National Storage Affiliates (NSA) Lifted to “Buy” at Jefferies Group
National Storage Affiliates (NYSE:NSA) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm 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 indicates a potential upside of 21.46% from the company’s previous close.
A number of other brokerages have also commented on NSA. Robert W. Baird reissued an “outperform” rating and set a $25.00 price objective (up previously from $24.00) on shares of National Storage Affiliates in a report on Wednesday, July 6th. Zacks Investment Research raised National Storage Affiliates from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Wednesday, July 6th. FBR & Co reissued a “hold” rating and set a $22.00 price objective on shares of National Storage Affiliates in a report on Tuesday, June 28th. Finally, DA Davidson assumed coverage on National Storage Affiliates in a report on Friday, June 24th. They set a “buy” rating and a $25.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $22.79.
National Storage Affiliates (NYSE:NSA) traded up 1.06% during midday trading on Wednesday, hitting $19.97. The company had a trading volume of 161,488 shares. The company’s 50 day moving average is $20.26 and its 200-day moving average is $20.69. The company has a market cap of $463.52 million, a P/E ratio of 74.24 and a beta of 0.64. National Storage Affiliates has a one year low of $13.10 and a one year high of $22.86.
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National Storage Affiliates (NYSE:NSA) last posted its quarterly earnings results 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. National Storage Affiliates had a return on equity of 3.46% and a net margin of 11.53%. The company earned $47.30 million during the quarter, compared to the consensus estimate of $44.69 million. On average, equities analysts predict that National Storage Affiliates will post $1.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Tuesday, September 13th. National Storage Affiliates’s dividend payout ratio (DPR) is currently 338.47%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in National Storage Affiliates by 1,385.9% in the second quarter. Royal Bank of Canada now owns 743,392 shares of the real estate investment trust’s stock worth $15,479,000 after buying an additional 693,363 shares during the period. IFP Advisors Inc raised its stake in 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. Public Employees Retirement System of Ohio raised its stake in National Storage Affiliates by 30.1% in the second quarter. Public Employees Retirement System of Ohio now owns 42,894 shares of the real estate investment trust’s stock worth $893,000 after buying an additional 9,933 shares during the period. Schwab Charles Investment Management Inc. raised its stake in National Storage Affiliates by 10.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 155,177 shares of the real estate investment trust’s stock worth $3,231,000 after buying an additional 14,560 shares during the period. Finally, Stifel Financial Corp acquired a new stake in National Storage Affiliates during the second quarter worth about $729,000. 97.09% of the stock is currently owned by hedge funds and other institutional investors.
National Storage Affiliates Company Profile
National Storage Affiliates Trust (NSA) is a real estate investment trust focused on the ownership, operation, and acquisition of self-storage properties located within the metropolitan statistical areas throughout the United States. It serves as the general partner of, and operates its business through its operating partnership subsidiary, NSA OP, LP.
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