Robert W. Baird Raises National Storage Affiliates Trust (NYSE:NSA) Price Target to $39.00

National Storage Affiliates Trust (NYSE:NSA) had its price objective lifted by Robert W. Baird from $37.00 to $39.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts have also commented on NSA. Evercore ISI increased their target price on shares of National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an underperform rating in a research note on Monday, July 15th. Wells Fargo & Company lifted their target price on National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an underweight rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $37.89.

National Storage Affiliates Trust Stock Performance

Shares of NYSE NSA traded up $0.68 during midday trading on Tuesday, hitting $42.80. 114,331 shares of the company’s stock were exchanged, compared to its average volume of 786,788. National Storage Affiliates Trust has a twelve month low of $27.86 and a twelve month high of $46.84. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $3.21 billion, a P/E ratio of 22.06 and a beta of 0.95. The stock’s 50 day moving average price is $41.47 and its 200-day moving average price is $38.49.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.47). The business had revenue of $190.50 million for the quarter, compared to analyst estimates of $186.37 million. National Storage Affiliates Trust had a net margin of 22.07% and a return on equity of 10.30%. National Storage Affiliates Trust’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. Equities research analysts anticipate that National Storage Affiliates Trust will post 2.49 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.24 annualized dividend and a yield of 5.23%. National Storage Affiliates Trust’s dividend payout ratio is 117.28%.

Insiders Place Their Bets

In other news, Director Chad Leroy Meisinger bought 18,405 shares of National Storage Affiliates Trust stock in a transaction dated Friday, June 7th. The shares were bought at an average price of $37.74 per share, for a total transaction of $694,604.70. Following the purchase, the director now owns 114,155 shares of the company’s stock, valued at $4,308,209.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NSA. Wasatch Advisors LP raised its holdings in National Storage Affiliates Trust by 20.3% during the 1st quarter. Wasatch Advisors LP now owns 6,563,468 shares of the real estate investment trust’s stock worth $257,025,000 after purchasing an additional 1,108,176 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of National Storage Affiliates Trust by 69.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,309,828 shares of the real estate investment trust’s stock valued at $95,789,000 after purchasing an additional 950,171 shares during the period. Jennison Associates LLC grew its position in shares of National Storage Affiliates Trust by 3.1% in the 4th quarter. Jennison Associates LLC now owns 1,353,607 shares of the real estate investment trust’s stock valued at $56,134,000 after purchasing an additional 41,193 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of National Storage Affiliates Trust by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,266,956 shares of the real estate investment trust’s stock valued at $52,541,000 after purchasing an additional 7,096 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of National Storage Affiliates Trust by 20.7% in the 4th quarter. Wellington Management Group LLP now owns 1,060,274 shares of the real estate investment trust’s stock valued at $43,970,000 after purchasing an additional 181,644 shares during the period. 99.97% of the stock is owned by institutional investors.

National Storage Affiliates Trust Company Profile

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.