Zacks Investment Research Downgrades National Storage Affiliates Trust (NYSE:NSA) to Hold

National Storage Affiliates Trust (NYSE:NSA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “National Storage Affiliates Trust is a real estate investment trust. The company is focused on the ownership, operation and acquisition of self-storage properties primarily in the United States. National Storage Affiliates Trust is based in Houston, United States. “

Separately, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd.

NSA opened at $29.60 on Wednesday. National Storage Affiliates Trust has a one year low of $24.44 and a one year high of $30.49. The stock has a market cap of $1.69 billion, a P/E ratio of 21.45, a P/E/G ratio of 3.89 and a beta of 0.35. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.17. The firm has a 50-day simple moving average of $29.56.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.28). National Storage Affiliates Trust had a net margin of 1.71% and a return on equity of 0.49%. The business had revenue of $90.57 million during the quarter, compared to analysts’ expectations of $93.25 million. During the same quarter in the previous year, the company posted $0.32 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. Analysts forecast that National Storage Affiliates Trust will post 1.52 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tompkins Financial Corp acquired a new stake in shares of National Storage Affiliates Trust in the 1st quarter valued at about $29,000. FMR LLC acquired a new stake in National Storage Affiliates Trust during the 1st quarter worth approximately $32,000. Quantamental Technologies LLC acquired a new stake in National Storage Affiliates Trust during the 1st quarter worth approximately $44,000. Advisory Alpha LLC acquired a new stake in National Storage Affiliates Trust during the 1st quarter worth approximately $45,000. Finally, NumerixS Investment Technologies Inc lifted its position in National Storage Affiliates Trust by 1,700.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,800 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,700 shares during the period. 91.80% of the stock is owned by hedge funds and other institutional investors.

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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