Long Pond Capital LP Acquires New Position in National Storage Affiliates Trust (NYSE:NSA)

Long Pond Capital LP bought a new position in National Storage Affiliates Trust (NYSE:NSA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 392,971 shares of the real estate investment trust’s stock, valued at approximately $16,198,000. National Storage Affiliates Trust makes up about 0.9% of Long Pond Capital LP’s portfolio, making the stock its 29th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of NSA. GSA Capital Partners LLP purchased a new position in National Storage Affiliates Trust during the 4th quarter worth $2,468,000. Balyasny Asset Management L.P. increased its stake in shares of National Storage Affiliates Trust by 69.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,309,828 shares of the real estate investment trust’s stock valued at $95,789,000 after buying an additional 950,171 shares during the period. D. Scott Neal Inc. raised its holdings in shares of National Storage Affiliates Trust by 20.3% in the second quarter. D. Scott Neal Inc. now owns 277,176 shares of the real estate investment trust’s stock valued at $11,425,000 after acquiring an additional 46,848 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in National Storage Affiliates Trust by 86.2% in the first quarter. BNP Paribas Financial Markets now owns 85,539 shares of the real estate investment trust’s stock worth $3,350,000 after acquiring an additional 39,609 shares during the period. Finally, Cetera Investment Advisers grew its holdings in National Storage Affiliates Trust by 371.6% during the 1st quarter. Cetera Investment Advisers now owns 83,867 shares of the real estate investment trust’s stock worth $3,284,000 after acquiring an additional 66,082 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Stock Down 2.8 %

Shares of NSA stock opened at $46.82 on Friday. The stock’s fifty day moving average price is $45.16 and its 200 day moving average price is $40.73. National Storage Affiliates Trust has a 1-year low of $27.86 and a 1-year high of $49.44. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 24.51 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.72 and a quick ratio of 0.72.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results 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 business had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $186.37 million. During the same quarter in the previous year, the firm posted $0.68 EPS. National Storage Affiliates Trust’s revenue was down 11.6% on a year-over-year basis. On average, research analysts expect that National Storage Affiliates Trust will post 2.41 earnings per share for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a yield of 4.78%. National Storage Affiliates Trust’s payout ratio is 117.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their price target 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. Jefferies Financial Group upped their target price on National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Citigroup lifted their price target on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a report on Friday, August 30th. Truist Financial upped their price objective on National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Wells Fargo & Company lifted their target price on 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, National Storage Affiliates Trust presently has an average rating of “Hold” and a consensus price target of $42.50.

National Storage Affiliates Trust Company 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.