National Storage Affiliates Trust (NYSE:NSA) Price Target Cut to $42.00 by Analysts at Barclays

National Storage Affiliates Trust (NYSE:NSA) had its price objective dropped by investment analysts at Barclays from $46.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 16.83% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company upped their price target on National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised National Storage Affiliates Trust from a “sell” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $38.00 in a research note on Friday, January 10th. Jefferies Financial Group lifted their price target on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Evercore ISI upped their price objective on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research report on Monday, September 16th. Finally, Robert W. Baird lifted their target price on shares of National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $43.06.

National Storage Affiliates Trust Price Performance

Shares of NYSE NSA opened at $35.95 on Monday. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 21.02 and a beta of 1.03. The firm’s 50 day simple moving average is $41.04 and its 200-day simple moving average is $43.24. National Storage Affiliates Trust has a 12 month low of $34.50 and a 12 month high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.42). The firm had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.45 million. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The firm’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. Analysts expect that National Storage Affiliates Trust will post 2.4 EPS for the current year.

Hedge Funds Weigh In On National Storage Affiliates Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. BluePath Capital Management LLC grew its stake in National Storage Affiliates Trust by 23.8% during the 4th quarter. BluePath Capital Management LLC now owns 18,789 shares of the real estate investment trust’s stock valued at $682,000 after acquiring an additional 3,608 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new position in National Storage Affiliates Trust in the 4th quarter worth approximately $228,000. Harbor Capital Advisors Inc. boosted its holdings in shares of National Storage Affiliates Trust by 18.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 54,854 shares of the real estate investment trust’s stock worth $2,080,000 after purchasing an additional 8,662 shares during the last quarter. Versant Capital Management Inc grew its position in shares of National Storage Affiliates Trust by 233.6% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 514 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of National Storage Affiliates Trust by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 319,277 shares of the real estate investment trust’s stock valued at $15,389,000 after purchasing an additional 42,508 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

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.