National Storage Affiliates Trust (NYSE:NSA) Downgraded by Morgan Stanley to Underweight

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) was downgraded by investment analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They presently have a $30.00 target price on the real estate investment trust's stock. Morgan Stanley's price target suggests a potential downside of 12.84% from the stock's current price.

Several other research firms have also weighed in on NSA. Barclays dropped their price target on National Storage Affiliates Trust from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. 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. Robert W. Baird dropped their price target on 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. Wells Fargo & Company cut their price objective on National Storage Affiliates Trust from $40.00 to $38.00 and set an "underweight" rating for the company in a report on Friday, February 21st. Finally, Mizuho assumed coverage on shares of National Storage Affiliates Trust in a research report on Wednesday, April 9th. They set a "neutral" rating and a $35.00 target price for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, National Storage Affiliates Trust presently has a consensus rating of "Hold" and a consensus price target of $39.75.

National Storage Affiliates Trust Trading Up 0.6%

NYSE:NSA traded up $0.20 during mid-day trading on Tuesday, reaching $34.42. 1,743,326 shares of the company's stock traded hands, compared to its average volume of 692,907. The company has a 50 day moving average price of $35.88 and a 200-day moving average price of $38.03. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 20.13 and a beta of 1.20. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.72 and a quick ratio of 0.72. National Storage Affiliates Trust has a 12-month low of $30.88 and a 12-month high of $49.44.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The business had revenue of $188.35 million for the quarter, compared to analysts' expectations of $184.65 million. During the same period last year, the firm posted $0.60 earnings per share. National Storage Affiliates Trust's quarterly revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts predict that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

Insider Activity

In related news, Director Michael J. Schall purchased 4,000 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $38.54 per share, with a total value of $154,160.00. Following the completion of the acquisition, the director now owns 6,000 shares of the company's stock, valued at $231,240. The trade was a 200.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 13.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. purchased a new stake in shares of National Storage Affiliates Trust during the 4th quarter worth about $51,081,000. Norges Bank acquired a new position in National Storage Affiliates Trust in the 4th quarter worth about $26,737,000. Nuveen LLC purchased a new position in National Storage Affiliates Trust during the first quarter worth approximately $23,134,000. Wasatch Advisors LP grew its holdings in National Storage Affiliates Trust by 8.2% in the fourth quarter. Wasatch Advisors LP now owns 6,679,180 shares of the real estate investment trust's stock valued at $253,208,000 after purchasing an additional 506,398 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of National Storage Affiliates Trust in the fourth quarter valued at approximately $13,354,000. Hedge funds and other 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.