Exchange Traded Concepts LLC Makes New Investment in National Storage Affiliates Trust (NYSE:NSA)

Exchange Traded Concepts LLC acquired a new position in National Storage Affiliates Trust (NYSE:NSA) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 20,427 shares of the real estate investment trust’s stock, valued at approximately $805,000.

Several other hedge funds and other institutional investors have also modified their holdings of NSA. Van ECK Associates Corp lifted its position in shares of National Storage Affiliates Trust by 16.6% during the 4th quarter. Van ECK Associates Corp now owns 13,874 shares of the real estate investment trust’s stock worth $526,000 after buying an additional 1,975 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in National Storage Affiliates Trust by 8.9% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 47,449 shares of the real estate investment trust’s stock valued at $1,799,000 after purchasing an additional 3,863 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in National Storage Affiliates Trust by 48.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,161 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 710 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in National Storage Affiliates Trust by 9.2% during the 4th quarter. Handelsbanken Fonder AB now owns 25,016 shares of the real estate investment trust’s stock valued at $948,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Navellier & Associates Inc. increased its holdings in National Storage Affiliates Trust by 29.4% during the 4th quarter. Navellier & Associates Inc. now owns 13,766 shares of the real estate investment trust’s stock valued at $522,000 after purchasing an additional 3,128 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

NSA has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Friday, February 21st. Barclays dropped their price target 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. Mizuho started coverage on National Storage Affiliates Trust in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $35.00 target price for the company. Morgan Stanley cut 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 research note on Tuesday, May 27th. Finally, Truist Financial set a $37.00 target price on National Storage Affiliates Trust and gave the company a “hold” rating in a research note on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, National Storage Affiliates Trust has a consensus rating of “Hold” and an average price target of $39.75.

National Storage Affiliates Trust Stock Performance

NSA stock opened at $32.39 on Friday. The business’s 50-day moving average price is $35.09 and its two-hundred day moving average price is $36.92. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 2.54. The firm has a market cap of $2.48 billion, a PE ratio of 54.89 and a beta of 1.14. National Storage Affiliates Trust has a 1-year low of $30.88 and a 1-year high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last posted 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 business had revenue of $188.35 million for the quarter, compared to the consensus estimate of $184.65 million. National Storage Affiliates Trust had a return on equity of 4.59% and a net margin of 8.59%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, research analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued 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 7.04%. National Storage Affiliates Trust’s dividend payout ratio 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.