The Manufacturers Life Insurance Company Sells 1,728 Shares of National Storage Affiliates Trust (NYSE:NSA)

The Manufacturers Life Insurance Company decreased its holdings in National Storage Affiliates Trust (NYSE:NSA) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,840 shares of the real estate investment trust’s stock after selling 1,728 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in National Storage Affiliates Trust were worth $2,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Long Pond Capital LP bought a new position in shares of National Storage Affiliates Trust in the 2nd quarter worth approximately $16,198,000. Victory Capital Management Inc. boosted its holdings in shares of National Storage Affiliates Trust by 1,581.9% during the 3rd quarter. Victory Capital Management Inc. now owns 241,705 shares of the real estate investment trust’s stock valued at $11,650,000 after buying an additional 227,334 shares in the last quarter. Hancock Whitney Corp grew its position in shares of National Storage Affiliates Trust by 1,760.2% in the 3rd quarter. Hancock Whitney Corp now owns 208,195 shares of the real estate investment trust’s stock worth $10,035,000 after buying an additional 197,003 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of National Storage Affiliates Trust in the 3rd quarter worth about $5,406,000. Finally, Los Angeles Capital Management LLC lifted its position in National Storage Affiliates Trust by 202.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 147,819 shares of the real estate investment trust’s stock valued at $7,125,000 after acquiring an additional 99,024 shares during the period. Institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Price Performance

NYSE NSA opened at $43.40 on Monday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 25.38 and a beta of 1.01. The stock has a 50-day moving average of $44.00 and a 200 day moving average of $43.33. National Storage Affiliates Trust has a one year low of $34.50 and a one year high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results 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). The company had revenue of $174.80 million during the quarter, compared to analysts’ expectations of $185.45 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The company’s revenue for the quarter was down 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 EPS. On average, sell-side analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.57 dividend. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, December 13th. This represents a $2.28 dividend on an annualized basis and a yield of 5.25%. National Storage Affiliates Trust’s dividend payout ratio is currently 130.99%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NSA. Robert W. Baird upped their price objective on shares of National Storage Affiliates Trust from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. KeyCorp cut National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Evercore ISI increased their target price on National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 16th. Barclays lifted their price target on National Storage Affiliates Trust from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company increased their price objective on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, National Storage Affiliates Trust has an average rating of “Hold” and a consensus target price of $43.17.

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.