National Storage Affiliates Trust (NYSE:NSA) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of National Storage Affiliates Trust (NYSE:NSA) from a strong sell rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on NSA. Wall Street Zen raised National Storage Affiliates Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. KeyCorp reaffirmed a “sector weight” rating on shares of National Storage Affiliates Trust in a research note on Tuesday, November 4th. Evercore ISI boosted their price target on National Storage Affiliates Trust from $31.00 to $32.00 and gave the stock an “underperform” rating in a research report on Monday, September 15th. Mizuho lowered their price target on National Storage Affiliates Trust from $34.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday. Finally, National Bankshares set a $32.00 price objective on shares of National Storage Affiliates Trust in a research note on Friday. Ten research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $33.27.

National Storage Affiliates Trust Stock Performance

NSA stock traded up $0.24 during trading on Monday, hitting $29.45. 27,889 shares of the company’s stock traded hands, compared to its average volume of 977,665. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 48.28 and a beta of 1.19. National Storage Affiliates Trust has a 52 week low of $28.02 and a 52 week high of $42.97. The stock has a fifty day moving average price of $30.14 and a two-hundred day moving average price of $31.24. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 2.74.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. National Storage Affiliates Trust had a net margin of 8.94% and a return on equity of 5.09%. The business had revenue of $188.70 million during the quarter, compared to the consensus estimate of $184.04 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. As a group, equities analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 7.7%. The ex-dividend date is Monday, December 15th. National Storage Affiliates Trust’s payout ratio is presently 373.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. raised its position in National Storage Affiliates Trust by 63.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 38,991 shares of the real estate investment trust’s stock valued at $1,178,000 after buying an additional 15,203 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in National Storage Affiliates Trust by 7.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 159,580 shares of the real estate investment trust’s stock valued at $4,839,000 after acquiring an additional 11,633 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of National Storage Affiliates Trust in the 3rd quarter valued at about $8,090,000. Private Capital Management LLC purchased a new stake in shares of National Storage Affiliates Trust in the third quarter worth approximately $242,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of National Storage Affiliates Trust by 4,238.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 271,349 shares of the real estate investment trust’s stock worth $8,200,000 after purchasing an additional 265,095 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

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.