National Storage Affiliates Trust (NYSE:NSA) Sets New 1-Year High – What’s Next?

National Storage Affiliates Trust (NYSE:NSA) hit a new 52-week high during trading on Tuesday . The stock traded as high as $44.41 and last traded at $44.6470, with a volume of 16497 shares changing hands. The stock had previously closed at $43.62.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NSA. Evercore raised National Storage Affiliates Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Wall Street Zen cut National Storage Affiliates Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Citigroup boosted their price target on National Storage Affiliates Trust from $33.50 to $43.62 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. UBS Group boosted their price target on National Storage Affiliates Trust from $29.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Finally, BNP Paribas Exane raised National Storage Affiliates Trust from an “underperform” rating to a “neutral” rating and set a $41.00 price target for the company in a research note on Monday, March 16th. Thirteen research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, National Storage Affiliates Trust currently has a consensus rating of “Reduce” and a consensus price target of $35.97.

National Storage Affiliates Trust Stock Up 3.0%

The stock has a market cap of $3.47 billion, a P/E ratio of 59.85 and a beta of 1.05. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 3.02. The business has a 50-day simple moving average of $41.87 and a 200-day simple moving average of $35.44.

National Storage Affiliates Trust (NYSE:NSA) last announced its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.38). The company had revenue of $185.40 million for the quarter, compared to the consensus estimate of $181.69 million. National Storage Affiliates Trust had a return on equity of 6.46% and a net margin of 10.48%.The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. Analysts expect that National Storage Affiliates Trust will post 2.22 EPS for the current year.

National Storage Affiliates Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.28 dividend on an annualized basis and a yield of 5.1%. National Storage Affiliates Trust’s dividend payout ratio is presently 304.00%.

Institutional Investors Weigh In On National Storage Affiliates Trust

A number of large investors have recently added to or reduced their stakes in NSA. Cohen & Steers Inc. lifted its holdings in shares of National Storage Affiliates Trust by 145.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,161,651 shares of the real estate investment trust’s stock worth $60,980,000 after buying an additional 1,281,337 shares during the last quarter. Rush Island Management LP acquired a new position in shares of National Storage Affiliates Trust during the fourth quarter worth approximately $33,788,000. Hudson Bay Capital Management LP acquired a new position in shares of National Storage Affiliates Trust during the third quarter worth approximately $33,082,000. Freestone Grove Partners LP lifted its holdings in shares of National Storage Affiliates Trust by 7,053.7% during the fourth quarter. Freestone Grove Partners LP now owns 1,000,091 shares of the real estate investment trust’s stock worth $28,213,000 after buying an additional 986,111 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of National Storage Affiliates Trust by 723.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,067,548 shares of the real estate investment trust’s stock worth $32,261,000 after buying an additional 937,939 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.

The company’s core business involves providing flexible storage solutions to both individual and commercial customers.