Wolverine Asset Management LLC Takes Position in National Storage Affiliates Trust (NYSE:NSA)

Wolverine Asset Management LLC bought a new position in shares of National Storage Affiliates Trust (NYSE:NSA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,793 shares of the real estate investment trust’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in National Storage Affiliates Trust by 3.8% during the 2nd 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. Leeward Investments LLC MA boosted its position in shares of National Storage Affiliates Trust by 30.9% during the second quarter. Leeward Investments LLC MA now owns 414,734 shares of the real estate investment trust’s stock worth $17,095,000 after acquiring an additional 97,786 shares during the last quarter. Swedbank AB purchased a new position in National Storage Affiliates Trust during the first quarter valued at $16,056,000. Long Pond Capital LP bought a new stake in National Storage Affiliates Trust in the 2nd quarter valued at $16,198,000. Finally, Sei Investments Co. lifted its stake in National Storage Affiliates Trust by 9.1% in the 2nd quarter. Sei Investments Co. now owns 388,995 shares of the real estate investment trust’s stock worth $16,034,000 after purchasing an additional 32,544 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NSA shares. Barclays raised their price objective on National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Truist Financial lifted 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. KeyCorp downgraded National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research report on Monday, September 9th. Jefferies Financial Group boosted their price target on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company increased their price objective on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.17.

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA opened at $42.33 on Friday. 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 company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 24.75 and a beta of 0.99. The firm’s 50-day moving average is $45.22 and its 200 day moving average is $42.40.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results 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 business had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.45 million. During the same period in the prior year, the company posted $0.67 EPS. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. Research analysts predict that National Storage Affiliates Trust will post 2.4 EPS for the current year.

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.