Stifel Nicolaus initiated coverage on shares of National Storage Affiliates Trust (NYSE:NSA) in a research note released on Monday, BenzingaRatingsTable reports. The firm issued a buy rating and a $36.00 price objective on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on NSA. ValuEngine upgraded shares of National Storage Affiliates Trust from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded shares of National Storage Affiliates Trust from a buy rating to a hold rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets set a $26.00 target price on shares of National Storage Affiliates Trust and gave the company a hold rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $31.50.

Shares of NYSE NSA opened at $33.33 on Monday. The firm’s 50-day simple moving average is $30.44 and its 200 day simple moving average is $29.29. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 4.18 and a beta of 0.35. The company has a quick ratio of 0.37, a current 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 $33.68.

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 the Thomson Reuters’ consensus estimate of $0.38 by ($0.57). The company had revenue of $95.42 million for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. On average, equities analysts expect that National Storage Affiliates Trust will post 1.52 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in National Storage Affiliates Trust by 2.0% during the 1st 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 period. Vanguard Group Inc. lifted its position in National Storage Affiliates Trust by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,624,526 shares of the real estate investment trust’s stock valued at $191,714,000 after purchasing an additional 213,375 shares during the period. Invesco Ltd. lifted its position in National Storage Affiliates Trust by 228.9% during the 2nd quarter. Invesco Ltd. now owns 2,041,493 shares of the real estate investment trust’s stock valued at $59,081,000 after purchasing an additional 1,420,851 shares during the period. Nuveen Asset Management LLC acquired a new position in National Storage Affiliates Trust during the 2nd quarter valued at about $45,783,000. Finally, Renaissance Technologies LLC lifted its position in National Storage Affiliates Trust by 5.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,527,814 shares of the real estate investment trust’s stock valued at $44,215,000 after purchasing an additional 78,100 shares during the period. Institutional investors own 89.27% of the company’s stock.

About National Storage Affiliates Trust

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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Analyst Recommendations for National Storage Affiliates Trust (NYSE:NSA)

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