National Storage Affiliates Trust (NYSE:NSA) Cut to Strong Sell at Zacks Research

Key Points

• National Storage Affiliates Trust has been downgraded by Zacks Research from a "hold" to a "strong sell" rating, indicating a bearish outlook on the stock.
• Several analysts have revised their price targets downward, with Barclays setting a new target of $36.00, while UBS cut theirs to $32.00.
• The real estate investment trust reported $0.55 earnings per share for the last quarter, missing estimates and showing a 0.8% decline in revenue compared to the same period last year.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the company. Barclays cut their price target on National Storage Affiliates Trust from $41.00 to $36.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Weiss Ratings reissued a "hold (c-)" rating on shares of National Storage Affiliates Trust in a report on Wednesday, October 8th. Robert W. Baird cut their price target on National Storage Affiliates Trust from $39.00 to $34.00 and set a "neutral" rating for the company in a report on Tuesday, August 12th. Wall Street Zen raised National Storage Affiliates Trust from a "sell" rating to a "hold" rating in a report on Saturday, October 11th. Finally, UBS Group cut their price target on National Storage Affiliates Trust from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Tuesday, September 16th. Seven analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $33.64.

National Storage Affiliates Trust Stock Performance

Shares of NSA stock opened at $32.36 on Wednesday. The stock has a fifty day moving average price of $31.01 and a 200 day moving average price of $32.87. The stock has a market cap of $2.48 billion, a PE ratio of 52.19 and a beta of 1.08. National Storage Affiliates Trust has a 1 year low of $28.02 and a 1 year high of $46.07. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.30 and a current ratio of 0.30.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). The firm had revenue of $188.84 million for the quarter, compared to analyst estimates of $185.91 million. National Storage Affiliates Trust had a return on equity of 4.91% and a net margin of 8.92%.The business's revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. Sell-side analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Storage Affiliates Trust

Several institutional investors have recently added to or reduced their stakes in NSA. UniSuper Management Pty Ltd lifted its holdings in shares of 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 worth $776,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of National Storage Affiliates Trust by 21.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,748 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 308 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of National Storage Affiliates Trust by 71.9% in the 2nd quarter. UMB Bank n.a. now owns 906 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 379 shares during the last quarter. Peak Financial Advisors LLC lifted its holdings in shares of National Storage Affiliates Trust by 3.0% in the 3rd quarter. Peak Financial Advisors LLC now owns 13,272 shares of the real estate investment trust's stock worth $401,000 after purchasing an additional 382 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of National Storage Affiliates Trust by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 66,648 shares of the real estate investment trust's stock worth $2,132,000 after purchasing an additional 392 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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.

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