National Storage Affiliates Trust (NYSE:NSA) Rating Increased to Equal Weight at Morgan Stanley

National Storage Affiliates Trust (NYSE:NSA) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $32.00 price target on the real estate investment trust’s stock, up from their previous price target of $30.00. Morgan Stanley’s target price points to a potential upside of 8.05% from the stock’s current price.

NSA has been the topic of several other reports. Evercore ISI lifted their price target on shares of National Storage Affiliates Trust from $31.00 to $32.00 and gave the company an “underperform” rating in a report on Monday, September 15th. Zacks Research lowered shares of National Storage Affiliates Trust from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Barclays lowered their price target on shares of National Storage Affiliates Trust from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, August 8th. Truist Financial dropped their price target on National Storage Affiliates Trust from $37.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, August 25th. Finally, UBS Group reduced their price objective on National Storage Affiliates Trust from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 16th. Nine investment analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $33.27.

National Storage Affiliates Trust Price Performance

Shares of NSA stock opened at $29.62 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 2.74. National Storage Affiliates Trust has a twelve month low of $28.02 and a twelve month high of $43.88. The company has a market cap of $2.28 billion, a P/E ratio of 48.55 and a beta of 1.19. The business has a fifty day simple moving average of $30.19 and a 200 day simple moving average of $31.41.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $188.70 million for the quarter, compared to analysts’ expectations of $184.04 million. National Storage Affiliates Trust had a return on equity of 5.09% and a net margin of 8.94%.The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. On average, sell-side analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UniSuper Management Pty Ltd grew its position in shares of National Storage Affiliates Trust by 1.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 19,700 shares of the real estate investment trust’s stock valued at $776,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of National Storage Affiliates Trust by 21.4% in the second quarter. GAMMA Investing LLC now owns 1,748 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 308 shares during the period. UMB Bank n.a. boosted its holdings in National Storage Affiliates Trust by 71.9% in the second quarter. UMB Bank n.a. now owns 906 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 379 shares during the last quarter. Peak Financial Advisors LLC boosted its holdings in National Storage Affiliates Trust by 3.0% in the third quarter. Peak Financial Advisors LLC now owns 13,272 shares of the real estate investment trust’s stock valued at $401,000 after acquiring an additional 382 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in National Storage Affiliates Trust by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 66,648 shares of the real estate investment trust’s stock valued at $2,132,000 after purchasing an additional 392 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

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.