BMO Capital analyst Juan C. Sanabria maintained a Hold rating on National Storage Affiliates yesterday and set a price target of $37.00.
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Juan C. Sanabria has given his Hold rating due to a combination of factors, including the mixed results from National Storage Affiliates’ third-quarter performance. While the earnings surpassed expectations, the same-store net operating income fell short, primarily due to higher expenses. Despite this, the company maintained its earnings and same-store guidance, which aligns with previous forecasts, suggesting stability in its financial outlook.
Sanabria also noted that the company’s guidance for the full year remains consistent with market expectations, with a core funds from operations guidance of $2.20 per share. However, the company’s same-store revenue and net operating income projections are below those of its peers, indicating potential challenges in matching industry growth rates. These factors contribute to the Hold rating, as they suggest a cautious approach given the current market conditions and the company’s relative performance compared to its competitors.
In another report released on October 28, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $34.00 price target.