Barclays Has Lowered Expectations for National Storage Affiliates Trust (NYSE:NSA) Stock Price

National Storage Affiliates Trust (NYSE:NSA) had its target price lowered by Barclays from $42.00 to $41.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 10.07% from the stock’s previous close.

A number of other brokerages also recently commented on NSA. Deutsche Bank Aktiengesellschaft upgraded shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $38.00 in a research report on Friday, January 10th. Wells Fargo & Company dropped their target price on National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, National Storage Affiliates Trust presently has a consensus rating of “Hold” and a consensus price target of $42.44.

National Storage Affiliates Trust Stock Down 1.5 %

NYSE NSA traded down $0.55 on Wednesday, hitting $37.25. 95,672 shares of the stock were exchanged, compared to its average volume of 627,571. The company has a market cap of $2.85 billion, a PE ratio of 21.73 and a beta of 1.07. The company has a 50-day moving average price of $37.54 and a 200-day moving average price of $41.77. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35. National Storage Affiliates Trust has a fifty-two week low of $34.59 and a fifty-two week high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last posted its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.41. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The business had revenue of $190.12 million during the quarter, compared to the consensus estimate of $185.37 million. Sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

Insider Activity at National Storage Affiliates Trust

In other National Storage Affiliates Trust news, Director Michael J. Schall acquired 4,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $38.54 per share, with a total value of $154,160.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at approximately $231,240. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 12.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On National Storage Affiliates Trust

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of National Storage Affiliates Trust by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 9,759,416 shares of the real estate investment trust’s stock worth $369,979,000 after purchasing an additional 80,923 shares during the last quarter. Wasatch Advisors LP grew its stake in National Storage Affiliates Trust by 8.2% in the 4th quarter. Wasatch Advisors LP now owns 6,679,180 shares of the real estate investment trust’s stock worth $253,208,000 after acquiring an additional 506,398 shares during the period. Thrivent Financial for Lutherans raised its holdings in National Storage Affiliates Trust by 0.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,548,145 shares of the real estate investment trust’s stock valued at $96,600,000 after acquiring an additional 10,783 shares during the last quarter. Capital World Investors lifted its stake in shares of National Storage Affiliates Trust by 6.2% during the 4th quarter. Capital World Investors now owns 1,941,558 shares of the real estate investment trust’s stock worth $73,604,000 after purchasing an additional 113,973 shares during the period. Finally, FMR LLC boosted its holdings in shares of National Storage Affiliates Trust by 27.5% during the third quarter. FMR LLC now owns 1,664,182 shares of the real estate investment trust’s stock worth $80,214,000 after purchasing an additional 358,449 shares during the last quarter. 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.