National Storage Affiliates Trust (NYSE:NSA) Upgraded to Strong Sell at BNP Paribas

BNP Paribas upgraded shares of National Storage Affiliates Trust (NYSE:NSA) to a strong sell rating in a report published on Tuesday morning, MarketBeat Ratings reports.

NSA has been the topic of a number of other research reports. Mizuho assumed coverage on shares of National Storage Affiliates Trust in a report on Wednesday, April 9th. They issued a “neutral” rating and a $35.00 target price on the stock. Robert W. Baird cut their price target on National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Truist Financial set a $37.00 price target on National Storage Affiliates Trust and gave the company a “hold” rating in a report on Monday, May 19th. Morgan Stanley cut National Storage Affiliates Trust from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a report on Tuesday, May 27th. Finally, Barclays cut their price target on National Storage Affiliates Trust from $42.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, National Storage Affiliates Trust has an average rating of “Hold” and a consensus price target of $38.63.

National Storage Affiliates Trust Stock Performance

Shares of NSA stock opened at $32.16 on Tuesday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.22 and a current ratio of 0.22. The company’s 50-day simple moving average is $34.83 and its 200-day simple moving average is $36.62. National Storage Affiliates Trust has a one year low of $30.88 and a one year high of $49.44. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 54.51 and a beta of 1.14.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). National Storage Affiliates Trust had a return on equity of 4.59% and a net margin of 8.59%. The business had revenue of $188.35 million during the quarter, compared to the consensus estimate of $184.65 million. During the same period in the prior year, the business earned $0.60 EPS. The business’s revenue was down 4.0% on a year-over-year basis. Equities analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.28 annualized dividend and a yield of 7.09%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 386.44%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC acquired a new position in National Storage Affiliates Trust in the fourth quarter worth approximately $28,000. Advisors Asset Management Inc. acquired a new position in National Storage Affiliates Trust in the first quarter worth approximately $32,000. Quarry LP boosted its stake in National Storage Affiliates Trust by 444.7% in the 4th quarter. Quarry LP now owns 926 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 756 shares during the period. Jones Financial Companies Lllp boosted its stake in National Storage Affiliates Trust by 207.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,217 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 821 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new position in National Storage Affiliates Trust in the 4th quarter worth approximately $50,000. Institutional investors and hedge funds 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.