Truist Financial Cuts National Storage Affiliates Trust (NYSE:NSA) Price Target to $57.00

National Storage Affiliates Trust (NYSE:NSAGet Rating) had its price target dropped by research analysts at Truist Financial from $61.00 to $57.00 in a note issued to investors on Wednesday, The Fly reports. Truist Financial’s price objective suggests a potential upside of 8.67% from the company’s previous close.

Several other research firms have also recently commented on NSA. Morgan Stanley lowered their price target on National Storage Affiliates Trust from $60.00 to $52.00 in a report on Wednesday, May 25th. Zacks Investment Research cut National Storage Affiliates Trust from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, StockNews.com started coverage on National Storage Affiliates Trust in a report on Thursday, March 31st. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.38.

National Storage Affiliates Trust stock opened at $52.45 on Wednesday. The stock has a market cap of $4.80 billion, a PE ratio of 52.45, a P/E/G ratio of 2.09 and a beta of 0.60. The stock has a 50-day moving average price of $57.93 and a 200 day moving average price of $60.88. National Storage Affiliates Trust has a 52 week low of $45.87 and a 52 week high of $70.04. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.31.

National Storage Affiliates Trust (NYSE:NSAGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.43). The company had revenue of $187.20 million for the quarter, compared to analysts’ expectations of $183.80 million. National Storage Affiliates Trust had a return on equity of 5.45% and a net margin of 16.87%. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. On average, equities analysts predict that National Storage Affiliates Trust will post 2.84 EPS for the current year.

In other news, Chairman Arlen Dale Nordhagen sold 170,000 shares of the stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $60.71, for a total value of $10,320,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.80% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. boosted its stake in shares of National Storage Affiliates Trust by 2.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,371 shares of the real estate investment trust’s stock valued at $510,000 after purchasing an additional 171 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of National Storage Affiliates Trust by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 10,681 shares of the real estate investment trust’s stock valued at $739,000 after purchasing an additional 192 shares during the period. Comerica Bank boosted its stake in shares of National Storage Affiliates Trust by 0.5% in the fourth quarter. Comerica Bank now owns 37,105 shares of the real estate investment trust’s stock valued at $2,248,000 after purchasing an additional 200 shares during the period. Meritage Portfolio Management boosted its stake in shares of National Storage Affiliates Trust by 5.2% in the fourth quarter. Meritage Portfolio Management now owns 4,118 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 204 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of National Storage Affiliates Trust by 5.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,045 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 83.50% of the company’s stock.

About National Storage Affiliates Trust (Get Rating)

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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