National Storage Affiliates Trust (NYSE:NSA) Lowered to "Underweight" Rating by Morgan Stanley

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) was downgraded by equities research 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.com reports. They presently have a $30.00 price objective on the real estate investment trust's stock. Morgan Stanley's target price suggests a potential downside of 12.26% from the stock's previous close.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird reduced their price target on shares of National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Truist Financial set a $37.00 target price on shares of National Storage Affiliates Trust and gave the stock a "hold" rating in a research note on Monday, May 19th. Wells Fargo & Company lowered their target price 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. Mizuho began coverage on National Storage Affiliates Trust in a report on Wednesday, April 9th. They issued a "neutral" rating and a $35.00 price target on the stock. Finally, Barclays reduced their price objective on 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $39.75.

National Storage Affiliates Trust Trading Up 1.3%

NYSE NSA traded up $0.45 during trading on Tuesday, reaching $34.19. 1,138,391 shares of the stock traded hands, compared to its average volume of 688,382. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 19.99 and a beta of 1.20. The stock's 50-day moving average price is $35.95 and its 200 day moving average price is $38.09. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35. National Storage Affiliates Trust has a fifty-two week low of $30.88 and a fifty-two week high of $49.44.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.02). The firm had revenue of $188.35 million for the quarter, compared to analyst estimates of $184.65 million. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The firm's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Analysts predict that National Storage Affiliates Trust will post 2.4 EPS for the current year.

Insider Buying and Selling

In other National Storage Affiliates Trust news, Director Michael J. Schall bought 4,000 shares of National Storage Affiliates Trust stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $38.54 per share, for a total transaction 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. This trade represents a 200.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.70% of the stock is currently owned by corporate insiders.

Institutional Trading of National Storage Affiliates Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV lifted its stake in National Storage Affiliates Trust by 94.3% in the fourth quarter. KBC Group NV now owns 3,851 shares of the real estate investment trust's stock valued at $146,000 after acquiring an additional 1,869 shares during the last quarter. abrdn plc lifted its stake in National Storage Affiliates Trust by 30.6% in the fourth quarter. abrdn plc now owns 17,831 shares of the real estate investment trust's stock valued at $666,000 after acquiring an additional 4,180 shares during the last quarter. Retirement Systems of Alabama lifted its stake in National Storage Affiliates Trust by 0.5% in the fourth quarter. Retirement Systems of Alabama now owns 85,289 shares of the real estate investment trust's stock valued at $3,233,000 after acquiring an additional 412 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in National Storage Affiliates Trust by 1.8% in the fourth quarter. State of Alaska Department of Revenue now owns 41,714 shares of the real estate investment trust's stock valued at $1,580,000 after acquiring an additional 752 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in National Storage Affiliates Trust by 9.4% in the fourth quarter. Empowered Funds LLC now owns 60,200 shares of the real estate investment trust's stock valued at $2,282,000 after acquiring an additional 5,184 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

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.