National Storage Affiliates Trust (NYSE:NSA) Coverage Initiated at Bank of America

Bank of America assumed coverage on shares of National Storage Affiliates Trust (NYSE:NSA) in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the real estate investment trust’s stock.

NSA has been the subject of several other reports. Citigroup lifted their target price on National Storage Affiliates Trust from $48.50 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, July 1st. Zacks Investment Research raised National Storage Affiliates Trust from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Wednesday, August 25th. Robert W. Baird started coverage on National Storage Affiliates Trust in a report on Friday, July 2nd. They set a “buy” rating and a $54.00 price target for the company. Truist lifted their price target on National Storage Affiliates Trust from $48.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, August 30th. Finally, Truist Securities lifted their price target on National Storage Affiliates Trust from $48.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, August 30th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $53.78.

Shares of NYSE NSA opened at $57.12 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.40. National Storage Affiliates Trust has a 12 month low of $31.82 and a 12 month high of $59.34. The stock has a 50 day moving average of $55.24 and a 200-day moving average of $48.20. The company has a market capitalization of $5.06 billion, a P/E ratio of 74.18 and a beta of 0.37.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results on Monday, August 2nd. The real estate investment trust reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.05). National Storage Affiliates Trust had a return on equity of 6.25% and a net margin of 16.73%. Analysts predict that National Storage Affiliates Trust will post 2.15 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in NSA. O Shaughnessy Asset Management LLC raised its holdings in shares of National Storage Affiliates Trust by 462.0% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 607 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 499 shares in the last quarter. FMR LLC acquired a new position in shares of National Storage Affiliates Trust during the 1st quarter worth $32,000. Harbor Investment Advisory LLC raised its holdings in shares of National Storage Affiliates Trust by 36.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 904 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 243 shares in the last quarter. Marshall Wace North America L.P. raised its holdings in shares of National Storage Affiliates Trust by 21.6% during the 1st quarter. Marshall Wace North America L.P. now owns 1,886 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 335 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC raised its holdings in shares of National Storage Affiliates Trust by 58.7% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 1,192 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 441 shares in the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

About National Storage Affiliates Trust

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 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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