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Jefferies LLC downgrades National Storage Affiliates Tr to 'hold'

JefferiesLLC analyst GeorgeA. Hoglund downgraded his investment opinion of National Storage Affiliates Trust to "hold" from"buy," with a price target of $21.

The analyst wrote in a research report: "NSA shares areup 23% YTD, outperforming both the self-storage REIT peers (+10%) and the RMZ (+5%).The stock has also surpassed our recently increased PT of $21. NSA now trades at19.9x 2016 FFO, a 6% discount to its closest comp, SSS. We think a 10% - 15% discountis appropriate. While we are still bullish on the fundamental story for NSA, wethink the share price now reflects the near term outlook. Downgrading to Hold."