National Storage Affiliates Trust (NYSE:NSA) PT Raised to $39.00 at Robert W. Baird

National Storage Affiliates Trust (NYSE:NSA) had its price objective lifted by investment analysts at Robert W. Baird from $37.00 to $39.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Robert W. Baird’s target price would indicate a potential downside of 7.23% from the company’s previous close.

A number of other brokerages have also issued reports on NSA. Evercore ISI upped their price target on shares of National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an “underperform” rating in a research note on Monday, July 15th. Wells Fargo & Company boosted their price objective on shares of National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an “underweight” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.60.

National Storage Affiliates Trust Stock Performance

Shares of NSA opened at $42.04 on Tuesday. National Storage Affiliates Trust has a 12 month low of $27.86 and a 12 month high of $46.84. The stock has a fifty day moving average price of $41.47 and a 200-day moving average price of $38.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.05. The firm has a market cap of $3.15 billion, a PE ratio of 22.01 and a beta of 0.95.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.47). National Storage Affiliates Trust had a return on equity of 10.30% and a net margin of 22.07%. The business 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 business posted $0.68 EPS. National Storage Affiliates Trust’s revenue was down 11.6% compared to the same quarter last year. Equities research analysts predict that National Storage Affiliates Trust will post 2.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Chad Leroy Meisinger bought 18,405 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average cost of $37.74 per share, for a total transaction of $694,604.70. Following the purchase, the director now directly owns 114,155 shares in the company, valued at approximately $4,308,209.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 13.00% of the company’s stock.

Hedge Funds Weigh In On National Storage Affiliates Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Wasatch Advisors LP grew its holdings in National Storage Affiliates Trust by 20.3% in the first quarter. Wasatch Advisors LP now owns 6,563,468 shares of the real estate investment trust’s stock valued at $257,025,000 after purchasing an additional 1,108,176 shares during the period. Balyasny Asset Management L.P. grew its stake in National Storage Affiliates Trust by 69.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,309,828 shares of the real estate investment trust’s stock valued at $95,789,000 after acquiring an additional 950,171 shares during the period. Jennison Associates LLC increased its holdings in National Storage Affiliates Trust by 3.1% in the 4th quarter. Jennison Associates LLC now owns 1,353,607 shares of the real estate investment trust’s stock worth $56,134,000 after acquiring an additional 41,193 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in National Storage Affiliates Trust by 0.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,266,956 shares of the real estate investment trust’s stock worth $52,541,000 after acquiring an additional 7,096 shares during the period. Finally, Wellington Management Group LLP raised its position in National Storage Affiliates Trust by 20.7% during the fourth quarter. Wellington Management Group LLP now owns 1,060,274 shares of the real estate investment trust’s stock worth $43,970,000 after acquiring an additional 181,644 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

About National Storage Affiliates Trust

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.