National Storage Affiliates Trust (NYSE:NSA) Cut to “Sector Weight” at KeyCorp

KeyCorp downgraded shares of National Storage Affiliates Trust (NYSE:NSA) from an overweight rating to a sector weight rating in a research report report published on Monday, MarketBeat Ratings reports. KeyCorp also issued estimates for National Storage Affiliates Trust’s Q3 2024 earnings at $0.60 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.40 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $2.49 EPS.

A number of other brokerages also recently commented on NSA. Citigroup boosted their price objective on National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a neutral rating in a research report on Friday, August 30th. Barclays boosted their price objective on National Storage Affiliates Trust from $38.00 to $45.00 and gave the stock an equal weight rating in a research report on Thursday, August 22nd. Wells Fargo & Company boosted their price objective on National Storage Affiliates Trust from $36.00 to $40.00 and gave the stock an underweight rating in a research report on Friday, July 26th. Truist Financial upped their price target on National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a hold rating in a report on Friday, August 16th. Finally, Evercore ISI upped their price target on National Storage Affiliates Trust from $38.00 to $40.00 and gave the company an underperform rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $39.94.

National Storage Affiliates Trust Stock Performance

NYSE NSA opened at $47.69 on Monday. The company has a market cap of $3.58 billion, a P/E ratio of 24.97 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a 50-day moving average of $43.93 and a two-hundred day moving average of $39.85. National Storage Affiliates Trust has a 1-year low of $27.86 and a 1-year high of $47.93.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings data 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). National Storage Affiliates Trust had a return on equity of 10.43% and a net margin of 21.23%. The company had revenue of $190.50 million for the quarter, compared to analyst estimates of $186.37 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. As a group, analysts anticipate that National Storage Affiliates Trust will post 2.39 EPS for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio is currently 117.28%.

Institutional Investors Weigh In On National Storage Affiliates Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NSA. Northwestern Mutual Wealth Management Co. purchased a new stake in National Storage Affiliates Trust in the second quarter valued at approximately $33,000. Ashton Thomas Private Wealth LLC purchased a new stake in National Storage Affiliates Trust in the second quarter valued at approximately $39,000. Rothschild Investment LLC purchased a new stake in National Storage Affiliates Trust in the second quarter valued at approximately $59,000. Signaturefd LLC raised its stake in shares of National Storage Affiliates Trust by 48.1% during the second quarter. Signaturefd LLC now owns 2,035 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 661 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of National Storage Affiliates Trust during the first quarter worth approximately $113,000. 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.