Rhumbline Advisers Lowers Position in National Storage Affiliates Trust (NYSE:NSA)

Rhumbline Advisers lessened its position in National Storage Affiliates Trust (NYSE:NSA) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 198,761 shares of the real estate investment trust’s stock after selling 3,101 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of National Storage Affiliates Trust worth $7,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NSA. Fisher Asset Management LLC raised its stake in National Storage Affiliates Trust by 6.5% during the fourth quarter. Fisher Asset Management LLC now owns 10,129 shares of the real estate investment trust’s stock valued at $384,000 after buying an additional 616 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in National Storage Affiliates Trust during the fourth quarter valued at $795,000. Charles Schwab Investment Management Inc. raised its stake in National Storage Affiliates Trust by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,012,411 shares of the real estate investment trust’s stock valued at $38,381,000 after buying an additional 23,366 shares during the last quarter. Sei Investments Co. raised its stake in National Storage Affiliates Trust by 8.0% during the fourth quarter. Sei Investments Co. now owns 394,158 shares of the real estate investment trust’s stock valued at $14,943,000 after buying an additional 29,063 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in National Storage Affiliates Trust by 9.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 89,852 shares of the real estate investment trust’s stock valued at $3,406,000 after buying an additional 7,655 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 research analysts have issued reports on NSA shares. Wells Fargo & Company lowered their price objective on National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Barclays reduced their target price on National Storage Affiliates Trust from $42.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Truist Financial set a $37.00 target price on National Storage Affiliates Trust and gave the stock a “hold” rating in a report on Monday, May 19th. Morgan Stanley lowered National Storage Affiliates Trust from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a report on Tuesday, May 27th. Finally, Robert W. Baird reduced their target price on National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.75.

National Storage Affiliates Trust Stock Performance

Shares of NSA opened at $34.06 on Wednesday. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.72 and a quick ratio of 0.72. National Storage Affiliates Trust has a one year low of $30.88 and a one year high of $49.44. The firm has a market capitalization of $2.61 billion, a P/E ratio of 19.92 and a beta of 1.14. The business has a fifty day moving average of $35.22 and a 200 day moving average of $37.52.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.02). The company had revenue of $188.35 million for the quarter, compared to analysts’ expectations of $184.65 million. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. National Storage Affiliates Trust’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. As a group, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.28 annualized dividend and a yield of 6.69%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 386.44%.

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.