Principal Financial Group Inc. Cuts Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Principal Financial Group Inc. cut its holdings in shares of National Storage Affiliates Trust (NYSE:NSA) by 30.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161,940 shares of the real estate investment trust’s stock after selling 70,299 shares during the quarter. Principal Financial Group Inc. owned approximately 0.22% of National Storage Affiliates Trust worth $7,806,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of National Storage Affiliates Trust during the 1st quarter worth approximately $113,000. Russell Investments Group Ltd. increased its position in National Storage Affiliates Trust by 27.0% in the first quarter. Russell Investments Group Ltd. now owns 19,461 shares of the real estate investment trust’s stock worth $762,000 after buying an additional 4,139 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of National Storage Affiliates Trust by 2.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 138,504 shares of the real estate investment trust’s stock valued at $5,424,000 after buying an additional 2,800 shares during the period. Quadrature Capital Ltd purchased a new position in shares of National Storage Affiliates Trust during the 1st quarter valued at $257,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of National Storage Affiliates Trust by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,316 shares of the real estate investment trust’s stock worth $2,049,000 after acquiring an additional 1,290 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NSA has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Citigroup lifted their price target on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a research report on Friday, August 30th. KeyCorp cut National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Robert W. Baird raised 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. Finally, Truist Financial upped their price target on 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. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.17.

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA opened at $44.22 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. The company has a 50-day moving average price of $45.01 and a 200-day moving average price of $42.61. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 25.82 and a beta of 0.99. National Storage Affiliates Trust has a 12 month low of $32.42 and a 12 month high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share (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 for the quarter, compared to analysts’ expectations of $185.45 million. During the same period last year, the firm posted $0.67 earnings per share. National Storage Affiliates Trust’s quarterly revenue was down 20.2% on a year-over-year basis. As a group, equities analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.57 dividend. This is an increase 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 dividend on an annualized basis and a yield of 5.16%. National Storage Affiliates Trust’s dividend payout ratio is 130.99%.

National Storage Affiliates Trust Company 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.