Wells Fargo & Company Has Lowered Expectations for National Storage Affiliates Trust (NYSE:NSA) Stock Price

National Storage Affiliates Trust (NYSE:NSA) had its target price lowered by equities researchers at Wells Fargo & Company from $40.00 to $38.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 0.85% from the company’s current price.

Several other equities analysts have also issued reports on NSA. Barclays dropped their price target on National Storage Affiliates Trust from $46.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised National Storage Affiliates Trust from a “sell” rating to a “hold” rating and dropped their price target for the company from $40.00 to $38.00 in a research note on Friday, January 10th. Finally, Robert W. Baird boosted their price target on National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, National Storage Affiliates Trust has a consensus rating of “Hold” and an average target price of $42.56.

National Storage Affiliates Trust Price Performance

Shares of NSA opened at $37.68 on Friday. National Storage Affiliates Trust has a 52-week low of $34.50 and a 52-week high of $49.44. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. The business’s 50 day moving average price is $37.49 and its two-hundred day moving average price is $42.17. The firm has a market cap of $2.87 billion, a PE ratio of 22.03 and a beta of 1.03.

Hedge Funds Weigh In On National Storage Affiliates Trust

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in National Storage Affiliates Trust by 515.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 52,177 shares of the real estate investment trust’s stock worth $2,515,000 after buying an additional 43,698 shares in the last quarter. Hancock Whitney Corp grew its holdings in National Storage Affiliates Trust by 1,760.2% during the third quarter. Hancock Whitney Corp now owns 208,195 shares of the real estate investment trust’s stock worth $10,035,000 after buying an additional 197,003 shares in the last quarter. Cerity Partners LLC grew its holdings in National Storage Affiliates Trust by 35.7% during the third quarter. Cerity Partners LLC now owns 47,784 shares of the real estate investment trust’s stock worth $2,303,000 after buying an additional 12,583 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in National Storage Affiliates Trust by 385.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 421,161 shares of the real estate investment trust’s stock worth $20,300,000 after buying an additional 334,445 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in National Storage Affiliates Trust by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 319,277 shares of the real estate investment trust’s stock worth $15,389,000 after buying an additional 42,508 shares in the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

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.