Truist Financial Corp Lowers Stock Holdings in National Storage Affiliates Trust (NYSE:NSA)

Truist Financial Corp lessened its holdings in National Storage Affiliates Trust (NYSE:NSA) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 44,078 shares of the real estate investment trust’s stock after selling 532 shares during the period. Truist Financial Corp owned 0.06% of National Storage Affiliates Trust worth $1,671,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NSA. State of New Jersey Common Pension Fund D boosted its position in shares of National Storage Affiliates Trust by 8.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 47,449 shares of the real estate investment trust’s stock worth $1,799,000 after acquiring an additional 3,863 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of National Storage Affiliates Trust by 4.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 104,118 shares of the real estate investment trust’s stock valued at $3,924,000 after purchasing an additional 4,843 shares during the last quarter. Van ECK Associates Corp grew its position in shares of National Storage Affiliates Trust by 16.6% during the fourth quarter. Van ECK Associates Corp now owns 13,874 shares of the real estate investment trust’s stock valued at $526,000 after purchasing an additional 1,975 shares in the last quarter. Empowered Funds LLC grew its position in shares of National Storage Affiliates Trust by 9.4% during the fourth quarter. Empowered Funds LLC now owns 60,200 shares of the real estate investment trust’s stock valued at $2,282,000 after purchasing an additional 5,184 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of National Storage Affiliates Trust by 1.8% in the fourth quarter. State of Alaska Department of Revenue now owns 41,714 shares of the real estate investment trust’s stock worth $1,580,000 after purchasing an additional 752 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NSA shares. Barclays dropped their price target on National Storage Affiliates Trust from $46.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating and cut their target price for the company from $40.00 to $38.00 in a report on Friday, January 10th. Wells Fargo & Company decreased their price target on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Finally, Robert W. Baird increased their price objective on shares of National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, National Storage Affiliates Trust presently has an average rating of “Hold” and an average price target of $42.56.

National Storage Affiliates Trust Stock Performance

NYSE:NSA opened at $38.99 on Friday. The firm has a market capitalization of $2.97 billion, a PE ratio of 22.80 and a beta of 1.03. The stock’s fifty day moving average is $37.37 and its 200 day moving average is $42.09. National Storage Affiliates Trust has a fifty-two week low of $34.50 and a fifty-two week high of $49.44. 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 (NYSE:NSA) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.41. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The business had revenue of $190.12 million for the quarter, compared to the consensus estimate of $185.37 million. On average, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 5.85%. The ex-dividend date is Friday, March 14th. National Storage Affiliates Trust’s payout ratio is currently 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.