National Storage Affiliates (NSA) Shares Gap Up to $19.76
National Storage Affiliates (NYSE:NSA) shares gapped up before the market opened on Wednesday . The stock had previously closed at $19.63, but opened at $19.76. National Storage Affiliates shares last traded at $20.11, with a volume of 224,412 shares traded.
NSA has been the subject of a number of research analyst reports. Jefferies Group boosted their target price on shares of National Storage Affiliates from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Tuesday, May 31st. FBR & Co initiated coverage on shares of National Storage Affiliates in a research report on Thursday, June 23rd. They set a “market perform” rating and a $22.00 target price for the company. DA Davidson initiated coverage on shares of National Storage Affiliates in a research report on Friday, June 24th. They set a “buy” rating and a $25.00 target price for the company. Zacks Investment Research raised shares of National Storage Affiliates from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Wednesday, July 6th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $25.00 price objective (up previously from $24.00) on shares of National Storage Affiliates in a research report on Wednesday, July 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. National Storage Affiliates presently has an average rating of “Buy” and a consensus target price of $22.79.
The company has a market capitalization of $476.06 million, a price-to-earnings ratio of 76.25 and a beta of 0.64. The company’s 50-day moving average price is $20.23 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. The business earned $47.30 million during the quarter, compared to the consensus estimate of $44.69 million. National Storage Affiliates had a net margin of 11.53% and a return on equity of 3.46%. On average, equities research analysts forecast that National Storage Affiliates will post $1.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Tuesday, September 13th. National Storage Affiliates’s dividend payout ratio (DPR) is currently 338.47%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NSA. Vanguard Group Inc. increased its position in National Storage Affiliates by 265.5% in the second quarter. Vanguard Group Inc. now owns 3,275,083 shares of the real estate investment trust’s stock worth $68,186,000 after buying an additional 2,378,938 shares during the period. Royal Bank of Canada increased its position in shares of 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. Numeric Investors LLC increased its position in shares of National Storage Affiliates by 427.7% in the second quarter. Numeric Investors LLC now owns 780,885 shares of the real estate investment trust’s stock worth $16,258,000 after buying an additional 632,909 shares during the period. Teachers Advisors Inc. increased its position in shares of National Storage Affiliates by 1,188.7% in the second quarter. Teachers Advisors Inc. now owns 457,023 shares of the real estate investment trust’s stock worth $9,515,000 after buying an additional 421,560 shares during the period. Finally, Castle Ridge Investment Management LP purchased a new position in shares of National Storage Affiliates during the second quarter worth approximately $8,120,000. 97.09% of the stock is owned by institutional investors and hedge funds.
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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