National Storage Affiliates Trust (NYSE:NSA) Reaches New 52-Week High on Analyst Upgrade

Shares of National Storage Affiliates Trust (NYSE:NSA) hit a new 52-week high during mid-day trading on Monday after Evercore ISI raised their price target on the stock from $40.00 to $41.00. Evercore ISI currently has an underperform rating on the stock. National Storage Affiliates Trust traded as high as $48.09 and last traded at $47.88, with a volume of 21157 shares. The stock had previously closed at $47.66.

Several other analysts also recently issued reports on NSA. KeyCorp downgraded shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Barclays upped their target price on National Storage Affiliates Trust from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Truist Financial raised their price target on National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Wells Fargo & Company boosted their price target on National Storage Affiliates Trust from $36.00 to $40.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. Finally, Citigroup increased their price objective on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a research note on Friday, August 30th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, National Storage Affiliates Trust currently has an average rating of “Hold” and an average target price of $40.06.

Hedge Funds Weigh In On National Storage Affiliates Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NSA. Northwestern Mutual Wealth Management Co. bought a new position in shares of National Storage Affiliates Trust in the second quarter valued at approximately $33,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of National Storage Affiliates Trust in the second quarter valued at $39,000. Rothschild Investment LLC bought a new position in National Storage Affiliates Trust during the second quarter valued at about $59,000. Signaturefd LLC grew its holdings in National Storage Affiliates Trust by 48.1% during the second quarter. Signaturefd LLC now owns 2,035 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 661 shares during the period. Finally, SG Americas Securities LLC bought a new stake in National Storage Affiliates Trust in the first quarter worth about $113,000. 99.97% of the stock is owned by institutional investors.

National Storage Affiliates Trust Stock Down 1.1 %

The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s fifty day simple moving average is $44.52 and its two-hundred day simple moving average is $40.23. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 25.21 and a beta of 0.98.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.47). The company had revenue of $190.50 million during the quarter, compared to analyst estimates of $186.37 million. National Storage Affiliates Trust had a return on equity of 10.43% and a net margin of 21.23%. The business’s revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. On average, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.39 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 117.28%.

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.