Wells Fargo & Co Raises National Storage Affiliates Trust (NYSE:NSA) Price Target to $36.00

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National Storage Affiliates Trust (NYSE:NSA) had its price target lifted by Wells Fargo & Co from $32.00 to $36.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

NSA has been the topic of several other research reports. Stifel Nicolaus began coverage on National Storage Affiliates Trust in a research report on Monday, August 19th. They issued a buy rating and a $36.00 target price on the stock. BMO Capital Markets set a $26.00 target price on National Storage Affiliates Trust and gave the company a hold rating in a research report on Friday, August 2nd. Zacks Investment Research downgraded National Storage Affiliates Trust from a buy rating to a hold rating in a research report on Tuesday, July 30th. Finally, ValuEngine upgraded National Storage Affiliates Trust from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. National Storage Affiliates Trust has a consensus rating of Buy and an average price target of $32.29.

Shares of NSA stock opened at $33.35 on Wednesday. The company has a market capitalization of $1.98 billion, a P/E ratio of 24.17, a P/E/G ratio of 4.24 and a beta of 0.35. The business’s 50 day moving average is $30.62 and its two-hundred day moving average is $29.34. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.17. National Storage Affiliates Trust has a 12-month low of $24.44 and a 12-month high of $33.87.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.57). The business had revenue of $95.42 million for the quarter, compared to analysts’ expectations of $95.75 million. National Storage Affiliates Trust had a negative return on equity of 0.41% and a negative net margin of 1.41%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 EPS. On average, research analysts predict that National Storage Affiliates Trust will post 1.53 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NSA. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of National Storage Affiliates Trust by 12.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,630 shares of the real estate investment trust’s stock valued at $800,000 after purchasing an additional 3,071 shares during the last quarter. BlackRock Inc. increased its holdings in shares of National Storage Affiliates Trust by 2.0% in the first quarter. BlackRock Inc. now owns 10,656,928 shares of the real estate investment trust’s stock valued at $303,829,000 after purchasing an additional 206,357 shares during the last quarter. Anchor Capital Advisors LLC increased its holdings in shares of National Storage Affiliates Trust by 18.3% in the first quarter. Anchor Capital Advisors LLC now owns 130,445 shares of the real estate investment trust’s stock valued at $3,719,000 after purchasing an additional 20,225 shares during the last quarter. Rothschild & Co. Asset Management US Inc. increased its holdings in shares of National Storage Affiliates Trust by 7.5% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 335,702 shares of the real estate investment trust’s stock valued at $9,571,000 after purchasing an additional 23,560 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in shares of National Storage Affiliates Trust by 2.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 16,960 shares of the real estate investment trust’s stock valued at $491,000 after purchasing an additional 380 shares during the last quarter. Institutional investors and hedge funds own 89.27% of the company’s stock.

National Storage Affiliates Trust Company Profile

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. The Company currently holds ownership interests in and operates 709 self storage properties located in 35 states and Puerto Rico with approximately 44.9 million rentable square feet.

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