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

National Storage Affiliates Trust (NYSE:NSA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage presently has a $54.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 9.09% from the company’s previous close.

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. “

A number of other research analysts also recently weighed in on the stock. Morgan Stanley increased their price objective on shares of National Storage Affiliates Trust from $39.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 26th. BMO Capital Markets reiterated a “buy” rating on shares of National Storage Affiliates Trust in a research report on Tuesday, March 9th. Truist Securities increased their price target on shares of National Storage Affiliates Trust from $36.00 to $40.00 in a research report on Monday, March 22nd. Wells Fargo & Company increased their price target on shares of National Storage Affiliates Trust from $45.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, May 27th. Finally, Truist increased their price target on shares of National Storage Affiliates Trust from $36.00 to $40.00 in a research report on Monday, March 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $45.14.

Shares of NYSE NSA opened at $49.50 on Wednesday. The business has a 50 day moving average price of $44.52. The company has a market capitalization of $3.79 billion, a P/E ratio of 79.84 and a beta of 0.36. National Storage Affiliates Trust has a 52-week low of $26.71 and a 52-week high of $49.50. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.42.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results on Monday, May 3rd. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.26). The firm had revenue of $122.99 million during the quarter, compared to the consensus estimate of $118.50 million. National Storage Affiliates Trust had a return on equity of 5.16% and a net margin of 13.93%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 EPS. As a group, equities research analysts forecast that National Storage Affiliates Trust will post 1.96 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. B&I Capital AG purchased a new position in National Storage Affiliates Trust during the fourth quarter valued at $12,426,000. GWM Advisors LLC grew its stake in shares of National Storage Affiliates Trust by 8.3% in the 1st quarter. GWM Advisors LLC now owns 40,058 shares of the real estate investment trust’s stock worth $1,600,000 after buying an additional 3,082 shares in the last quarter. Citigroup Inc. grew its stake in shares of National Storage Affiliates Trust by 15.7% in the 4th quarter. Citigroup Inc. now owns 119,358 shares of the real estate investment trust’s stock worth $4,300,000 after buying an additional 16,198 shares in the last quarter. Northern Trust Corp grew its stake in shares of National Storage Affiliates Trust by 13.8% in the 4th quarter. Northern Trust Corp now owns 1,219,662 shares of the real estate investment trust’s stock worth $43,946,000 after buying an additional 147,438 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of National Storage Affiliates Trust by 2.2% in the 1st quarter. State of Alaska Department of Revenue now owns 67,685 shares of the real estate investment trust’s stock worth $2,701,000 after buying an additional 1,450 shares in the last quarter. 81.67% of the stock is owned by institutional investors.

About National Storage Affiliates Trust

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. As of September 30, 2020, the Company held ownership interests in and operated 788 self storage properties located in 35 states and Puerto Rico with approximately 49.5 million rentable square feet.

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