Wasatch Advisors LP Cuts Position in National Storage Affiliates Trust (NYSE:NSA)

Wasatch Advisors LP trimmed its position in shares of National Storage Affiliates Trust (NYSE:NSA) by 10.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,172,782 shares of the real estate investment trust’s stock after selling 722,611 shares during the period. National Storage Affiliates Trust comprises about 1.5% of Wasatch Advisors LP’s portfolio, making the stock its 18th biggest position. Wasatch Advisors LP owned 8.10% of National Storage Affiliates Trust worth $297,528,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NSA. Loomis Sayles & Co. L P purchased a new stake in shares of National Storage Affiliates Trust during the third quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new position in National Storage Affiliates Trust in the third quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. purchased a new position in National Storage Affiliates Trust in the second quarter valued at approximately $33,000. Ashton Thomas Private Wealth LLC purchased a new position in National Storage Affiliates Trust in the second quarter valued at approximately $39,000. Finally, Bellevue Asset Management LLC purchased a new position in National Storage Affiliates Trust in the third quarter valued at approximately $39,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NSA has been the topic of several recent analyst reports. Jefferies Financial Group increased their price target on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company increased their price objective on National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Citigroup increased their price objective on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a report on Friday, August 30th. KeyCorp downgraded National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Finally, Robert W. Baird increased their price objective on National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, National Storage Affiliates Trust has an average rating of “Hold” and a consensus price target of $43.17.

National Storage Affiliates Trust Trading Down 0.6 %

NYSE:NSA opened at $45.10 on Friday. The stock has a fifty day moving average price of $44.44 and a two-hundred day moving average price of $43.04. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 26.37 and a beta of 0.99. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. National Storage Affiliates Trust has a 1 year low of $32.83 and a 1 year high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.42). National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The business had revenue of $174.80 million during the quarter, compared to analysts’ expectations of $185.45 million. During the same quarter in the previous year, the company posted $0.67 EPS. The company’s revenue was down 20.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.06%. This is a boost from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. National Storage Affiliates Trust’s dividend payout ratio (DPR) is currently 133.33%.

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.