Allspring Global Investments Holdings LLC Cuts Stake in National Storage Affiliates Trust (NYSE:NSA)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of National Storage Affiliates Trust (NYSE:NSA) by 41.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,614 shares of the real estate investment trust’s stock after selling 5,993 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in National Storage Affiliates Trust were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NSA. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $38,381,000 after acquiring an additional 23,366 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of National Storage Affiliates Trust during the fourth quarter worth approximately $795,000. Arizona State Retirement System grew its holdings in National Storage Affiliates Trust by 2.1% in the 4th quarter. Arizona State Retirement System now owns 20,944 shares of the real estate investment trust’s stock valued at $794,000 after buying an additional 437 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in National Storage Affiliates Trust in the 4th quarter valued at $13,354,000. Finally, Amundi grew its holdings in shares of National Storage Affiliates Trust by 76.7% during the 4th quarter. Amundi now owns 65,569 shares of the real estate investment trust’s stock worth $2,422,000 after purchasing an additional 28,451 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. National Bankshares set a $33.00 target price on National Storage Affiliates Trust in a research report on Tuesday, June 24th. BNP Paribas Exane began coverage on National Storage Affiliates Trust in a research note on Tuesday, June 24th. They issued an “underperform” rating and a $33.00 target price on the stock. Robert W. Baird lowered their target price on National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Mizuho began 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 on the stock. Finally, BNP Paribas upgraded National Storage Affiliates Trust to a “strong sell” rating in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.63.

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA opened at $32.21 on Friday. The firm has a market capitalization of $2.46 billion, a PE ratio of 54.59 and a beta of 1.12. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.22 and a quick ratio of 0.22. The business has a 50-day moving average of $33.98 and a two-hundred day moving average of $36.06. National Storage Affiliates Trust has a 12 month low of $30.88 and a 12 month high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last issued 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). National Storage Affiliates Trust had a return on equity of 4.59% and a net margin of 8.59%. The company had revenue of $188.35 million during the quarter, compared to analysts’ expectations of $184.65 million. During the same period in the previous year, the company earned $0.60 EPS. National Storage Affiliates Trust’s quarterly revenue was down 4.0% on a year-over-year basis. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 7.08%. The ex-dividend date of this dividend was Friday, June 13th. National Storage Affiliates Trust’s payout ratio is 386.44%.

National Storage Affiliates Trust Company 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.