Van ECK Associates Corp Increases Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Van ECK Associates Corp lifted its holdings in shares of National Storage Affiliates Trust (NYSE:NSA) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,899 shares of the real estate investment trust’s stock after buying an additional 859 shares during the period. Van ECK Associates Corp’s holdings in National Storage Affiliates Trust were worth $574,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. D. Scott Neal Inc. lifted its holdings in 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 during the period. Cetera Investment Advisers grew its position in National Storage Affiliates Trust by 371.6% during the first quarter. Cetera Investment Advisers now owns 83,867 shares of the real estate investment trust’s stock worth $3,284,000 after buying an additional 66,082 shares during the period. Thrivent Financial for Lutherans increased its holdings in National Storage Affiliates Trust by 3.8% in the second quarter. Thrivent Financial for Lutherans now owns 2,514,908 shares of the real estate investment trust’s stock valued at $103,665,000 after buying an additional 90,925 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of National Storage Affiliates Trust during the 2nd quarter valued at approximately $1,553,000. Finally, Swedbank AB purchased a new stake in shares of National Storage Affiliates Trust during the 1st quarter worth approximately $16,056,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on NSA shares. Citigroup upped their target price 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. Robert W. Baird raised their target price on shares of National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Evercore ISI lifted their price objective on National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research report on Monday, September 16th. Finally, Truist Financial increased their target price on National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a report on Friday, August 16th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.17.

National Storage Affiliates Trust Trading Down 1.8 %

NYSE NSA opened at $42.44 on Wednesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. National Storage Affiliates Trust has a one year low of $29.55 and a one year high of $49.44. The company’s 50 day moving average price is $45.38 and its 200 day moving average price is $42.35. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 25.12 and a beta of 0.99.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42). National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The business had revenue of $174.80 million for the quarter, compared to analysts’ expectations of $185.45 million. During the same period last year, the company posted $0.67 earnings per share. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. On average, sell-side analysts predict that National Storage Affiliates Trust will post 2.41 EPS for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.56 per share. The ex-dividend date was Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.28%. National Storage Affiliates Trust’s payout ratio is currently 130.99%.

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.