National Storage Affiliates Trust (NYSE:NSA) Rating Increased to Buy at Zacks Investment Research

National Storage Affiliates Trust (NYSE:NSA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage currently has a $38.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.57% from the company’s previous close.

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 equities analysts have also recently issued research reports about the stock. ValuEngine raised shares of National Storage Affiliates Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Stifel Nicolaus initiated coverage on shares of National Storage Affiliates Trust in a research report on Monday, August 19th. They set a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Co lifted their target price on shares of National Storage Affiliates Trust from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Robert W. Baird set a $37.00 target price on shares of National Storage Affiliates Trust and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, BMO Capital Markets set a $26.00 target price on shares of National Storage Affiliates Trust and gave the stock a “hold” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. National Storage Affiliates Trust currently has a consensus rating of “Buy” and a consensus target price of $32.86.

National Storage Affiliates Trust stock opened at $33.46 on Thursday. National Storage Affiliates Trust has a 52 week low of $24.44 and a 52 week high of $34.15. The company’s 50 day moving average price is $31.20 and its two-hundred day moving average price is $29.51. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.17. The stock has a market cap of $1.98 billion, a P/E ratio of 24.25, a P/E/G ratio of 4.30 and a beta of 0.35.

National Storage Affiliates Trust (NYSE:NSA) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ 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 period in the prior year, the business earned $0.34 EPS. National Storage Affiliates Trust’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, equities analysts anticipate that National Storage Affiliates Trust will post 1.53 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new stake in shares of National Storage Affiliates Trust in the 2nd quarter worth approximately $166,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of National Storage Affiliates Trust by 12.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,630 shares of the real estate investment trust’s stock worth $800,000 after purchasing an additional 3,071 shares during the period. BlackRock Inc. raised its holdings in shares of National Storage Affiliates Trust by 2.0% in the 1st quarter. BlackRock Inc. now owns 10,656,928 shares of the real estate investment trust’s stock worth $303,829,000 after purchasing an additional 206,357 shares during the period. Wasatch Advisors Inc. raised its holdings in shares of National Storage Affiliates Trust by 18.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 535,823 shares of the real estate investment trust’s stock worth $15,507,000 after purchasing an additional 83,480 shares during the period. Finally, Menta Capital LLC bought a new stake in shares of National Storage Affiliates Trust in the 2nd quarter worth approximately $981,000. 89.27% of the stock is currently owned by institutional investors.

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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