National Storage Affiliates Trust (NYSE:NSA) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of National Storage Affiliates Trust (NYSE:NSA) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. They currently have $36.00 target price on the real estate investment trust’s stock.

According to Zacks, “National Storage Affiliates Trust is a real estate investment trust. The company is focused on the ownership, operation and acquisition of self-storage properties primarily in the United States. National Storage Affiliates Trust is based in Houston, United States. “

A number of other analysts have also issued reports on NSA. Robert W. Baird set a $37.00 price target on National Storage Affiliates Trust and gave the stock a buy rating in a research note on Wednesday, August 21st. ValuEngine lowered National Storage Affiliates Trust from a buy rating to a hold rating in a research note on Wednesday, September 4th. Morgan Stanley lifted their price target on National Storage Affiliates Trust from $27.00 to $32.00 and gave the stock an equal weight rating in a research note on Monday, September 16th. Stifel Nicolaus assumed coverage on National Storage Affiliates Trust in a research note on Monday, August 19th. They issued a buy rating and a $36.00 price target on the stock. Finally, Wells Fargo & Co lifted their price target on National Storage Affiliates Trust from $32.00 to $36.00 and gave the stock an outperform rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $33.83.

Shares of NYSE:NSA traded up $0.04 during trading on Thursday, reaching $32.61. The stock had a trading volume of 324,401 shares, compared to its average volume of 366,351. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.64 and a current ratio of 0.64. The business has a fifty day moving average price of $33.81 and a 200-day moving average price of $31.58. The stock has a market cap of $1.94 billion, a PE ratio of 23.63, a PEG ratio of 4.19 and a beta of 0.32. National Storage Affiliates Trust has a 1-year low of $25.11 and a 1-year high of $35.76.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.59). The firm had revenue of $101.34 million during the quarter, compared to analyst estimates of $100.49 million. National Storage Affiliates Trust had a negative return on equity of 1.45% and a negative net margin of 4.87%. The business’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts expect that National Storage Affiliates Trust will post 1.53 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cutler Group LP acquired a new position in National Storage Affiliates Trust during the third quarter worth $26,000. FMR LLC acquired a new position in National Storage Affiliates Trust during the first quarter worth $32,000. Marshall Wace North America L.P. boosted its stake in National Storage Affiliates Trust by 21.6% during the first quarter. Marshall Wace North America L.P. now owns 1,886 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 335 shares during the last quarter. Pearl River Capital LLC boosted its stake in National Storage Affiliates Trust by 337.4% during the second quarter. Pearl River Capital LLC now owns 2,642 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 2,038 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in National Storage Affiliates Trust by 35.2% during the second quarter. Russell Investments Group Ltd. now owns 5,157 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 1,344 shares during the last quarter. 94.86% of the stock is currently owned by institutional investors.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States. The Company currently holds ownership interests in and operates 709 self storage properties located in 35 states and Puerto Rico with approximately 44.9 million rentable square feet.

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