National Storage Affiliates Trust (NYSE:NSA) Hits New 12-Month High on Analyst Upgrade

National Storage Affiliates Trust (NYSE:NSA) shares hit a new 52-week high during 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.

Other research analysts have also recently issued reports about the stock. Truist Financial lifted their price target on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Barclays boosted their price target on National Storage Affiliates Trust from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 22nd. Robert W. Baird raised their price objective on National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Citigroup boosted their target price on National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, KeyCorp cut National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, National Storage Affiliates Trust has an average rating of “Hold” and a consensus price target of $40.06.

Institutional Investors Weigh In On National Storage Affiliates Trust

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

National Storage Affiliates Trust Stock Down 1.1 %

The company’s 50-day simple moving average is $44.52 and its two-hundred day simple moving average is $40.23. The firm has a market capitalization of $3.61 billion, a P/E ratio of 25.21 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.72 and a quick ratio of 0.72.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.47). National Storage Affiliates Trust had a net margin of 21.23% and a return on equity of 10.43%. The company had revenue of $190.50 million for the quarter, compared to the consensus estimate of $186.37 million. During the same period in the prior year, the firm posted $0.68 EPS. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, research analysts expect that National Storage Affiliates Trust will post 2.39 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 4.65%. The ex-dividend date is Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio is currently 117.28%.

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.