Wells Fargo & Company Boosts National Storage Affiliates Trust (NYSE:NSA) Price Target to $42.00

National Storage Affiliates Trust (NYSE:NSA - Free Report) had its target price lifted by Wells Fargo & Company from $40.00 to $42.00 in a research note released on Monday morning, Benzinga reports. They currently have an underweight rating on the real estate investment trust's stock.

Other equities analysts have also recently issued reports about the company. Truist Financial lifted their price objective on National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a "hold" rating in a report on Friday, August 16th. Citigroup upped their price objective on National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Jefferies Financial Group increased their target price on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. KeyCorp lowered shares of National Storage Affiliates Trust from an "overweight" rating to a "sector weight" rating in a report on Monday, September 9th. Finally, Barclays raised their price objective on National Storage Affiliates Trust from $38.00 to $45.00 and gave the company an "equal weight" rating in a report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $42.72.

National Storage Affiliates Trust Stock Performance

National Storage Affiliates Trust stock traded down $1.91 during mid-day trading on Monday, hitting $43.04. 381,633 shares of the company's stock traded hands, compared to its average volume of 739,333. National Storage Affiliates Trust has a fifty-two week low of $27.86 and a fifty-two week high of $49.44. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 22.99 and a beta of 0.98. The firm has a 50 day simple moving average of $45.93 and a two-hundred day simple moving average of $41.65. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.72 and a quick ratio of 0.72.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.47). National Storage Affiliates Trust had a net margin of 21.23% and a return on equity of 10.43%. The firm had revenue of $190.50 million during the quarter, compared to analyst estimates of $186.37 million. During the same period in the prior year, the company earned $0.68 earnings per share. The business's quarterly revenue was down 11.6% compared to the same quarter last year. On average, research analysts expect that National Storage Affiliates Trust will post 2.41 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.56 per share. The ex-dividend date was Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a yield of 5.20%. National Storage Affiliates Trust's dividend payout ratio (DPR) is currently 117.28%.

Institutional Investors Weigh In On National Storage Affiliates Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of National Storage Affiliates Trust by 515.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 52,177 shares of the real estate investment trust's stock worth $2,515,000 after buying an additional 43,698 shares in the last quarter. Raymond James & Associates lifted its holdings in National Storage Affiliates Trust by 9.9% during the third quarter. Raymond James & Associates now owns 299,508 shares of the real estate investment trust's stock worth $14,436,000 after acquiring an additional 26,878 shares during the period. Creative Planning grew its stake in National Storage Affiliates Trust by 27.3% in the 3rd quarter. Creative Planning now owns 10,501 shares of the real estate investment trust's stock valued at $506,000 after purchasing an additional 2,250 shares during the period. Ritholtz Wealth Management purchased a new stake in shares of National Storage Affiliates Trust during the 3rd quarter valued at $696,000. Finally, GAMMA Investing LLC increased its position in shares of National Storage Affiliates Trust by 174.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 927 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Company Profile

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.