Intech Investment Management LLC Decreases Stock Holdings in National Storage Affiliates Trust (NYSE:NSA)

Intech Investment Management LLC lowered its stake in National Storage Affiliates Trust (NYSE:NSA) by 19.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 23,370 shares of the real estate investment trust’s stock after selling 5,669 shares during the period. Intech Investment Management LLC’s holdings in National Storage Affiliates Trust were worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of National Storage Affiliates Trust in the 3rd quarter worth $5,406,000. J. W. Coons Advisors LLC lifted its stake in shares of National Storage Affiliates Trust by 19.9% in the 3rd quarter. J. W. Coons Advisors LLC now owns 7,000 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 1,160 shares during the period. Quest Partners LLC lifted its stake in shares of National Storage Affiliates Trust by 91.2% in the 3rd quarter. Quest Partners LLC now owns 32,971 shares of the real estate investment trust’s stock worth $1,589,000 after purchasing an additional 15,729 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of National Storage Affiliates Trust by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 2,537,362 shares of the real estate investment trust’s stock worth $122,301,000 after buying an additional 22,454 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in National Storage Affiliates Trust by 5.1% during the third quarter. Natixis Advisors LLC now owns 75,724 shares of the real estate investment trust’s stock valued at $3,650,000 after buying an additional 3,657 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA opened at $45.38 on Thursday. The firm has a fifty day simple moving average of $44.63 and a two-hundred day simple moving average of $42.95. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $3.46 billion, a P/E ratio of 26.73 and a beta of 0.99. National Storage Affiliates Trust has a 52 week low of $32.42 and a 52 week high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last released its 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). The business had revenue of $174.80 million during the quarter, compared to analysts’ expectations of $185.45 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The business’s revenue for the quarter was down 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. On average, analysts expect that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a yield of 5.02%. National Storage Affiliates Trust’s payout ratio is 130.99%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NSA. Truist Financial lifted their price target 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. KeyCorp cut National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research report on Monday, September 9th. Robert W. Baird lifted their price objective on 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. Jefferies Financial Group increased their target price on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, 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. Three 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 MarketBeat, the stock presently 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.