BidaskClub Downgrades National Storage Affiliates Trust (NYSE:NSA) to Strong Sell

BidaskClub downgraded shares of National Storage Affiliates Trust (NYSE:NSA) from a sell rating to a strong sell rating in a research note published on Tuesday morning.

A number of other brokerages have also recently weighed in on NSA. Jefferies Group LLC reiterated a buy rating and issued a $28.00 price objective on shares of National Storage Affiliates Trust in a research note on Monday, May 22nd. FBR & Co reiterated a hold rating and issued a $23.00 price objective on shares of National Storage Affiliates Trust in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. National Storage Affiliates Trust has an average rating of Buy and an average target price of $25.20.

Shares of National Storage Affiliates Trust (NSA) traded up 0.18% during midday trading on Tuesday, hitting $22.46. 610,948 shares of the stock were exchanged. National Storage Affiliates Trust has a one year low of $18.81 and a one year high of $26.15. The company has a market cap of $992.19 million, a price-to-earnings ratio of 79.93 and a beta of 0.77. The firm has a 50 day moving average of $23.44 and a 200-day moving average of $23.38.

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The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.63%. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.24. National Storage Affiliates Trust’s payout ratio is presently 650.04%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NSA. Creative Planning raised its position in National Storage Affiliates Trust by 0.8% in the first quarter. Creative Planning now owns 13,854 shares of the real estate investment trust’s stock worth $331,000 after buying an additional 104 shares during the last quarter. Teachers Advisors LLC raised its position in National Storage Affiliates Trust by 43.1% in the fourth quarter. Teachers Advisors LLC now owns 1,044,453 shares of the real estate investment trust’s stock worth $23,051,000 after buying an additional 314,357 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in National Storage Affiliates Trust during the fourth quarter worth about $212,000. Quadrature Capital Ltd bought a new position in National Storage Affiliates Trust during the fourth quarter worth about $359,000. Finally, Norges Bank bought a new position in National Storage Affiliates Trust during the fourth quarter worth about $1,104,000. 89.13% of the stock is currently owned by institutional investors and hedge funds.

National Storage Affiliates Trust Company Profile

National Storage Affiliates Trust is an integrated, self-administered and self-managed real estate investment trust. The Company is focused on the ownership, operation and acquisition of self-storage properties located within various metropolitan statistical areas (MSAs) across the United States. The Company’s operating partnership subsidiary is NSA OP, LP.

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