National Storage Affiliates Trust (NYSE:NSA) Downgraded by SunTrust Banks to Sell

National Storage Affiliates Trust (NYSE:NSA) was downgraded by equities researchers at SunTrust Banks from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, January 15th, MarketBeat reports. They currently have a $30.00 price objective on the real estate investment trust’s stock. SunTrust Banks’ price objective suggests a potential downside of 14.16% from the stock’s current price.

Other analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of National Storage Affiliates Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. BMO Capital Markets reiterated a “hold” rating and set a $26.00 target price on shares of National Storage Affiliates Trust in a research note on Thursday, October 31st. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of National Storage Affiliates Trust in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $33.29.

Shares of NSA traded down $0.05 during mid-day trading on Wednesday, reaching $34.95. 187,841 shares of the stock traded hands, compared to its average volume of 259,616. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.26. The stock has a fifty day simple moving average of $33.71 and a 200 day simple moving average of $32.91. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -74.36, a P/E/G ratio of 4.23 and a beta of 0.29. National Storage Affiliates Trust has a 12-month low of $26.72 and a 12-month high of $35.76.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.59). The company had revenue of $101.34 million during the quarter, compared to the consensus estimate of $100.49 million. National Storage Affiliates Trust had a negative return on equity of 1.45% and a negative net margin of 4.87%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. On average, equities research analysts expect that National Storage Affiliates Trust will post 1.53 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System grew its stake in shares of National Storage Affiliates Trust by 30.6% in the 4th quarter. New York State Teachers Retirement System now owns 63,579 shares of the real estate investment trust’s stock valued at $2,138,000 after buying an additional 14,887 shares in the last quarter. Rothschild Investment Corp IL bought a new stake in shares of National Storage Affiliates Trust in the 4th quarter valued at approximately $276,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of National Storage Affiliates Trust by 1.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,948 shares of the real estate investment trust’s stock valued at $940,000 after buying an additional 318 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of National Storage Affiliates Trust by 55.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,794 shares of the real estate investment trust’s stock valued at $934,000 after buying an additional 9,898 shares in the last quarter. Finally, Sciencast Management LP bought a new stake in shares of National Storage Affiliates Trust in the 4th quarter valued at approximately $290,000. 92.91% of the stock is owned by institutional investors.

About National Storage Affiliates Trust

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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