National Storage Affiliates Trust (NYSE:NSA) Sets New 52-Week Low - Should You 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) reached a new 52-week low during trading on Monday . The company 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 Upgrades and Downgrades

A number of brokerages have weighed in on NSA. Morgan Stanley cut shares of National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 target price on the stock. in a report on Tuesday, May 27th. National Bankshares set a $33.00 price objective on shares of National Storage Affiliates Trust in a report on Tuesday, June 24th. Mizuho began coverage on shares of National Storage Affiliates Trust in a report on Wednesday, April 9th. They issued a "neutral" rating and a $35.00 price objective on the stock. BNP Paribas raised shares of National Storage Affiliates Trust to a "strong sell" rating in a report on Tuesday, June 24th. Finally, Wells Fargo & Company dropped their price objective on shares of National Storage Affiliates Trust from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, July 23rd. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, National Storage Affiliates Trust presently has an average rating of "Hold" and a consensus price target of $38.38.

National Storage Affiliates Trust Stock Down 1.5%

The firm has a market cap of $2.37 billion, a P/E ratio of 52.44 and a beta of 1.12. The stock's 50 day simple moving average is $33.01 and its 200 day simple moving average is $35.59. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.22 and a current ratio of 0.22.

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

National Storage Affiliates Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 7.37%. The ex-dividend date of this dividend was Friday, June 13th. National Storage Affiliates Trust's payout ratio is 386.44%.

Institutional Trading of National Storage Affiliates Trust

Institutional investors have recently made changes to their positions in the stock. UniSuper Management Pty Ltd raised its holdings in National Storage Affiliates Trust by 1.5% in the first 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 in the last quarter. GAMMA Investing LLC raised its position 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. increased its holdings in 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 buying an additional 379 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in National Storage Affiliates Trust by 4.1% in 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 buying an additional 398 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake 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 valued at $234,000 after purchasing an additional 413 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

About National Storage Affiliates Trust

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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