Wells Fargo & Company Boosts National Storage Affiliates Trust (NYSE:NSA) Price Target to $42.00

National Storage Affiliates Trust (NYSE:NSA) had its target price boosted by analysts at Wells Fargo & Company from $40.00 to $42.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 4.37% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Jefferies Financial Group raised their price objective on National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Truist Financial upped their price objective on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Robert W. Baird boosted their price objective on National Storage Affiliates Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. KeyCorp downgraded National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Finally, Barclays lifted 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.72.

National Storage Affiliates Trust Price Performance

NYSE:NSA traded down $1.03 during trading hours on Monday, reaching $43.92. 47,489 shares of the company’s stock were exchanged, compared to its average volume of 737,687. The company has a market capitalization of $3.29 billion, a P/E ratio of 22.99 and a beta of 0.98. National Storage Affiliates Trust has a 12 month low of $27.86 and a 12 month high of $49.44. The business’s 50-day simple moving average is $45.93 and its two-hundred day simple moving average is $41.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.28.

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 analysts’ consensus estimates 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 firm had revenue of $190.50 million for the quarter, compared to analyst estimates of $186.37 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s revenue was down 11.6% compared to the same quarter last year. Sell-side analysts expect that National Storage Affiliates Trust will post 2.41 EPS for the current fiscal year.

Hedge Funds Weigh In On National Storage Affiliates Trust

Several institutional investors have recently bought and sold shares of NSA. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of National Storage Affiliates Trust in the second quarter valued at $33,000. Ashton Thomas Private Wealth LLC bought a new stake in National Storage Affiliates Trust during the 2nd quarter worth about $39,000. Rothschild Investment LLC acquired a new stake in National Storage Affiliates Trust in the 2nd quarter valued at about $59,000. GAMMA Investing LLC raised its stake in shares of National Storage Affiliates Trust by 174.9% in the third quarter. GAMMA Investing LLC now owns 1,457 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 927 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of 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 purchasing an additional 661 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

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.