National Storage Affiliates (NSA) Raised to Buy at Jefferies Group
National Storage Affiliates (NYSE:NSA) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
NSA has been the topic of a number of other reports. FBR & Co reaffirmed a “marketperform” rating and set a $22.00 price target on shares of National Storage Affiliates in a report on Wednesday, June 22nd. DA Davidson set a $26.00 price target on National Storage Affiliates and gave the company a “buy” rating in a report on Thursday, September 15th. Robert W. Baird reaffirmed an “outperform” rating and set a $25.00 price target (up from $24.00) on shares of National Storage Affiliates in a report on Wednesday, July 6th. Finally, Zacks Investment Research raised National Storage Affiliates from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Friday, August 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. National Storage Affiliates has a consensus rating of “Buy” and a consensus price target of $22.50.
National Storage Affiliates (NYSE:NSA) opened at 19.76 on Wednesday. The stock has a market cap of $458.65 million, a price-to-earnings ratio of 73.46 and a beta of 0.64. National Storage Affiliates has a 12-month low of $13.10 and a 12-month high of $22.86. The firm’s 50-day moving average price is $20.26 and its 200-day moving average price is $20.69.
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National Storage Affiliates (NYSE:NSA) last released its earnings results on Monday, August 8th. The real estate investment trust reported $0.28 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $47.30 million for 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 fiscal year.
The company 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 is Tuesday, September 13th. National Storage Affiliates’s dividend payout ratio is 338.47%.
A number of hedge funds and other institutional investors have recently bought and sold shares of NSA. TIAA CREF Investment Management LLC increased its position in National Storage Affiliates by 42.7% in the first quarter. TIAA CREF Investment Management LLC now owns 172,682 shares of the real estate investment trust’s stock worth $3,661,000 after buying an additional 51,679 shares in the last quarter. JPMorgan Chase & Co. increased its position in National Storage Affiliates by 16.0% in the first quarter. JPMorgan Chase & Co. now owns 100,826 shares of the real estate investment trust’s stock worth $2,138,000 after buying an additional 13,912 shares in the last quarter. Menta Capital LLC purchased a new position in National Storage Affiliates during the first quarter worth $413,000. State Street Corp increased its position in National Storage Affiliates by 7.8% in the first quarter. State Street Corp now owns 591,403 shares of the real estate investment trust’s stock worth $12,539,000 after buying an additional 43,046 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in National Storage Affiliates during the first quarter worth $1,009,000. 97.09% of the stock is currently owned by institutional investors.
About National Storage Affiliates
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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