Citigroup Boosts National Storage Affiliates Trust (NYSE:NSA) Price Target to $44.50

National Storage Affiliates Trust (NYSE:NSA) had its price objective hoisted by equities research analysts at Citigroup from $36.00 to $44.50 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup’s price target would indicate a potential downside of 4.79% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Evercore ISI boosted their price target on shares of National Storage Affiliates Trust from $38.00 to $40.00 and gave the company an “underperform” rating in a report on Wednesday. Truist Financial upped their target price on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Robert W. Baird raised their price target on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Wells Fargo & Company increased their price objective on National Storage Affiliates Trust from $36.00 to $40.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. Finally, Barclays lifted their target price on National Storage Affiliates Trust from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, National Storage Affiliates Trust currently has an average rating of “Hold” and an average price target of $39.94.

National Storage Affiliates Trust Price Performance

NSA opened at $46.74 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.05. The company’s 50-day moving average price is $43.03 and its 200 day moving average price is $39.28. National Storage Affiliates Trust has a fifty-two week low of $27.86 and a fifty-two week high of $46.84. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 24.47 and a beta of 0.95.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly 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). National Storage Affiliates Trust had a return on equity of 10.30% and a net margin of 22.07%. The company had revenue of $190.50 million for the quarter, compared to analyst estimates of $186.37 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that National Storage Affiliates Trust will post 2.49 earnings per share for the current year.

Insider Activity

In other news, Director Chad Leroy Meisinger acquired 18,405 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were bought at an average price of $37.74 per share, with a total value of $694,604.70. Following the purchase, the director now owns 114,155 shares of the company’s stock, valued at $4,308,209.70. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.00% of the stock is owned by insiders.

Hedge Funds Weigh In On National Storage Affiliates Trust

Several hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP boosted its holdings in 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 worth $257,025,000 after buying an additional 1,108,176 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake 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 in the last quarter. Norges Bank acquired a new position in shares of National Storage Affiliates Trust in the 4th quarter worth $36,567,000. Swedbank AB acquired a new position in shares of National Storage Affiliates Trust in the 1st quarter worth $16,056,000. Finally, Long Pond Capital LP acquired a new stake in shares of National Storage Affiliates Trust during the second quarter worth $16,198,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

National Storage Affiliates Trust Company Profile

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.