Wasatch Advisors LP Reduces Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Wasatch Advisors LP lessened its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 10.5% in the third quarter, HoldingsChannel reports. The firm owned 6,172,782 shares of the real estate investment trust’s stock after selling 722,611 shares during the quarter. National Storage Affiliates Trust makes up approximately 1.5% of Wasatch Advisors LP’s holdings, making the stock its 18th biggest holding. Wasatch Advisors LP owned 0.08% of National Storage Affiliates Trust worth $297,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its stake in National Storage Affiliates Trust by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,537,362 shares of the real estate investment trust’s stock worth $122,301,000 after buying an additional 22,454 shares during the last quarter. FMR LLC boosted its stake in National Storage Affiliates Trust by 27.5% in the 3rd quarter. FMR LLC now owns 1,664,182 shares of the real estate investment trust’s stock worth $80,214,000 after buying an additional 358,449 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in National Storage Affiliates Trust by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 989,045 shares of the real estate investment trust’s stock worth $47,672,000 after buying an additional 43,074 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in National Storage Affiliates Trust by 385.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 421,161 shares of the real estate investment trust’s stock worth $20,300,000 after buying an additional 334,445 shares during the last quarter. Finally, Leeward Investments LLC MA boosted its stake in National Storage Affiliates Trust by 30.9% in the 2nd quarter. Leeward Investments LLC MA now owns 414,734 shares of the real estate investment trust’s stock worth $17,095,000 after buying an additional 97,786 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on NSA shares. KeyCorp lowered National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Citigroup raised their price target on National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Jefferies Financial Group lifted their price objective on National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Robert W. Baird lifted their price objective on National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Barclays lifted their price objective on National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $43.17.

National Storage Affiliates Trust Stock Performance

National Storage Affiliates Trust stock opened at $45.10 on Friday. The stock’s 50 day moving average price is $44.44 and its 200 day moving average price is $43.04. The firm has a market capitalization of $3.44 billion, a PE ratio of 26.37 and a beta of 0.99. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. National Storage Affiliates Trust has a one year low of $32.83 and a one year high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.42). The company had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.45 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The business’s revenue was down 20.2% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. As a group, sell-side analysts expect that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 5.06%. National Storage Affiliates Trust’s payout ratio is 133.33%.

National Storage Affiliates Trust Profile

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of December 31, 2023, the Company held ownership interests in and operated 1,050 self storage properties, located in 42 states and Puerto Rico with approximately 68.6 million rentable square feet, which excludes 39 self storage properties classified as held for sale to be sold to a third party.