National Storage Affiliates Trust (NYSE:NSA) Reaches New 1-Year Low - Time to Sell?

Key Points

• National Storage Affiliates Trust (NYSE:NSA) reached a new 52-week low at $30.88, following a drop from its previous closing price of $31.40.
• The company reported quarterly earnings of $0.54 per share, falling short of the consensus estimate of $0.56, with a revenue decline of 4% year-over-year.
• Brokerage analysts have mixed ratings, with six giving a sell rating and a consensus price target of $38.38 for the stock, while the company declared a quarterly dividend yielding 7.37%.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as $30.88 and last traded at $30.83, with a volume of 252576 shares trading hands. The stock had previously closed at $31.40.

Analyst Ratings Changes

Several brokerages have recently commented on NSA. Wall Street Zen downgraded National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Morgan Stanley downgraded National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 target price for the company. in a research note on Tuesday, May 27th. Truist Financial set a $37.00 target price on National Storage Affiliates Trust and gave the company a "hold" rating in a research note on Monday, May 19th. BNP Paribas upgraded National Storage Affiliates Trust to a "strong sell" rating in a research note on Tuesday, June 24th. Finally, Mizuho started coverage on National Storage Affiliates Trust in a research note on Wednesday, April 9th. They set a "neutral" rating and a $35.00 price target for the company. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $38.38.

National Storage Affiliates Trust Stock Performance

The company's 50-day simple moving average is $32.63 and its 200 day simple moving average is $35.45. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 2.54. The stock has a market cap of $2.22 billion, a P/E ratio of 49.32 and a beta of 1.12.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.54 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.02). National Storage Affiliates Trust had a return on equity of 4.59% and a net margin of 8.59%. The firm had revenue of $188.35 million for the quarter, compared to the consensus estimate of $184.65 million. During the same period in the prior year, the business earned $0.60 EPS. National Storage Affiliates Trust's quarterly revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend was Friday, June 13th. National Storage Affiliates Trust's payout ratio is 386.44%.

Institutional Investors Weigh In On National Storage Affiliates Trust

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of National Storage Affiliates Trust by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 9,759,416 shares of the real estate investment trust's stock worth $369,979,000 after purchasing an additional 80,923 shares during the period. Wasatch Advisors LP raised its holdings in shares of National Storage Affiliates Trust by 8.2% in the 4th quarter. Wasatch Advisors LP now owns 6,679,180 shares of the real estate investment trust's stock worth $253,208,000 after purchasing an additional 506,398 shares during the period. Capital World Investors raised its holdings in shares of National Storage Affiliates Trust by 6.2% in the 4th quarter. Capital World Investors now owns 1,941,558 shares of the real estate investment trust's stock worth $73,604,000 after purchasing an additional 113,973 shares during the period. Geode Capital Management LLC raised its holdings in shares of National Storage Affiliates Trust by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,348,728 shares of the real estate investment trust's stock worth $51,144,000 after purchasing an additional 15,468 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of National Storage Affiliates Trust in the 4th quarter worth approximately $51,081,000. Institutional investors 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.