Cetera Investment Advisers Lowers Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Cetera Investment Advisers lessened its stake in National Storage Affiliates Trust (NYSE:NSA) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,060 shares of the real estate investment trust’s stock after selling 2,807 shares during the period. Cetera Investment Advisers’ holdings in National Storage Affiliates Trust were worth $3,341,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. SPC Financial Inc. grew its position in National Storage Affiliates Trust by 4.8% in the second quarter. SPC Financial Inc. now owns 6,500 shares of the real estate investment trust’s stock worth $268,000 after acquiring an additional 300 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in National Storage Affiliates Trust during the second quarter worth about $33,000. Creative Planning lifted its stake in National Storage Affiliates Trust by 42.5% during the second quarter. Creative Planning now owns 8,251 shares of the real estate investment trust’s stock worth $340,000 after purchasing an additional 2,462 shares during the last quarter. Long Pond Capital LP purchased a new position in shares of National Storage Affiliates Trust in the 2nd quarter worth about $16,198,000. Finally, Millennium Management LLC increased its position in shares of National Storage Affiliates Trust by 125.9% during the 2nd quarter. Millennium Management LLC now owns 161,829 shares of the real estate investment trust’s stock valued at $6,671,000 after purchasing an additional 90,206 shares during the last quarter. Institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Stock Performance

National Storage Affiliates Trust stock opened at $44.19 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.28. The firm has a market cap of $3.31 billion, a P/E ratio of 23.14 and a beta of 0.98. National Storage Affiliates Trust has a 1-year low of $27.86 and a 1-year high of $49.44. The firm has a 50-day moving average of $45.67 and a 200-day moving average of $41.33.

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

National Storage Affiliates Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.07%. The ex-dividend date was Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is currently 117.28%.

Analyst Ratings Changes

Several analysts have issued reports on the company. KeyCorp lowered National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Wells Fargo & Company upped their price objective on shares of National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an “underweight” rating in a research note on Friday, July 26th. Jefferies Financial Group lifted their target price on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Citigroup boosted their price target on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, Barclays raised their price objective on National Storage Affiliates Trust from $38.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 22nd. 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 stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.50.

National Storage Affiliates Trust 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.