National Storage Affiliates Trust (NYSE:NSA) Receives Average Recommendation of “Reduce” from Brokerages

National Storage Affiliates Trust (NYSE:NSA) has earned a consensus rating of “Reduce” from the fourteen analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and twelve have given a hold recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $38.6018.

Several equities analysts have issued reports on the stock. UBS Group upped their price objective on shares of National Storage Affiliates Trust from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday. Evercore set a $46.00 target price on National Storage Affiliates Trust and gave the stock a “cautious” rating in a research report on Monday, July 6th. Truist Financial boosted their price objective on National Storage Affiliates Trust from $38.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, June 23rd. Citigroup upped their price target on shares of National Storage Affiliates Trust from $33.50 to $43.62 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Finally, Barclays increased their price target on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th.

National Storage Affiliates Trust Stock Down 0.7%

Shares of NYSE:NSA opened at $44.74 on Friday. The company has a market capitalization of $3.45 billion, a PE ratio of 59.66 and a beta of 1.03. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 3.02. National Storage Affiliates Trust has a twelve month low of $27.43 and a twelve month high of $46.47. The firm has a 50 day simple moving average of $43.91 and a 200-day simple moving average of $38.37.

National Storage Affiliates Trust (NYSE:NSA) last posted its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.38). National Storage Affiliates Trust had a net margin of 10.48% and a return on equity of 6.46%. The company had revenue of $185.40 million during the quarter, compared to analysts’ expectations of $181.69 million. During the same period last year, the business earned $0.54 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts predict that National Storage Affiliates Trust will post 2.22 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 21st will be issued a $0.0336 dividend. The ex-dividend date of this dividend is Tuesday, July 21st. National Storage Affiliates Trust’s dividend payout ratio is presently 304.00%.

Institutional Investors Weigh In On National Storage Affiliates Trust

Hedge funds have recently made changes to their positions in the business. Balyasny Asset Management L.P. increased its position in National Storage Affiliates Trust by 11.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,622,624 shares of the real estate investment trust’s stock valued at $73,984,000 after acquiring an additional 273,095 shares during the period. Cohen & Steers Inc. raised its stake in shares of National Storage Affiliates Trust by 145.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,161,651 shares of the real estate investment trust’s stock worth $60,980,000 after purchasing an additional 1,281,337 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of National Storage Affiliates Trust by 30.6% during the first quarter. Jennison Associates LLC now owns 1,274,412 shares of the real estate investment trust’s stock worth $48,096,000 after purchasing an additional 298,602 shares during the period. Rush Island Management LP acquired a new stake in shares of National Storage Affiliates Trust during the fourth quarter worth $33,788,000. Finally, Bank of America Corp DE grew its position in National Storage Affiliates Trust by 159.2% in the 3rd quarter. Bank of America Corp DE now owns 1,163,764 shares of the real estate investment trust’s stock valued at $35,169,000 after buying an additional 714,840 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.

The company’s core business involves providing flexible storage solutions to both individual and commercial customers.