National Storage Affiliates Trust (NYSE:NSA) Price Target Lowered to $32.00 at Truist Financial

National Storage Affiliates Trust (NYSE:NSA) had its price target cut by Truist Financial from $37.00 to $32.00 in a research note released on Monday,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on the company. Robert W. Baird cut their price target on National Storage Affiliates Trust from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, August 12th. Wells Fargo & Company dropped their price objective on National Storage Affiliates Trust from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen raised National Storage Affiliates Trust from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Morgan Stanley cut shares of National Storage Affiliates Trust from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective on the stock. in a research report on Tuesday, May 27th. Finally, Barclays decreased their price target on shares of National Storage Affiliates Trust from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $37.13.

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA opened at $31.7360 on Monday. National Storage Affiliates Trust has a 12 month low of $28.02 and a 12 month high of $49.44. The business has a 50-day moving average of $31.47 and a two-hundred day moving average of $34.65. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $2.44 billion, a PE ratio of 51.19 and a beta of 1.10.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). National Storage Affiliates Trust had a net margin of 8.92% and a return on equity of 4.91%. The company had revenue of $188.84 million during the quarter, compared to analyst estimates of $185.91 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The firm’s revenue for the quarter was down .8% on a year-over-year basis. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. As a group, research analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 annualized dividend and a yield of 7.2%. National Storage Affiliates Trust’s payout ratio is currently 367.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NSA. Balyasny Asset Management L.P. raised its holdings in shares of National Storage Affiliates Trust by 172.0% in the second quarter. Balyasny Asset Management L.P. now owns 3,146,936 shares of the real estate investment trust’s stock valued at $100,670,000 after buying an additional 1,989,965 shares during the last quarter. Long Pond Capital LP bought a new position in National Storage Affiliates Trust during the second quarter worth about $79,936,000. Prudential Financial Inc. boosted its stake in National Storage Affiliates Trust by 50.0% during the 2nd quarter. Prudential Financial Inc. now owns 2,089,543 shares of the real estate investment trust’s stock worth $66,844,000 after acquiring an additional 696,067 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of National Storage Affiliates Trust by 38.5% in the 2nd quarter. Jennison Associates LLC now owns 1,485,145 shares of the real estate investment trust’s stock valued at $47,510,000 after buying an additional 413,173 shares during the period. Finally, Geode Capital Management LLC grew its stake in National Storage Affiliates Trust by 0.9% in the second quarter. Geode Capital Management LLC now owns 1,435,046 shares of the real estate investment trust’s stock valued at $45,912,000 after acquiring an additional 12,737 shares during the period. Institutional investors own 99.97% of the company’s stock.

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.