Bank of New York Mellon Corp Reduces Stock Holdings in National Storage Affiliates Trust (NYSE:NSA)

Bank of New York Mellon Corp lowered its position in National Storage Affiliates Trust (NYSE:NSA) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 842,602 shares of the real estate investment trust’s stock after selling 24,346 shares during the quarter. Bank of New York Mellon Corp owned 1.10% of National Storage Affiliates Trust worth $33,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fourth Dimension Wealth LLC acquired a new stake in shares of National Storage Affiliates Trust during the fourth quarter worth $28,000. Quarry LP lifted its holdings in shares of 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 during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of National Storage Affiliates Trust during the fourth quarter valued at $50,000. Parallel Advisors LLC raised its holdings in shares of 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 worth $67,000 after acquiring an additional 598 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings 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 buying an additional 1,276 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. National Bankshares set a $33.00 price target on National Storage Affiliates Trust in a research report on Tuesday, June 24th. Mizuho assumed coverage on shares of National Storage Affiliates Trust in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $35.00 price target on the stock. Morgan Stanley lowered shares of 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 note on Tuesday, May 27th. BNP Paribas upgraded shares of National Storage Affiliates Trust to a “strong sell” rating in a research note on Tuesday, June 24th. Finally, BNP Paribas Exane assumed coverage on shares of National Storage Affiliates Trust in a research note on Tuesday, June 24th. They issued an “underperform” rating and a $33.00 price objective for the company. Six investment 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.63.

National Storage Affiliates Trust Stock Down 2.4%

NSA opened at $31.93 on Wednesday. National Storage Affiliates Trust has a 12 month low of $30.88 and a 12 month high of $49.44. 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 company has a market cap of $2.44 billion, a PE ratio of 54.12 and a beta of 1.12. The company has a 50 day moving average of $33.69 and a 200 day moving average of $35.93.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.54 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 the consensus estimate of $184.65 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts expect that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.57 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.28 dividend on an annualized basis and a yield of 7.14%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 386.44%.

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.