Zacks Investment Research Upgrades National Storage Affiliates Trust (NYSE:NSA) to Buy

Zacks Investment Research upgraded shares of National Storage Affiliates Trust (NYSE:NSA) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $34.00 price objective 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. “

Separately, ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd.

NYSE:NSA opened at $29.02 on Thursday. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 3.74 and a beta of 0.35. National Storage Affiliates Trust has a 1 year low of $24.44 and a 1 year high of $30.49. The company has a 50 day moving average of $29.55. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.52 and a quick ratio of 0.52.

National Storage Affiliates Trust (NYSE:NSA) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.28). The company had revenue of $90.57 million during the quarter, compared to the consensus estimate of $93.25 million. National Storage Affiliates Trust had a net margin of 1.71% and a return on equity of 0.49%. National Storage Affiliates Trust’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. On average, analysts expect that National Storage Affiliates Trust will post 1.52 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.41%. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, June 13th. National Storage Affiliates Trust’s dividend payout ratio is presently 92.75%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. raised its holdings in shares of National Storage Affiliates Trust by 21.6% in the first quarter. Marshall Wace North America L.P. now owns 1,886 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 335 shares during the period. Arizona State Retirement System raised its holdings in shares of National Storage Affiliates Trust by 0.4% in the first quarter. Arizona State Retirement System now owns 87,467 shares of the real estate investment trust’s stock worth $2,494,000 after buying an additional 348 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of National Storage Affiliates Trust by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 21,909 shares of the real estate investment trust’s stock worth $625,000 after buying an additional 396 shares during the period. Creative Planning increased its holdings in National Storage Affiliates Trust by 4.0% during the 1st quarter. Creative Planning now owns 14,606 shares of the real estate investment trust’s stock worth $416,000 after purchasing an additional 556 shares during the period. Finally, Mason Street Advisors LLC increased its holdings in National Storage Affiliates Trust by 3.7% during the 1st quarter. Mason Street Advisors LLC now owns 18,210 shares of the real estate investment trust’s stock worth $519,000 after purchasing an additional 642 shares during the period. Hedge funds and other institutional investors own 91.80% of the company’s stock.

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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