National Storage Affiliates Trust (NYSE:NSA) Cut to Hold at Zacks Investment Research

National Storage Affiliates Trust (NYSE:NSA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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 issued reports about the stock. Morgan Stanley increased their price objective on shares of National Storage Affiliates Trust from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. ValuEngine lowered shares of National Storage Affiliates Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Wells Fargo & Co increased their price objective on shares of National Storage Affiliates Trust from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. BMO Capital Markets set a $26.00 price objective on shares of National Storage Affiliates Trust and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus initiated coverage on shares of National Storage Affiliates Trust in a research note on Monday, August 19th. They issued a “buy” rating and a $36.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. National Storage Affiliates Trust currently has a consensus rating of “Hold” and an average target price of $34.00.

Shares of NSA opened at $34.32 on Wednesday. The firm has a market capitalization of $2.02 billion, a PE ratio of 24.87, a PEG ratio of 4.37 and a beta of 0.32. The company’s 50-day moving average is $33.52 and its 200-day moving average is $30.70. National Storage Affiliates Trust has a fifty-two week low of $25.11 and a fifty-two week high of $34.80. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.37 and a quick ratio of 0.37.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.57). The company had revenue of $95.42 million during the quarter, compared to the consensus estimate of $95.75 million. National Storage Affiliates Trust had a negative net margin of 1.41% and a negative return on equity of 0.41%. National Storage Affiliates Trust’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. Analysts predict that National Storage Affiliates Trust will post 1.53 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. grew its stake 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 valued at $54,000 after acquiring an additional 335 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in shares of National Storage Affiliates Trust by 2.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,960 shares of the real estate investment trust’s stock valued at $491,000 after acquiring an additional 380 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in National Storage Affiliates Trust by 1.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 22,309 shares of the real estate investment trust’s stock worth $646,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System grew its stake in National Storage Affiliates Trust by 0.9% during the second quarter. Arizona State Retirement System now owns 88,238 shares of the real estate investment trust’s stock worth $2,554,000 after buying an additional 771 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in National Storage Affiliates Trust by 8.3% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,962 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 841 shares in the last quarter. Institutional investors and hedge funds own 92.92% 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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