National Storage Affiliates Trust (NYSE:NSA) Price Target Raised to $42.00 at Wells Fargo & Company

National Storage Affiliates Trust (NYSE:NSA) had its price objective upped by Wells Fargo & Company from $40.00 to $42.00 in a report published on Monday, Benzinga reports. The firm currently has an underweight rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the company. KeyCorp cut National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research report on Monday, September 9th. Barclays boosted their target price on shares of 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. Truist Financial increased their price target on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Evercore ISI boosted their price objective on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 16th. Finally, Citigroup raised their target price on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a report on Friday, August 30th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.72.

National Storage Affiliates Trust Stock Performance

NYSE NSA opened at $43.25 on Monday. The firm has a 50-day moving average price of $45.95 and a two-hundred day moving average price of $41.75. National Storage Affiliates Trust has a 12-month low of $27.86 and a 12-month high of $49.44. The company has a market capitalization of $3.24 billion, a P/E ratio of 24.16 and a beta of 0.98. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.28.

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 (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.47). National Storage Affiliates Trust had a net margin of 21.23% and a return on equity of 10.43%. The company had revenue of $190.50 million during the quarter, compared to the consensus estimate of $186.37 million. During the same quarter last year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was down 11.6% on a year-over-year basis. Analysts anticipate that National Storage Affiliates Trust will post 2.41 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend was Friday, September 13th. National Storage Affiliates Trust’s payout ratio is 125.14%.

Institutional Investors Weigh In On National Storage Affiliates Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pasadena Private Wealth LLC boosted its stake in shares of National Storage Affiliates Trust by 0.9% during the second quarter. Pasadena Private Wealth LLC now owns 28,764 shares of the real estate investment trust’s stock valued at $1,186,000 after purchasing an additional 255 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in National Storage Affiliates Trust by 3.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,009 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 257 shares during the period. SPC Financial Inc. grew its holdings in National Storage Affiliates Trust by 4.8% during the 2nd quarter. SPC Financial Inc. now owns 6,500 shares of the real estate investment trust’s stock worth $268,000 after acquiring an additional 300 shares during the last quarter. Clear Creek Financial Management LLC increased its position in National Storage Affiliates Trust by 1.5% in the 2nd quarter. Clear Creek Financial Management LLC now owns 22,513 shares of the real estate investment trust’s stock valued at $928,000 after acquiring an additional 339 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of National Storage Affiliates Trust by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 18,644 shares of the real estate investment trust’s stock worth $768,000 after purchasing an additional 354 shares during the period. 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.