Arizona State Retirement System Trims Holdings in National Storage Affiliates Trust (NYSE:NSA)

Arizona State Retirement System trimmed its holdings in National Storage Affiliates Trust (NYSE:NSA) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,779 shares of the real estate investment trust’s stock after selling 912 shares during the quarter. Arizona State Retirement System’s holdings in National Storage Affiliates Trust were worth $857,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC acquired a new position in National Storage Affiliates Trust during the second quarter worth $59,000. Signaturefd LLC boosted its holdings in National Storage Affiliates Trust by 48.1% in the 2nd quarter. Signaturefd LLC now owns 2,035 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 661 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of National Storage Affiliates Trust during the first quarter valued at approximately $113,000. Highland Capital Management LLC purchased a new position in National Storage Affiliates Trust in the 2nd quarter valued at $212,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of National Storage Affiliates Trust during the second quarter worth $231,000. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NSA shares. Robert W. Baird raised their price objective on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Truist Financial raised their price target on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Wells Fargo & Company upped their target price on shares of National Storage Affiliates Trust from $36.00 to $40.00 and gave the stock an “underweight” rating in a research note on Friday, July 26th. Citigroup increased their price objective on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, 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. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.94.

National Storage Affiliates Trust Price Performance

National Storage Affiliates Trust stock opened at $47.66 on Friday. The stock has a market capitalization of $3.57 billion, a P/E ratio of 24.95 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.72 and a quick ratio of 0.72. National Storage Affiliates Trust has a 12-month low of $27.86 and a 12-month high of $47.93. The firm’s 50-day moving average is $44.21 and its two-hundred day moving average is $40.02.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.47). National Storage Affiliates Trust had a return on equity of 10.43% and a net margin of 21.23%. The business had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $186.37 million. During the same quarter last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. Equities analysts predict that National Storage Affiliates Trust will post 2.39 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio is currently 117.28%.

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.