National Storage Affiliates Trust (NYSE:NSA) Reaches New 52-Week High on Analyst Upgrade

National Storage Affiliates Trust (NYSE:NSA)’s share price hit a new 52-week high during trading on Monday after Evercore ISI raised their price target on the stock from $40.00 to $41.00. Evercore ISI currently has an underperform rating on the stock. National Storage Affiliates Trust traded as high as $48.09 and last traded at $47.88, with a volume of 21157 shares changing hands. The stock had previously closed at $47.66.

A number of other equities research analysts have also commented on the company. Barclays upped their target price on National Storage Affiliates Trust from $38.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 22nd. Robert W. Baird upped their price objective on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Truist Financial raised their target price on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Citigroup upped their price target on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, KeyCorp lowered National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.06.

Hedge Funds Weigh In On National Storage Affiliates Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in shares of National Storage Affiliates Trust during the 4th quarter worth approximately $2,468,000. Balyasny Asset Management L.P. boosted its stake in National Storage Affiliates Trust by 69.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,309,828 shares of the real estate investment trust’s stock valued at $95,789,000 after acquiring an additional 950,171 shares in the last quarter. D. Scott Neal Inc. grew its holdings in shares of National Storage Affiliates Trust by 20.3% during the second quarter. D. Scott Neal Inc. now owns 277,176 shares of the real estate investment trust’s stock worth $11,425,000 after purchasing an additional 46,848 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of National Storage Affiliates Trust by 86.2% during the first quarter. BNP Paribas Financial Markets now owns 85,539 shares of the real estate investment trust’s stock worth $3,350,000 after purchasing an additional 39,609 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of National Storage Affiliates Trust by 371.6% during the first quarter. Cetera Investment Advisers now owns 83,867 shares of the real estate investment trust’s stock worth $3,284,000 after purchasing an additional 66,082 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

National Storage Affiliates Trust Price Performance

The firm has a market capitalization of $3.61 billion, a PE ratio of 25.21 and a beta of 0.98. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.28. The company has a fifty day moving average price of $44.52 and a two-hundred day moving average price of $40.23.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.47). The business had revenue of $190.50 million for the quarter, compared to analyst estimates of $186.37 million. National Storage Affiliates Trust had a return on equity of 10.43% and a net margin of 21.23%. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Sell-side analysts forecast that National Storage Affiliates Trust will post 2.39 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.56 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.24 annualized dividend and a dividend yield of 4.65%. National Storage Affiliates Trust’s dividend payout ratio is currently 117.28%.

National Storage Affiliates Trust Company Profile

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.