Wells Fargo & Company Cuts National Storage Affiliates Trust (NYSE:NSA) Price Target to $38.00

National Storage Affiliates Trust (NYSE:NSA) had its price target trimmed by Wells Fargo & Company from $40.00 to $38.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an underweight rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on NSA. Barclays reduced their target price on shares of National Storage Affiliates Trust from $46.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating and reduced their target price for the company from $40.00 to $38.00 in a report on Friday, January 10th. Finally, Robert W. Baird increased their price objective on shares of National Storage Affiliates Trust from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, National Storage Affiliates Trust presently has a consensus rating of “Hold” and an average target price of $42.56.

National Storage Affiliates Trust Price Performance

NYSE:NSA opened at $37.68 on Friday. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 22.03 and a beta of 1.03. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. The company’s 50-day moving average is $37.49 and its two-hundred day moving average is $42.18. National Storage Affiliates Trust has a 12-month low of $34.50 and a 12-month high of $49.44.

National Storage Affiliates Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.57 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 6.05%. National Storage Affiliates Trust’s payout ratio is 133.33%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Loomis Sayles & Co. L P purchased a new position in National Storage Affiliates Trust in the third quarter valued at approximately $25,000. Ashton Thomas Securities LLC purchased a new position in National Storage Affiliates Trust in the third quarter valued at approximately $29,000. Versant Capital Management Inc raised its holdings in National Storage Affiliates Trust by 233.6% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 514 shares during the period. Fourth Dimension Wealth LLC purchased a new position in National Storage Affiliates Trust in the fourth quarter valued at approximately $28,000. Finally, Bellevue Asset Management LLC purchased a new position in National Storage Affiliates Trust in the third quarter valued at approximately $39,000. 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.