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

Sumitomo Mitsui Trust Group Inc. decreased its holdings in National Storage Affiliates Trust (NYSE:NSA) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,529 shares of the real estate investment trust’s stock after selling 422 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in National Storage Affiliates Trust were worth $3,689,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Versor Investments LP purchased a new stake in shares of National Storage Affiliates Trust during the 3rd quarter valued at about $222,000. Venturi Wealth Management LLC boosted its stake in National Storage Affiliates Trust by 514.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,451 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 1,215 shares during the period. Wolverine Asset Management LLC bought a new position in National Storage Affiliates Trust in the 3rd quarter worth approximately $231,000. Ashton Thomas Securities LLC purchased a new stake in shares of National Storage Affiliates Trust during the 3rd quarter worth approximately $29,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of National Storage Affiliates Trust by 202.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 147,819 shares of the real estate investment trust’s stock worth $7,125,000 after acquiring an additional 99,024 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Stock Performance

Shares of National Storage Affiliates Trust stock opened at $43.36 on Tuesday. National Storage Affiliates Trust has a 52 week low of $32.42 and a 52 week high of $49.44. The business’s fifty day simple moving average is $45.08 and its 200-day simple moving average is $42.56. The firm has a market cap of $3.31 billion, a PE ratio of 25.35 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 quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $185.45 million. During the same period last year, the company earned $0.67 EPS. The business’s revenue for the quarter was down 20.2% on a year-over-year basis. Equities analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.57 per share. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, December 13th. This represents a $2.28 annualized dividend and a yield of 5.26%. National Storage Affiliates Trust’s dividend payout ratio is presently 130.99%.

Analysts Set New Price Targets

Several research firms recently weighed in on NSA. Jefferies Financial Group increased their price target on National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Robert W. Baird increased their target price on 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. Truist Financial raised their price target on National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Citigroup raised their price target on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Barclays lifted their target price on National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. 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 stock. According to data from MarketBeat.com, National Storage Affiliates Trust 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.