Raymond James Financial Inc. Takes $13.35 Million Position in National Storage Affiliates Trust (NYSE:NSA)

Raymond James Financial Inc. purchased a new position in National Storage Affiliates Trust (NYSE:NSA) during the 4th quarter, Holdings Channel reports. The fund purchased 352,251 shares of the real estate investment trust’s stock, valued at approximately $13,354,000.

Other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its stake in National Storage Affiliates Trust by 6.5% in the 4th quarter. Fisher Asset Management LLC now owns 10,129 shares of the real estate investment trust’s stock worth $384,000 after buying an additional 616 shares during the period. Proficio Capital Partners LLC purchased a new position in National Storage Affiliates Trust in the 4th quarter worth about $795,000. Oppenheimer Asset Management Inc. increased its stake in National Storage Affiliates Trust by 9.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 89,852 shares of the real estate investment trust’s stock worth $3,406,000 after buying an additional 7,655 shares during the period. Charles Schwab Investment Management Inc. increased its stake in National Storage Affiliates Trust by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,012,411 shares of the real estate investment trust’s stock worth $38,381,000 after buying an additional 23,366 shares during the period. Finally, Hancock Whitney Corp increased its stake in 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. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $38.00 in a report on Friday, January 10th. Barclays dropped their target price on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Finally, Robert W. Baird dropped their target price on shares of National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, National Storage Affiliates Trust has an average rating of “Hold” and a consensus target price of $42.06.

National Storage Affiliates Trust Stock Up 0.8 %

NYSE:NSA opened at $38.32 on Thursday. National Storage Affiliates Trust has a fifty-two week low of $34.59 and a fifty-two week high of $49.44. The stock has a market capitalization of $2.93 billion, a P/E ratio of 22.41 and a beta of 1.07. 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’s 50-day simple moving average is $37.52 and its 200-day simple moving average is $41.44.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.41. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The business had revenue of $190.12 million for the quarter, compared to analysts’ expectations of $185.37 million. On average, equities analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date is Friday, March 14th. National Storage Affiliates Trust’s dividend payout ratio is currently 200.00%.

Insider Activity

In related news, Director Michael J. Schall bought 4,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $231,240. This trade represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.00% of the company’s stock.

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.