National Storage Affiliates Trust (NYSE:NSA) Cut to Hold at Zacks Investment Research
National Storage Affiliates Trust (NYSE:NSA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.
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 research analysts have also issued research reports about the stock. Morgan Stanley raised their price target on shares of National Storage Affiliates Trust from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Stifel Nicolaus initiated coverage on shares of National Storage Affiliates Trust in a report on Monday, August 19th. They set a “buy” rating and a $36.00 price target for the company. Wells Fargo & Co lifted their price objective on shares of National Storage Affiliates Trust from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Robert W. Baird set a $37.00 price objective on shares of National Storage Affiliates Trust and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, ValuEngine lowered shares of National Storage Affiliates Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.00.
National Storage Affiliates Trust stock opened at $34.32 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.37 and a current ratio of 0.37. National Storage Affiliates Trust has a 52-week low of $25.11 and a 52-week high of $34.80. The firm has a 50 day moving average price of $33.52 and a two-hundred day moving average price of $30.70. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 4.37 and a beta of 0.32.
National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.57). National Storage Affiliates Trust had a negative return on equity of 0.41% and a negative net margin of 1.41%. The firm had revenue of $95.42 million for the quarter, compared to the consensus estimate of $95.75 million. During the same quarter in the previous year, the business posted $0.34 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, equities research analysts predict that National Storage Affiliates Trust will post 1.53 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in National Storage Affiliates Trust by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,624,526 shares of the real estate investment trust’s stock valued at $191,714,000 after purchasing an additional 213,375 shares during the period. Invesco Ltd. grew its position in National Storage Affiliates Trust by 228.9% in the 2nd quarter. Invesco Ltd. now owns 2,041,493 shares of the real estate investment trust’s stock valued at $59,081,000 after purchasing an additional 1,420,851 shares during the period. Nuveen Asset Management LLC acquired a new stake in National Storage Affiliates Trust in the 2nd quarter valued at $45,783,000. Renaissance Technologies LLC grew its position in National Storage Affiliates Trust by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,527,814 shares of the real estate investment trust’s stock valued at $44,215,000 after purchasing an additional 78,100 shares during the period. Finally, Jennison Associates LLC grew its position in National Storage Affiliates Trust by 2.9% in the 2nd quarter. Jennison Associates LLC now owns 991,750 shares of the real estate investment trust’s stock valued at $28,701,000 after purchasing an additional 28,036 shares during the period. Institutional investors own 92.92% of the company’s stock.
National Storage Affiliates Trust Company Profile
National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States. The Company currently holds ownership interests in and operates 709 self storage properties located in 35 states and Puerto Rico with approximately 44.9 million rentable square feet.
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