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

National Storage Affiliates Trust (NYSE:NSA) has earned a consensus rating of “Reduce” from the nine analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $43.06.

Several equities analysts recently commented on NSA shares. Deutsche Bank Aktiengesellschaft raised shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating and decreased their price objective for the company from $40.00 to $38.00 in a research report on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Barclays cut their target price on National Storage Affiliates Trust from $46.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Robert W. Baird lifted their price target on National Storage Affiliates Trust from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th.

National Storage Affiliates Trust Stock Performance

Shares of NSA opened at $37.44 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. The firm has a market cap of $2.85 billion, a PE ratio of 21.89 and a beta of 1.03. National Storage Affiliates Trust has a 12 month low of $34.50 and a 12 month high of $49.44. The stock has a fifty day moving average price of $39.64 and a 200-day moving average price of $42.91.

National Storage Affiliates Trust (NYSE:NSA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.42). National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The business had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.45 million. During the same period in the prior year, the company earned $0.67 earnings per share. The company’s quarterly revenue was down 20.2% on a year-over-year basis. Equities research analysts predict that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.57 per share. The ex-dividend date was Friday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.09%. This is a boost from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. National Storage Affiliates Trust’s dividend payout ratio is presently 133.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management purchased a new stake in National Storage Affiliates Trust in the 3rd quarter valued at $696,000. Allspring Global Investments Holdings LLC boosted its position in shares of National Storage Affiliates Trust by 515.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 52,177 shares of the real estate investment trust’s stock valued at $2,515,000 after acquiring an additional 43,698 shares during the last quarter. Hancock Whitney Corp grew its holdings in shares of National Storage Affiliates Trust by 1,760.2% in the third quarter. Hancock Whitney Corp now owns 208,195 shares of the real estate investment trust’s stock valued at $10,035,000 after purchasing an additional 197,003 shares during the period. Cerity Partners LLC increased its position in National Storage Affiliates Trust by 35.7% during the third quarter. Cerity Partners LLC now owns 47,784 shares of the real estate investment trust’s stock worth $2,303,000 after purchasing an additional 12,583 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in National Storage Affiliates Trust during the second quarter worth about $767,000. 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.