Analyst Ki Bin Kim from Truist Financial maintained a Hold rating on National Storage Affiliates (NSA – Research Report) and keeping the price target at $39.00.
Ki Bin Kim has given his Hold rating due to a combination of factors impacting National Storage Affiliates. The company maintained its 2025 FFO per share guidance, which aligns closely with both consensus and Truist Securities estimates. However, despite some positive movement in operating metrics, such as improved move-in rates and SSREV, the overall quarterly performance was slightly disappointing when compared to the stronger results of other storage companies.
Furthermore, National Storage Affiliates missed its 1Q FFO per share expectations, and while street rates showed significant improvement, average and end-of-period occupancy rates slightly weakened. The company’s SSNOI growth was also less robust than its peers, indicating a need for further improvement to meet its full-year guidance. These mixed results contribute to the decision to maintain a Hold rating, suggesting a cautious outlook while acknowledging some positive trends.
Bin Kim covers the Real Estate sector, focusing on stocks such as Public Storage, Eastgroup Properties, and Acadia Realty. According to TipRanks, Bin Kim has an average return of 7.8% and a 59.45% success rate on recommended stocks.
In another report released today, BMO Capital also maintained a Hold rating on the stock with a $40.00 price target.