Trading Report: Today, National Storage Affiliates (NSA) Upgraded to “Buy” by Zacks Investment Research

Today, National Storage Affiliates (NSA) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of National Storage Affiliates (NYSE:NSA) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $22.00 price target on the real estate investment trust’s stock.

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. “

NSA has been the topic of several other reports. FBR & Co restated a marketperform rating and set a $22.00 price objective on shares of National Storage Affiliates in a research note on Wednesday, June 22nd. DA Davidson set a $26.00 price objective on National Storage Affiliates and gave the stock a buy rating in a research note on Thursday, September 15th. Robert W. Baird restated an outperform rating and set a $25.00 price objective (up from $24.00) on shares of National Storage Affiliates in a research note on Wednesday, July 6th. Finally, Jefferies Group reduced their price objective on National Storage Affiliates from $24.00 to $22.00 and set a hold rating on the stock in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $22.64.

Shares of National Storage Affiliates (NYSE:NSA) traded down 0.93% during midday trading on Wednesday, hitting $19.19. 184,692 shares of the company’s stock traded hands. The stock has a market cap of $445.42 million, a P/E ratio of 71.34 and a beta of 0.63. National Storage Affiliates has a 52 week low of $14.00 and a 52 week high of $22.86. The company has a 50 day moving average of $20.34 and a 200 day moving average of $20.79.

National Storage Affiliates (NYSE:NSA) last announced its quarterly earnings data on Monday, August 8th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. National Storage Affiliates had a return on equity of 3.46% and a net margin of 11.53%. The firm had revenue of $47.30 million for the quarter, compared to analysts’ expectations of $44.69 million. On average, equities analysts forecast that National Storage Affiliates will post $1.08 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Tuesday, September 13th. National Storage Affiliates’s dividend payout ratio is presently 338.47%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of National Storage Affiliates by 1,385.9% in the second quarter. Royal Bank of Canada now owns 743,392 shares of the real estate investment trust’s stock worth $15,479,000 after buying an additional 693,363 shares during the period. IFP Advisors Inc raised its position in shares of National Storage Affiliates by 146.5% in the second quarter. IFP Advisors Inc now owns 7,992 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 4,750 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of National Storage Affiliates by 30.1% in the second quarter. Public Employees Retirement System of Ohio now owns 42,894 shares of the real estate investment trust’s stock worth $893,000 after buying an additional 9,933 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of National Storage Affiliates by 10.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 155,177 shares of the real estate investment trust’s stock worth $3,231,000 after buying an additional 14,560 shares during the period. Finally, Stifel Financial Corp acquired a new position in shares of National Storage Affiliates during the second quarter worth approximately $729,000. 97.09% of the stock is currently owned by institutional investors.

National Storage Affiliates Company Profile

National Storage Affiliates Trust is an integrated, self-administered and self-managed real estate investment trust. The Company is focused on the ownership, operation and acquisition of self-storage properties located within various metropolitan statistical areas (MSAs) across the United States. The Company’s segment consists of investments in self-storage properties located in the United States.

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