National Storage Affiliates Trust (NYSE:NSA) Sets New 52-Week High at $49.44

National Storage Affiliates Trust (NYSE:NSA) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $49.44 and last traded at $49.07, with a volume of 11013 shares trading hands. The stock had previously closed at $48.57.

Analyst Ratings Changes

Several research firms have recently weighed in on NSA. KeyCorp downgraded shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Citigroup increased their target price 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. Robert W. Baird lifted their price target on National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Truist Financial increased their price objective on National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, 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 report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, National Storage Affiliates Trust has an average rating of “Hold” and a consensus price target of $42.50.

National Storage Affiliates Trust Trading Up 0.6 %

The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.28. The stock’s fifty day moving average price is $44.92 and its two-hundred day moving average price is $40.47. The stock has a market capitalization of $3.66 billion, a P/E ratio of 25.43 and a beta of 0.98.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.47). The company had revenue of $190.50 million during the quarter, compared to the consensus estimate of $186.37 million. National Storage Affiliates Trust had a net margin of 21.23% and a return on equity of 10.43%. The company’s revenue was down 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. Equities research analysts forecast that National Storage Affiliates Trust will post 2.39 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.56 per share. The ex-dividend date is Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.59%. National Storage Affiliates Trust’s dividend payout ratio is currently 117.28%.

Hedge Funds Weigh In On National Storage Affiliates Trust

Hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP increased its position in shares of National Storage Affiliates Trust by 20.3% during the first quarter. Wasatch Advisors LP now owns 6,563,468 shares of the real estate investment trust’s stock valued at $257,025,000 after buying an additional 1,108,176 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of National Storage Affiliates Trust by 69.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,309,828 shares of the real estate investment trust’s stock worth $95,789,000 after acquiring an additional 950,171 shares during the period. Norges Bank bought a new position in shares of National Storage Affiliates Trust in the 4th quarter worth approximately $36,567,000. Swedbank AB bought a new position in shares of National Storage Affiliates Trust in the 1st quarter worth approximately $16,056,000. Finally, Long Pond Capital LP purchased a new position in shares of National Storage Affiliates Trust in the 2nd quarter valued at approximately $16,198,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

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.