National Storage Affiliates Trust (NYSE:NSA) Downgraded by Wall Street Zen to Sell

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

Other analysts have also recently issued reports about the company. Mizuho assumed coverage on National Storage Affiliates Trust in a report on Wednesday, April 9th. They set a "neutral" rating and a $35.00 price target on the stock. National Bankshares set a $33.00 target price on shares of National Storage Affiliates Trust in a research report on Tuesday. Barclays decreased their price target on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Morgan Stanley lowered shares of National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 price target on the stock. in a report on Tuesday, May 27th. Finally, Robert W. Baird reduced their price objective on shares of National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $38.63.

National Storage Affiliates Trust Price Performance

National Storage Affiliates Trust stock traded down $0.31 during mid-day trading on Friday, reaching $31.80. The company had a trading volume of 2,451,738 shares, compared to its average volume of 711,149. The business has a fifty day simple moving average of $34.73 and a 200 day simple moving average of $36.54. The company has a market cap of $2.43 billion, a P/E ratio of 53.89 and a beta of 1.14. National Storage Affiliates Trust has a fifty-two week low of $30.88 and a fifty-two week high of $49.44. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 2.54.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.02). The firm had revenue of $188.35 million during the quarter, compared to the consensus estimate of $184.65 million. National Storage Affiliates Trust had a net margin of 8.59% and a return on equity of 4.59%. The firm's revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, equities research analysts predict that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

Hedge Funds Weigh In On National Storage Affiliates Trust

Several hedge funds and other institutional investors have recently bought and sold shares of NSA. Handelsbanken Fonder AB raised its position in shares of National Storage Affiliates Trust by 9.2% in the 4th quarter. Handelsbanken Fonder AB now owns 25,016 shares of the real estate investment trust's stock worth $948,000 after acquiring an additional 2,100 shares in the last quarter. Amalgamated Bank grew its stake in National Storage Affiliates Trust by 2.5% during the fourth quarter. Amalgamated Bank now owns 33,356 shares of the real estate investment trust's stock worth $1,265,000 after purchasing an additional 822 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in National Storage Affiliates Trust by 9.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 89,852 shares of the real estate investment trust's stock worth $3,406,000 after purchasing an additional 7,655 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in National Storage Affiliates Trust by 54.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 11,128 shares of the real estate investment trust's stock valued at $422,000 after buying an additional 3,935 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of National Storage Affiliates Trust during the 4th quarter worth approximately $795,000. Institutional investors and hedge funds own 99.97% of the company's stock.

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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