National Storage (NSA) Given a $37.00 Price Target at DA Davidson

DA Davidson set a $37.00 price target on National Storage (NYSE:NSA) in a research report sent to investors on Thursday. The brokerage currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts have also recently weighed in on NSA. BMO Capital Markets initiated coverage on shares of National Storage in a research note on Friday, April 6th. They set a market perform rating and a $26.00 price objective for the company. TheStreet raised shares of National Storage from a d+ rating to a c rating in a research note on Monday, April 23rd. ValuEngine raised shares of National Storage from a hold rating to a buy rating in a research note on Thursday, May 3rd. Morgan Stanley raised their price objective on shares of National Storage from $26.00 to $27.00 and gave the stock an equal weight rating in a research note on Thursday, June 14th. Finally, SunTrust Banks raised their price objective on shares of National Storage from $25.00 to $28.00 and gave the stock a hold rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $27.80.

Shares of National Storage stock opened at $30.45 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.76 and a quick ratio of 0.76. National Storage has a 12-month low of $21.17 and a 12-month high of $32.28. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 2.82 and a beta of 0.59.

National Storage (NYSE:NSA) last issued its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.14. National Storage had a net margin of 4.55% and a return on equity of 1.24%. The business had revenue of $76.49 million during the quarter, compared to analysts’ expectations of $76.72 million. During the same period last year, the company posted $0.29 EPS. The company’s revenue was up 24.3% on a year-over-year basis. sell-side analysts predict that National Storage will post 1.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 15th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, June 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.81%. This is a positive change from National Storage’s previous quarterly dividend of $0.28. National Storage’s dividend payout ratio (DPR) is 93.55%.

A number of hedge funds and other institutional investors have recently made changes to their positions in NSA. BlackRock Inc. boosted its position in National Storage by 18.4% during the first quarter. BlackRock Inc. now owns 8,759,095 shares of the real estate investment trust’s stock worth $219,678,000 after acquiring an additional 1,362,708 shares during the last quarter. Millennium Management LLC acquired a new stake in National Storage during the fourth quarter worth approximately $18,007,000. American Assets Capital Advisers LLC boosted its position in National Storage by 77.9% during the first quarter. American Assets Capital Advisers LLC now owns 662,681 shares of the real estate investment trust’s stock worth $16,620,000 after acquiring an additional 290,200 shares during the last quarter. JPMorgan Chase & Co. boosted its position in National Storage by 252.0% during the first quarter. JPMorgan Chase & Co. now owns 395,124 shares of the real estate investment trust’s stock worth $9,910,000 after acquiring an additional 282,882 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in National Storage by 14.8% during the fourth quarter. Teachers Advisors LLC now owns 1,223,667 shares of the real estate investment trust’s stock worth $33,357,000 after acquiring an additional 157,374 shares during the last quarter. Hedge funds and other institutional investors own 95.32% of the company’s stock.

National Storage Company Profile

National Storage Affiliates Trust operates as a real estate investment trust. It focuses on the ownership, operation, and acquisition of self-storage properties located within the top 100 metropolitan statistical areas throughout the United States. The company was founded by Arlen D. Nordhagen in April 2013 and is headquartered in Greenwood Village, CO.

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Analyst Recommendations for National Storage (NYSE:NSA)

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