Algert Global LLC Lowers Position in National Storage Affiliates Trust (NYSE:NSA)

Algert Global LLC cut its stake in National Storage Affiliates Trust (NYSE:NSA) by 17.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 97,635 shares of the real estate investment trust’s stock after selling 21,021 shares during the quarter. Algert Global LLC’s holdings in National Storage Affiliates Trust were worth $4,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NSA. Wasatch Advisors LP lifted its holdings in National Storage Affiliates Trust by 20.3% in the first quarter. Wasatch Advisors LP now owns 6,563,468 shares of the real estate investment trust’s stock worth $257,025,000 after buying an additional 1,108,176 shares during the period. Balyasny Asset Management L.P. lifted its holdings in National Storage Affiliates Trust by 69.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,309,828 shares of the real estate investment trust’s stock worth $95,789,000 after buying an additional 950,171 shares during the period. Swedbank AB purchased a new stake in National Storage Affiliates Trust in the first quarter worth about $16,056,000. Long Pond Capital LP purchased a new stake in National Storage Affiliates Trust in the second quarter worth about $16,198,000. Finally, D. Scott Neal Inc. purchased a new stake in National Storage Affiliates Trust in the first quarter worth about $9,020,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Price Performance

Shares of NYSE NSA opened at $48.21 on Tuesday. National Storage Affiliates Trust has a twelve month low of $27.86 and a twelve month high of $49.44. The firm has a market cap of $3.61 billion, a P/E ratio of 25.24 and a beta of 0.98. The company has a 50 day moving average of $45.23 and a 200 day moving average of $40.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.28.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.47). National Storage Affiliates Trust had a return on equity of 10.43% and a net margin of 21.23%. The firm had revenue of $190.50 million during the quarter, compared to analysts’ expectations of $186.37 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. National Storage Affiliates Trust’s revenue was down 11.6% on a year-over-year basis. As a group, research analysts expect that National Storage Affiliates Trust will post 2.41 EPS for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 117.28%.

Wall Street Analyst Weigh In

Several brokerages have commented on NSA. Truist Financial raised their price objective on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Citigroup lifted their target price on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a report on Friday, August 30th. Evercore ISI lifted their target price on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 16th. Robert W. Baird lifted their target price on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Finally, Jefferies Financial Group lifted their target price on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, National Storage Affiliates Trust presently has a consensus rating of “Hold” and a consensus target price of $42.50.

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.