered its price target for National Storage Affiliates Trust (NSA) from $41.00 to $36.00, indicating a potential upside of 18.73% from the stock's closing price.
• Analyst ratings are mixed, with six recommending a sell, seven a hold, and one a buy for NSA, with a current consensus rating of "Hold."
• The real estate investment trust reported earnings of $0.55 per share, missing estimates by $0.03, while revenue decreased by 0.8% year-over-year.

National Storage Affiliates Trust (NYSE:NSA - Free Report) had its target price trimmed by Barclays from $41.00 to $36.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust's stock.

Several other research analysts have also weighed in on the stock. Morgan Stanley lowered shares of National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 price objective on the stock. in a research note on Tuesday, May 27th. Wall Street Zen lowered shares of National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. National Bankshares set a $33.00 price target on shares of National Storage Affiliates Trust in a research note on Tuesday, June 24th. Truist Financial set a $37.00 price target on shares of National Storage Affiliates Trust and gave the stock a "hold" rating in a research note on Monday, May 19th. Finally, BNP Paribas Exane started coverage on shares of National Storage Affiliates Trust in a research note on Tuesday, June 24th. They set an "underperform" rating and a $33.00 price target on the stock. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.96.

National Storage Affiliates Trust Stock Down 1.6%

National Storage Affiliates Trust stock traded down $0.48 during trading hours on Friday, hitting $29.76. The company had a trading volume of 909,605 shares, compared to its average volume of 1,119,927. The firm has a market capitalization of $2.28 billion, a P/E ratio of 48.00 and a beta of 1.10. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.30 and a quick ratio of 0.22. The firm's fifty day moving average is $32.12 and its 200-day moving average is $35.17. National Storage Affiliates Trust has a fifty-two week low of $28.02 and a fifty-two week high of $49.44.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). The company had revenue of $188.84 million during the quarter, compared to analyst estimates of $185.91 million. National Storage Affiliates Trust had a net margin of 8.92% and a return on equity of 4.91%. The firm's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 EPS. On average, research analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.57 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.28 dividend on an annualized basis and a yield of 7.7%. National Storage Affiliates Trust's dividend payout ratio is 367.74%.

Institutional Trading of National Storage Affiliates Trust

A number of hedge funds have recently bought and sold shares of the stock. UniSuper Management Pty Ltd boosted its holdings in National Storage Affiliates Trust by 1.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 19,700 shares of the real estate investment trust's stock valued at $776,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC lifted its holdings in shares of National Storage Affiliates Trust by 21.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,748 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 308 shares during the period. UMB Bank n.a. lifted its holdings in shares of National Storage Affiliates Trust by 71.9% during the 2nd quarter. UMB Bank n.a. now owns 906 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 379 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of National Storage Affiliates Trust by 4.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 10,211 shares of the real estate investment trust's stock worth $385,000 after acquiring an additional 398 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of National Storage Affiliates Trust by 7.5% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,932 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 413 shares during the period. 99.97% of the stock is owned by institutional investors.

National Storage Affiliates Trust Company Profile

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of December 31, 2023, the Company held ownership interests in and operated 1,050 self storage properties, located in 42 states and Puerto Rico with approximately 68.6 million rentable square feet, which excludes 39 self storage properties classified as held for sale to be sold to a third party.