Swiss National Bank Sells 6,900 Shares of National Storage Affiliates Trust (NYSE:NSA)

Swiss National Bank reduced its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,079 shares of the real estate investment trust’s stock after selling 6,900 shares during the period. Swiss National Bank’s holdings in National Storage Affiliates Trust were worth $6,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NSA. Thrivent Financial for Lutherans increased its stake 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 valued at $122,301,000 after buying an additional 22,454 shares during the period. Natixis Advisors LLC increased its position in National Storage Affiliates Trust by 5.1% during the 3rd quarter. Natixis Advisors LLC now owns 75,724 shares of the real estate investment trust’s stock valued at $3,650,000 after purchasing an additional 3,657 shares during the period. Empowered Funds LLC raised its holdings in National Storage Affiliates Trust by 3.0% during the 3rd quarter. Empowered Funds LLC now owns 55,016 shares of the real estate investment trust’s stock worth $2,652,000 after purchasing an additional 1,618 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of National Storage Affiliates Trust by 30.0% in the 3rd quarter. Metis Global Partners LLC now owns 7,195 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 1,659 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of National Storage Affiliates Trust by 1,581.9% in the 3rd quarter. Victory Capital Management Inc. now owns 241,705 shares of the real estate investment trust’s stock valued at $11,650,000 after purchasing an additional 227,334 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

National Storage Affiliates Trust Price Performance

Shares of NYSE:NSA opened at $45.08 on Wednesday. The stock’s 50 day moving average is $44.69 and its 200-day moving average is $42.89. National Storage Affiliates Trust has a twelve month low of $32.42 and a twelve month high of $49.44. 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 firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 26.40 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 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.42). The business had revenue of $174.80 million for the quarter, compared to analyst estimates 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 quarterly revenue was down 20.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. Sell-side analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The business 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 represents a $2.28 dividend on an annualized basis and a yield of 5.06%. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. National Storage Affiliates Trust’s payout ratio is 130.99%.

Wall Street Analyst Weigh In

NSA has been the subject of a number of analyst reports. KeyCorp downgraded shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Barclays boosted 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 note on Monday, October 28th. Truist Financial raised their target price 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. Robert W. Baird lifted their target price on National Storage Affiliates Trust from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group increased their price target on National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.