Jefferies Starts National Storage Affiliates Trust (NSA) at Buy

Jefferies initiates coverage on National Storage Affiliates Trust (NYSE: NSA) with a Buy rating and a price target of $17.00.

Analyst George Hoglund commented, "NSA has a differentiated model that should facilitate robust portfolio growth over the next few years. Benefits from scale should drive increasing occupancy, rental rates & margins. That said, the complex structure has resulted in a deep valuation discount to the peers, which we think is overdone. We are initiating with a Buy rating and $17 PT, implying a 35% total return over the NTM."

NOTEl: Jefferies was lead manager in NSA's recent IPO.

For an analyst ratings summary and ratings history on National Storage Affiliates Trust click here. For more ratings news on National Storage Affiliates Trust click here.

Shares of National Storage Affiliates Trust closed at $13.24 yesterday.

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