Wolfe Research Begins Coverage on National Storage Affiliates Trust (NYSE:NSA)

Equities research analysts at Wolfe Research began coverage on shares of National Storage Affiliates Trust (NYSE:NSAGet Rating) in a report issued on Tuesday, The Fly reports. The firm set a “peer perform” rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on the company. UBS Group assumed coverage on National Storage Affiliates Trust in a research note on Monday, October 17th. They set a “neutral” rating and a $43.00 price target on the stock. StockNews.com lowered shares of National Storage Affiliates Trust from a “hold” rating to a “sell” rating in a report on Saturday, December 3rd. Stifel Nicolaus dropped their price objective on shares of National Storage Affiliates Trust from $73.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, October 24th. Morgan Stanley reduced their price objective on shares of National Storage Affiliates Trust from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 14th. Finally, BMO Capital Markets cut National Storage Affiliates Trust from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $48.00 to $42.00 in a research report on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, National Storage Affiliates Trust currently has an average rating of “Hold” and an average target price of $47.89.

National Storage Affiliates Trust Stock Down 1.8 %

Shares of NYSE NSA opened at $37.87 on Tuesday. The stock has a 50 day moving average price of $37.90 and a 200 day moving average price of $44.32. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 1.81 and a beta of 0.67. National Storage Affiliates Trust has a 52-week low of $34.90 and a 52-week high of $67.44. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.40 and a current ratio of 0.40.

Insider Transactions at National Storage Affiliates Trust

In related news, Chairman Arlen Dale Nordhagen bought 53,000 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was bought at an average cost of $37.88 per share, for a total transaction of $2,007,640.00. Following the purchase, the chairman now directly owns 4,064,851 shares of the company’s stock, valued at $153,976,555.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Arlen Dale Nordhagen bought 53,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were purchased at an average cost of $37.88 per share, with a total value of $2,007,640.00. Following the transaction, the chairman now directly owns 4,064,851 shares in the company, valued at $153,976,555.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Chad Leroy Meisinger bought 30,000 shares of National Storage Affiliates Trust stock in a transaction that occurred on Monday, December 12th. The stock was purchased at an average price of $38.61 per share, with a total value of $1,158,300.00. Following the purchase, the director now directly owns 70,750 shares in the company, valued at $2,731,657.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 120,752 shares of company stock worth $4,572,615. Insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On National Storage Affiliates Trust

Several hedge funds and other institutional investors have recently bought and sold shares of NSA. Raymond James Financial Services Advisors Inc. increased its stake in shares of National Storage Affiliates Trust by 14.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,869 shares of the real estate investment trust’s stock worth $368,000 after acquiring an additional 746 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in National Storage Affiliates Trust by 5.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,045 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 205 shares during the period. AlphaCrest Capital Management LLC purchased a new position in shares of National Storage Affiliates Trust during the 1st quarter valued at about $227,000. Bank of Montreal Can raised its stake in shares of National Storage Affiliates Trust by 64.4% during the 1st quarter. Bank of Montreal Can now owns 36,028 shares of the real estate investment trust’s stock valued at $2,298,000 after buying an additional 14,107 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of National Storage Affiliates Trust by 2.7% in the 1st quarter. Rhumbline Advisers now owns 236,485 shares of the real estate investment trust’s stock valued at $14,842,000 after buying an additional 6,140 shares during the period. Institutional investors and hedge funds own 85.26% of the company’s stock.

About National Storage Affiliates Trust

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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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