Pasadena Private Wealth LLC Trims Position in National Storage Affiliates Trust $NSA

Pasadena Private Wealth LLC lessened its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 64.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,524 shares of the real estate investment trust’s stock after selling 13,940 shares during the quarter. Pasadena Private Wealth LLC’s holdings in National Storage Affiliates Trust were worth $212,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its holdings in National Storage Affiliates Trust by 258.0% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 118,476 shares of the real estate investment trust’s stock valued at $3,580,000 after buying an additional 85,382 shares in the last quarter. Citigroup Inc. grew its holdings in shares of National Storage Affiliates Trust by 19.2% during the third quarter. Citigroup Inc. now owns 253,962 shares of the real estate investment trust’s stock worth $7,675,000 after purchasing an additional 40,871 shares in the last quarter. Irenic Capital Management LP purchased a new position in shares of National Storage Affiliates Trust during the third quarter worth about $12,173,000. Hudson Bay Capital Management LP purchased a new position in shares of National Storage Affiliates Trust during the third quarter worth about $33,082,000. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of National Storage Affiliates Trust during the third quarter worth about $9,293,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Stock Performance

NYSE:NSA opened at $42.63 on Friday. The business has a 50 day moving average of $41.27 and a 200 day moving average of $34.84. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 56.84 and a beta of 1.07. National Storage Affiliates Trust has a 1-year low of $27.43 and a 1-year high of $44.01. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.29 and a quick ratio of 0.29.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.38). National Storage Affiliates Trust had a return on equity of 6.46% and a net margin of 10.48%.The firm had revenue of $185.40 million during the quarter, compared to the consensus estimate of $181.69 million. During the same quarter in the previous year, the firm earned $0.54 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that National Storage Affiliates Trust will post 2.21 earnings per share for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.57 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.28 annualized dividend and a yield of 5.3%. National Storage Affiliates Trust’s payout ratio is presently 304.00%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on National Storage Affiliates Trust from $35.00 to $33.00 and set an “underweight” rating for the company in a report on Thursday, February 5th. Evercore raised National Storage Affiliates Trust from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings raised National Storage Affiliates Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. BNP Paribas Exane raised National Storage Affiliates Trust from an “underperform” rating to a “neutral” rating and set a $41.00 price objective for the company in a report on Monday, March 16th. Finally, Wall Street Zen lowered National Storage Affiliates Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Thirteen investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $35.97.

National Storage Affiliates Trust Profile

National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.

The company’s core business involves providing flexible storage solutions to both individual and commercial customers.