National Storage Affiliates (NYSE:NSA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $22.00 target price on the real estate investment trust’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 10.17% from the stock’s current price.
According to Zacks, “National Storage Affiliates Trust is a real estate investment trust. The company is focused on the ownership, operation and acquisition of self-storage properties primarily in the United States. National Storage Affiliates Trust is based in Houston, United States. “
A number of other equities research analysts have also weighed in on the company. Jefferies Group upgraded National Storage Affiliates from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $22.00 to $24.00 in a research report on Wednesday, September 21st. DA Davidson set a $26.00 price target on National Storage Affiliates and gave the company a “buy” rating in a research report on Thursday, September 15th. FBR & Co restated a “hold” rating on shares of National Storage Affiliates in a research report on Monday, September 12th. Finally, Robert W. Baird restated an “outperform” rating and set a $25.00 price target (up from $24.00) on shares of National Storage Affiliates in a research report on Wednesday, July 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $22.64.
Shares of National Storage Affiliates (NYSE:NSA) opened at 19.97 on Wednesday. The stock’s 50 day moving average price is $20.37 and its 200 day moving average price is $20.80. The stock has a market capitalization of $463.52 million, a price-to-earnings ratio of 74.24 and a beta of 0.63. National Storage Affiliates has a 12 month low of $14.00 and a 12 month high of $22.86.
National Storage Affiliates (NYSE:NSA) last issued its quarterly earnings data on Monday, August 8th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. The firm had revenue of $47.30 million for the quarter, compared to analyst estimates of $44.69 million. National Storage Affiliates had a return on equity of 3.46% and a net margin of 11.53%. Analysts expect that National Storage Affiliates will post $1.08 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend was Tuesday, September 13th. National Storage Affiliates’s dividend payout ratio (DPR) is 338.47%.
A number of large investors have recently added to or reduced their stakes in NSA. Palisade Capital Management LLC NJ bought a new stake in National Storage Affiliates during the second quarter valued at approximately $2,498,000. Monashee Investment Management LLC bought a new stake in National Storage Affiliates during the second quarter valued at approximately $3,123,000. Bank of New York Mellon Corp increased its stake in National Storage Affiliates by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 204,927 shares of the real estate investment trust’s stock valued at $4,266,000 after buying an additional 20,134 shares during the period. Henderson Group PLC bought a new stake in National Storage Affiliates during the second quarter valued at approximately $416,000. Finally, Sigma Planning Corp bought a new stake in National Storage Affiliates during the second quarter valued at approximately $208,000. 97.09% of the stock is currently owned by institutional investors and hedge funds.
National Storage Affiliates Company Profile
National Storage Affiliates Trust is an integrated, self-administered and self-managed real estate investment trust. The Company is focused on the ownership, operation and acquisition of self-storage properties located within various metropolitan statistical areas (MSAs) across the United States. The Company’s segment consists of investments in self-storage properties located in the United States.
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