Victory Capital Management Inc. Purchases 227,334 Shares of National Storage Affiliates Trust (NYSE:NSA)

Victory Capital Management Inc. boosted its position in shares of National Storage Affiliates Trust (NYSE:NSA) by 1,581.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 241,705 shares of the real estate investment trust’s stock after purchasing an additional 227,334 shares during the period. Victory Capital Management Inc. owned about 0.32% of National Storage Affiliates Trust worth $11,650,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC grew its holdings in National Storage Affiliates Trust by 15.8% during the 3rd quarter. Aptus Capital Advisors LLC now owns 71,770 shares of the real estate investment trust’s stock valued at $3,459,000 after purchasing an additional 9,813 shares during the last quarter. Versor Investments LP bought a new position in National Storage Affiliates Trust during the 3rd quarter valued at about $222,000. Venturi Wealth Management LLC grew its holdings in National Storage Affiliates Trust by 514.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,451 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 1,215 shares during the last quarter. Wolverine Asset Management LLC bought a new position in National Storage Affiliates Trust during the 3rd quarter valued at about $231,000. Finally, Ashton Thomas Securities LLC bought a new position in National Storage Affiliates Trust during the 3rd quarter valued at about $29,000. 99.97% of the stock is currently owned by institutional investors.

National Storage Affiliates Trust Price Performance

NYSE NSA opened at $43.92 on Thursday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s 50 day moving average price is $44.95 and its 200-day moving average price is $42.67. National Storage Affiliates Trust has a 52-week low of $32.42 and a 52-week high of $49.44. The company has a market cap of $3.35 billion, a PE ratio of 25.64 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 (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 quarter in the prior year, the business posted $0.67 earnings per share. National Storage Affiliates Trust’s revenue for the quarter was down 20.2% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.57 per share. This is a boost 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 5.19%. National Storage Affiliates Trust’s dividend payout ratio is presently 133.33%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NSA. Barclays upped their price target on shares of National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Truist Financial upped their target price on shares of 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 upped their target price on shares of 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. 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. Finally, Jefferies Financial Group upped their target price on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.17.

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.