National Storage Affiliates (NYSE:NSA) was upgraded by stock analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $24.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $22.00. Jefferies Group’s price target points to a potential upside of 13.64% from the company’s current price.
A number of other equities research analysts have also recently issued reports on the stock. DA Davidson started coverage on shares of National Storage Affiliates in a report on Friday, June 24th. They issued a “buy” rating and a $25.00 target price on the stock. Zacks Investment Research raised shares of National Storage Affiliates from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Wednesday, July 6th. FBR & Co reaffirmed a “hold” rating on shares of National Storage Affiliates in a report on Tuesday, August 9th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $25.00 target price (up from $24.00) on shares of National Storage Affiliates in a report on Wednesday, July 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $22.79.
National Storage Affiliates (NYSE:NSA) opened at 21.12 on Wednesday. The company has a market cap of $490.22 million, a PE ratio of 78.51 and a beta of 0.64. The firm’s 50-day moving average is $20.24 and its 200-day moving average is $20.69. National Storage Affiliates has a 52 week low of $13.10 and a 52 week high of $22.86.
National Storage Affiliates (NYSE:NSA) last issued its quarterly earnings results on Monday, August 8th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. National Storage Affiliates had a net margin of 11.53% and a return on equity of 3.46%. The firm had revenue of $47.30 million for the quarter, compared to analysts’ expectations of $44.69 million. On average, analysts expect that National Storage Affiliates will post $1.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 4.17%. National Storage Affiliates’s dividend payout ratio (DPR) is currently 338.47%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in shares of National Storage Affiliates by 146.5% in the second quarter. IFP Advisors Inc now owns 7,992 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 4,750 shares during the period. Brant Point Investment Management LLC bought a new position in shares of National Storage Affiliates during the second quarter worth approximately $208,000. Sigma Planning Corp bought a new position in shares of National Storage Affiliates during the second quarter worth approximately $208,000. Tower Research Capital LLC TRC bought a new position in shares of National Storage Affiliates during the second quarter worth approximately $232,000. Finally, Squarepoint Ops LLC bought a new position in shares of National Storage Affiliates during the first quarter worth approximately $237,000. Institutional investors and hedge funds own 97.09% of the company’s stock.
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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