Victory Capital Management Inc. Boosts Stake in National Storage Affiliates Trust (NYSE:NSA)

Victory Capital Management Inc. grew its stake in National Storage Affiliates Trust (NYSE:NSA) by 1,581.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 241,705 shares of the real estate investment trust’s stock after buying an additional 227,334 shares during the period. Victory Capital Management Inc.’s holdings in National Storage Affiliates Trust were worth $11,650,000 at the end of the most recent quarter.

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

National Storage Affiliates Trust Stock Down 0.7 %

Shares of NYSE NSA opened at $43.92 on Thursday. The company’s 50-day simple moving average is $44.95 and its 200-day simple moving average is $42.67. National Storage Affiliates Trust has a 52-week low of $32.42 and a 52-week high of $49.44. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 25.64 and a beta of 0.99. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35.

National Storage Affiliates Trust (NYSE:NSA) last announced 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 analyst estimates of $185.45 million. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The firm’s revenue for the quarter was down 20.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS. Equities analysts predict that National Storage Affiliates Trust will post 2.4 EPS 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. Stockholders of record on Friday, December 13th will be paid a $0.57 dividend. 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 5.19%. The ex-dividend date of this dividend is Friday, December 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is currently 133.33%.

Analyst Ratings Changes

A number of analysts have recently weighed in on NSA shares. Robert W. Baird increased 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 research note on Wednesday, November 6th. Wells Fargo & Company increased their price objective on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. KeyCorp lowered shares of 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 price objective on shares of 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. Finally, Truist Financial increased their price objective on shares of 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. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $43.17.

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.