National Storage Affiliates Trust (NYSE:NSA) Price Target Raised to $40.00 at Wells Fargo & Company

National Storage Affiliates Trust (NYSE:NSA) had its price objective increased by Wells Fargo & Company from $36.00 to $40.00 in a report published on Friday morning, Benzinga reports. They currently have an underweight rating on the real estate investment trust’s stock.

Separately, Evercore ISI boosted their target price on National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an underperform rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, National Storage Affiliates Trust presently has a consensus rating of Hold and an average target price of $37.44.

National Storage Affiliates Trust Price Performance

NSA opened at $43.61 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.01 and a current ratio of 1.01. National Storage Affiliates Trust has a 52-week low of $27.86 and a 52-week high of $46.84. The stock has a market capitalization of $3.27 billion, a PE ratio of 22.83 and a beta of 0.95. The stock’s 50 day moving average price is $40.54 and its 200-day moving average price is $38.26.

National Storage Affiliates Trust (NYSE:NSA) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. National Storage Affiliates Trust had a return on equity of 10.30% and a net margin of 22.07%. The firm had revenue of $196.15 million for the quarter, compared to analysts’ expectations of $191.70 million. During the same period in the previous year, the firm earned $0.66 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts predict that National Storage Affiliates Trust will post 2.49 EPS for the current year.

National Storage Affiliates Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.14%. The ex-dividend date was Friday, June 14th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 117.28%.

Insiders Place Their Bets

In related news, Director Chad Leroy Meisinger bought 18,405 shares of the company’s stock in a transaction on Friday, June 7th. The shares were acquired at an average cost of $37.74 per share, with a total value of $694,604.70. Following the completion of the acquisition, the director now owns 114,155 shares of the company’s stock, valued at approximately $4,308,209.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NSA. Fifth Third Bancorp lifted its holdings in shares of National Storage Affiliates Trust by 436.8% during the fourth quarter. Fifth Third Bancorp now owns 1,181 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 961 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of National Storage Affiliates Trust during the first quarter valued at $113,000. Metis Global Partners LLC bought a new position in shares of National Storage Affiliates Trust during the fourth quarter valued at $210,000. Highland Capital Management LLC bought a new position in shares of National Storage Affiliates Trust during the second quarter valued at $212,000. Finally, Colonial River Wealth Management LLC bought a new position in shares of National Storage Affiliates Trust during the fourth quarter valued at $220,000. 99.97% of the stock is owned by institutional investors.

About National Storage Affiliates Trust

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.