National Storage Affiliates Trust (NYSE:NSA) Stock Rating Upgraded by Wall Street Zen

Key Points

• National Storage Affiliates Trust has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, marking a notable shift in analyst sentiment toward the stock.
• The stock currently has a consensus price target of $37.96, with mixed ratings from analysts, including five sell ratings and one buy rating.
• Recently, the company's quarterly earnings missed expectations, reporting $0.55 earnings per share, down from $0.21 per share compared to the same period last year.

Wall Street Zen upgraded shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) from a sell rating to a hold rating in a report released on Saturday.

Several other equities research analysts have also commented on the company. Morgan Stanley lowered National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 price target on the stock. in a research note on Tuesday, May 27th. BNP Paribas Exane started coverage on National Storage Affiliates Trust in a research report on Tuesday, June 24th. They set an "underperform" rating and a $33.00 price objective for the company. Truist Financial set a $37.00 price target on National Storage Affiliates Trust and gave the company a "hold" rating in a report on Monday, May 19th. Barclays cut their price target on National Storage Affiliates Trust from $41.00 to $36.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Wells Fargo & Company cut their price target on National Storage Affiliates Trust from $38.00 to $35.00 and set an "underweight" rating for the company in a report on Wednesday, July 23rd. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $37.96.

National Storage Affiliates Trust Stock Performance

NYSE NSA traded down $0.03 during trading hours on Friday, hitting $29.73. 1,262,657 shares of the stock were exchanged, compared to its average volume of 877,702. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.62. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 47.96 and a beta of 1.10. National Storage Affiliates Trust has a 12-month low of $28.02 and a 12-month high of $49.44. The stock has a 50-day moving average of $32.12 and a 200 day moving average of $35.16.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). National Storage Affiliates Trust had a return on equity of 4.91% and a net margin of 8.92%. The company had revenue of $188.84 million for the quarter, compared to analysts' expectations of $185.91 million. During the same period in the prior year, the firm posted $0.21 EPS. The firm's quarterly revenue was down .8% on a year-over-year basis. As a group, equities research analysts forecast 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. Investors of record on Friday, June 13th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Friday, June 13th. National Storage Affiliates Trust's dividend payout ratio is currently 367.74%.

Hedge Funds Weigh In On National Storage Affiliates Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fourth Dimension Wealth LLC acquired a new stake in shares of National Storage Affiliates Trust in the fourth quarter valued at approximately $28,000. UMB Bank n.a. boosted its holdings in shares of National Storage Affiliates Trust by 71.9% in the second quarter. UMB Bank n.a. now owns 906 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 379 shares in the last quarter. Advisors Asset Management Inc. bought a new position in shares of National Storage Affiliates Trust in the first quarter valued at approximately $32,000. Quarry LP boosted its holdings 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 in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings 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 in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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.