Zacks Investment Research Upgrades National Storage Affiliates (NSA) to Buy
National Storage Affiliates (NYSE:NSA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $22.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s price target indicates a potential upside of 12.42% from the stock’s current price.
According to Zacks, “National Storage Affiliates Trust is a real estate investment trust. The company is focused on the ownership, operation and acquisition of self-storage properties primarily in the United States. National Storage Affiliates Trust is based in Houston, United States. “
Other analysts also recently issued reports about the stock. 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 price target on the stock. Jefferies Group upgraded shares of National Storage Affiliates from a “hold” rating to a “buy” rating and boosted their price target for the stock from $22.00 to $24.00 in a research report on Wednesday, September 21st. FBR & Co reaffirmed a “hold” rating on shares of National Storage Affiliates in a research note on Monday, September 12th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $25.00 price objective (up previously from $24.00) on shares of National Storage Affiliates in a research note on Wednesday, July 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.64.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/08/zacks-investment-research-upgrades-national-storage-affiliates-nsa-to-buy.html
Shares of National Storage Affiliates (NYSE:NSA) traded up 1.61% during trading on Wednesday, hitting $19.57. 306,775 shares of the company traded hands. National Storage Affiliates has a one year low of $14.00 and a one year high of $22.86. The firm has a 50 day moving average price of $20.27 and a 200-day moving average price of $20.78. The stock has a market cap of $454.24 million, a price-to-earnings ratio of 72.75 and a beta of 0.63.
National Storage Affiliates (NYSE:NSA) last released its quarterly earnings results on Monday, August 8th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. National Storage Affiliates had a net margin of 11.53% and a return on equity of 3.46%. The company had revenue of $47.30 million for the quarter, compared to the consensus estimate of $44.69 million. Analysts predict that National Storage Affiliates will post $1.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Tuesday, September 13th. National Storage Affiliates’s dividend payout ratio (DPR) is currently 338.47%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 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 valued at $68,186,000 after buying an additional 2,378,938 shares during the period. Royal Bank of Canada increased its position 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 valued at $15,479,000 after buying an additional 693,363 shares during the period. Numeric Investors LLC increased its position in 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 valued at $16,258,000 after buying an additional 632,909 shares during the period. Teachers Advisors Inc. increased its position in 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 valued at $9,515,000 after buying an additional 421,560 shares during the period. Finally, Castle Ridge Investment Management LP purchased a new position in National Storage Affiliates during the second quarter valued at $8,120,000. 97.09% of the stock is currently owned by institutional investors and hedge funds.
About National Storage Affiliates
National Storage Affiliates Trust is an integrated, self-administered and self-managed real estate investment trust. The Company is focused on the ownership, operation and acquisition of self-storage properties located within various metropolitan statistical areas (MSAs) across the United States. The Company’s segment consists of investments in self-storage properties located in the United States.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for National Storage Affiliates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Storage Affiliates and related companies with MarketBeat.com's FREE daily email newsletter.