National Storage Affiliates Trust (NYSE:NSA) Sets New 52-Week Low - What's Next?

Key Points

• National Storage Affiliates Trust's stock has reached a new 52-week low of $29.02, closing at $29.57, amidst significant trading volume.
• The company has received various analyst ratings, including a recent downgrade from Morgan Stanley to "underweight" and a target price of $30.00.
• National Storage Affiliates Trust reported EPS of $0.54 for the last quarter, missing estimates, with a quarterly revenue decline of 4% year-over-year.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $29.02 and last traded at $29.57, with a volume of 1041058 shares traded. The stock had previously closed at $29.46.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. 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 for the company. in a research report on Tuesday, May 27th. BNP Paribas raised shares of National Storage Affiliates Trust to a "strong sell" rating in a research note on Tuesday, June 24th. National Bankshares set a $33.00 target price on shares of National Storage Affiliates Trust in a research note on Tuesday, June 24th. Truist Financial set a $37.00 target price on shares of National Storage Affiliates Trust and gave the company a "hold" rating in a research note on Monday, May 19th. Finally, Mizuho began coverage on shares of National Storage Affiliates Trust in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $35.00 target price on the stock. Six 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $38.38.

National Storage Affiliates Trust Stock Up 0.4%

The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 50.23 and a beta of 1.10. The business's 50-day moving average is $32.54 and its two-hundred day moving average is $35.39. 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 announced 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). The company had revenue of $188.35 million for the quarter, compared to analyst estimates of $184.65 million. National Storage Affiliates Trust had a return on equity of 4.59% and a net margin of 8.59%. The business's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. On average, equities analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.57 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.7%. National Storage Affiliates Trust's dividend payout ratio (DPR) is 386.44%.

Institutional Trading of National Storage Affiliates Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in NSA. Fourth Dimension Wealth LLC bought a new position in National Storage Affiliates Trust during the fourth quarter worth $28,000. Advisors Asset Management Inc. bought a new position in National Storage Affiliates Trust during the first quarter worth $32,000. UMB Bank n.a. boosted its position in National Storage Affiliates Trust by 71.9% during the second 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 period. Quarry LP boosted its position in shares of National Storage Affiliates Trust by 444.7% in the fourth quarter. Quarry LP now owns 926 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 756 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of National Storage Affiliates Trust by 207.3% in the first quarter. Jones Financial Companies Lllp now owns 1,217 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 821 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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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