Harbor Capital Advisors Inc. Cuts Position in National Storage Affiliates Trust (NYSE:NSA)

Harbor Capital Advisors Inc. reduced its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 12.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,192 shares of the real estate investment trust’s stock after selling 6,636 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.06% of National Storage Affiliates Trust worth $2,226,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. James Investment Research Inc. grew its position in shares of National Storage Affiliates Trust by 35.3% in the 3rd quarter. James Investment Research Inc. now owns 22,704 shares of the real estate investment trust’s stock worth $1,094,000 after buying an additional 5,921 shares during the last quarter. US Bancorp DE increased its position in shares of National Storage Affiliates Trust by 13.3% during the third quarter. US Bancorp DE now owns 3,073 shares of the real estate investment trust’s stock worth $148,000 after purchasing an additional 360 shares in the last quarter. Bellevue Asset Management LLC purchased a new stake in shares of National Storage Affiliates Trust during the 3rd quarter valued at $39,000. abrdn plc boosted its position in shares of National Storage Affiliates Trust by 4.8% in the 3rd quarter. abrdn plc now owns 13,651 shares of the real estate investment trust’s stock worth $658,000 after purchasing an additional 620 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in National Storage Affiliates Trust by 3.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 8,009 shares of the real estate investment trust’s stock worth $386,000 after buying an additional 257 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Price Performance

Shares of NSA opened at $41.97 on Tuesday. The business’s 50-day moving average is $45.69 and its two-hundred day moving average is $42.08. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $3.15 billion, a P/E ratio of 24.54 and a beta of 0.99. National Storage Affiliates Trust has a fifty-two week low of $29.55 and a fifty-two week high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42). The firm had revenue of $174.80 million during the quarter, compared to analysts’ expectations of $185.45 million. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The firm’s quarterly revenue was down 20.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. Research analysts predict that National Storage Affiliates Trust will post 2.41 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.34%. The ex-dividend date was Friday, September 13th. National Storage Affiliates Trust’s payout ratio is 130.99%.

Analysts Set New Price Targets

Several brokerages have weighed in on NSA. Truist Financial raised their price target on National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Evercore ISI boosted their target price on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research report on Monday, September 16th. Robert W. Baird raised their price target on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Jefferies Financial Group boosted their price objective on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company raised their target price on National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.83.

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.