Principal Financial Group Inc. Increases Position in National Storage Affiliates Trust (NYSE:NSA)

Principal Financial Group Inc. lifted its stake in National Storage Affiliates Trust (NYSE:NSA) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,381 shares of the real estate investment trust’s stock after purchasing an additional 367 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of National Storage Affiliates Trust worth $6,358,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Nissay Asset Management Corp Japan ADV lifted its position in shares of National Storage Affiliates Trust by 4.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 10,211 shares of the real estate investment trust’s stock valued at $385,000 after acquiring an additional 398 shares during the period. 1620 Investment Advisors Inc. grew its holdings in shares of National Storage Affiliates Trust by 3.5% in the 4th quarter. 1620 Investment Advisors Inc. now owns 13,904 shares of the real estate investment trust’s stock worth $527,000 after acquiring an additional 475 shares during the period. Xponance Inc. increased its stake in National Storage Affiliates Trust by 6.3% in the 4th quarter. Xponance Inc. now owns 8,051 shares of the real estate investment trust’s stock valued at $305,000 after purchasing an additional 475 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in National Storage Affiliates Trust by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 42,213 shares of the real estate investment trust’s stock worth $1,661,000 after purchasing an additional 499 shares during the last quarter. Finally, Moseley Investment Management Inc. boosted its position in National Storage Affiliates Trust by 2.4% during the first quarter. Moseley Investment Management Inc. now owns 24,944 shares of the real estate investment trust’s stock worth $983,000 after purchasing an additional 577 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Trading Up 0.3%

NSA stock opened at $32.01 on Thursday. National Storage Affiliates Trust has a 52 week low of $30.88 and a 52 week high of $49.44. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 54.25 and a beta of 1.12. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 2.54. The business has a fifty day simple moving average of $33.61 and a 200-day simple moving average of $35.91.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $188.35 million for the quarter, compared to analyst estimates of $184.65 million. During the same period last year, the company posted $0.60 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities research analysts expect that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.28 annualized dividend and a dividend yield of 7.12%. National Storage Affiliates Trust’s dividend payout ratio is presently 386.44%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BNP Paribas Exane started coverage on National Storage Affiliates Trust in a research report on Tuesday, June 24th. They issued an “underperform” rating and a $33.00 price target for the company. Morgan Stanley downgraded 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 report on Tuesday, May 27th. Mizuho assumed coverage on shares of National Storage Affiliates Trust in a research note on Wednesday, April 9th. They set a “neutral” rating and a $35.00 price objective for the company. Wall Street Zen downgraded National Storage Affiliates Trust from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Finally, Truist Financial set a $37.00 target price on National Storage Affiliates Trust and gave the company a “hold” rating in a report on Monday, May 19th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, National Storage Affiliates Trust presently 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.