Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Sumitomo Mitsui Trust Group Inc. lowered its position in National Storage Affiliates Trust (NYSE:NSA) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,529 shares of the real estate investment trust’s stock after selling 422 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of National Storage Affiliates Trust worth $3,689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in National Storage Affiliates Trust during the third quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. bought a new position in National Storage Affiliates Trust during the second quarter valued at about $33,000. Ashton Thomas Private Wealth LLC bought a new position in National Storage Affiliates Trust during the second quarter valued at about $39,000. Bellevue Asset Management LLC bought a new position in National Storage Affiliates Trust during the third quarter valued at about $39,000. Finally, Rothschild Investment LLC bought a new position in National Storage Affiliates Trust during the second quarter valued at about $59,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Price Performance

NSA stock opened at $43.36 on Tuesday. The firm has a 50 day moving average of $45.08 and a 200-day moving average of $42.56. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. National Storage Affiliates Trust has a 12 month low of $32.42 and a 12 month high of $49.44. The firm has a market capitalization of $3.31 billion, a P/E ratio of 25.35 and a beta of 0.99.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42). National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The firm had revenue of $174.80 million during the quarter, compared to the consensus estimate of $185.45 million. During the same quarter last year, the business posted $0.67 earnings per share. National Storage Affiliates Trust’s revenue was down 20.2% compared to the same quarter last year. As a group, sell-side analysts predict that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, December 13th. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 5.26%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 130.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NSA shares. Evercore ISI increased 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 research report on Monday, September 16th. Robert W. Baird increased their price target on shares of National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Truist Financial increased their target price on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Barclays increased their target price on shares of 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, KeyCorp lowered shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research report on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, National Storage Affiliates Trust presently 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.