M&T Bank Corp Acquires 6,710 Shares of National Storage Affiliates Trust (NYSE:NSA)

M&T Bank Corp boosted its holdings in National Storage Affiliates Trust (NYSE:NSA) by 50.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,112 shares of the real estate investment trust’s stock after acquiring an additional 6,710 shares during the quarter. M&T Bank Corp’s holdings in National Storage Affiliates Trust were worth $792,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in National Storage Affiliates Trust during the fourth quarter valued at about $28,000. Quarry LP raised its position in National Storage Affiliates Trust by 444.7% during the fourth quarter. Quarry LP now owns 926 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 756 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in National Storage Affiliates Trust during the fourth quarter valued at about $50,000. Parallel Advisors LLC raised its position in National Storage Affiliates Trust by 53.9% during the first quarter. Parallel Advisors LLC now owns 1,708 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 598 shares in the last quarter. Finally, Blue Trust Inc. raised its position in National Storage Affiliates Trust by 279.8% during the first quarter. Blue Trust Inc. now owns 1,732 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 1,276 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

National Storage Affiliates Trust Stock Up 0.4%

Shares of NYSE:NSA opened at $32.70 on Tuesday. National Storage Affiliates Trust has a 1 year low of $30.88 and a 1 year high of $49.44. The company has a market cap of $2.50 billion, a PE ratio of 55.42 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 stock’s 50-day moving average is $33.88 and its 200 day moving average is $36.00.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). National Storage Affiliates Trust had a net margin of 8.59% and a return on equity of 4.59%. The business had revenue of $188.35 million for the quarter, compared to analysts’ expectations of $184.65 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.97%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 386.44%.

Analysts Set New Price Targets

NSA has been the topic of a number of research reports. Morgan Stanley downgraded National Storage Affiliates Trust from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research report on Tuesday, May 27th. National Bankshares set a $33.00 price objective on National Storage Affiliates Trust in a report on Tuesday, June 24th. Truist Financial set a $37.00 price objective on National Storage Affiliates Trust and gave the stock a “hold” rating in a report on Monday, May 19th. Wall Street Zen downgraded National Storage Affiliates Trust from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Finally, BNP Paribas Exane began coverage on National Storage Affiliates Trust in a report on Tuesday, June 24th. They issued an “underperform” rating and a $33.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.63.

About National Storage Affiliates Trust

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.