Zacks Investment Research Upgrades National Storage Affiliates Trust (NYSE:NSA) to “Buy”

National Storage Affiliates Trust (NYSE:NSA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $54.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.09% from the stock’s current price.

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. “

Several other brokerages have also commented on NSA. Truist Securities increased their price target on shares of National Storage Affiliates Trust from $36.00 to $40.00 in a research note on Monday, March 22nd. Wells Fargo & Company increased their price target on shares of National Storage Affiliates Trust from $45.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, May 27th. Truist increased their price target on shares of National Storage Affiliates Trust from $36.00 to $40.00 in a research note on Monday, March 22nd. BMO Capital Markets restated a “buy” rating on shares of National Storage Affiliates Trust in a research report on Tuesday, March 9th. Finally, Morgan Stanley lifted their price objective on shares of National Storage Affiliates Trust from $39.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. National Storage Affiliates Trust has an average rating of “Buy” and an average price target of $45.14.

NYSE:NSA opened at $49.50 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.54 and a quick ratio of 0.54. The business’s fifty day moving average is $44.52. The firm has a market capitalization of $3.79 billion, a PE ratio of 79.84 and a beta of 0.36. National Storage Affiliates Trust has a fifty-two week low of $26.71 and a fifty-two week high of $49.50.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings data on Monday, May 3rd. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.26). The firm had revenue of $122.99 million during the quarter, compared to analysts’ expectations of $118.50 million. National Storage Affiliates Trust had a net margin of 13.93% and a return on equity of 5.16%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. Equities research analysts predict that National Storage Affiliates Trust will post 1.96 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in NSA. FMR LLC acquired a new position in shares of National Storage Affiliates Trust during the 1st quarter worth $32,000. Marshall Wace North America L.P. increased its position in National Storage Affiliates Trust by 21.6% during the 1st quarter. Marshall Wace North America L.P. now owns 1,886 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 335 shares in the last quarter. Veriti Management LLC purchased a new stake in National Storage Affiliates Trust during the 4th quarter worth about $74,000. Van ECK Associates Corp increased its position in National Storage Affiliates Trust by 33.2% during the 4th quarter. Van ECK Associates Corp now owns 2,516 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 627 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in National Storage Affiliates Trust by 5,917.0% in the 4th quarter. Assetmark Inc. now owns 2,828 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 2,781 shares during the period. 81.67% of the stock is 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. As of September 30, 2020, the Company held ownership interests in and operated 788 self storage properties located in 35 states and Puerto Rico with approximately 49.5 million rentable square feet.

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