National Storage Affiliates Trust (NYSE:NSA) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in National Storage Affiliates Trust (NYSE:NSA) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,763 shares of the real estate investment trust’s stock after selling 2,142 shares during the period. Mutual of America Capital Management LLC’s holdings in National Storage Affiliates Trust were worth $1,820,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Swedbank AB acquired a new stake in National Storage Affiliates Trust during the 1st quarter valued at $16,056,000. Long Pond Capital LP acquired a new stake in shares of National Storage Affiliates Trust during the second quarter valued at about $16,198,000. Victory Capital Management Inc. increased its position in shares of National Storage Affiliates Trust by 1,581.9% during the third quarter. Victory Capital Management Inc. now owns 241,705 shares of the real estate investment trust’s stock worth $11,650,000 after acquiring an additional 227,334 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of National Storage Affiliates Trust in the second quarter worth about $4,534,000. Finally, Los Angeles Capital Management LLC boosted its holdings in National Storage Affiliates Trust by 202.9% in the third quarter. Los Angeles Capital Management LLC now owns 147,819 shares of the real estate investment trust’s stock valued at $7,125,000 after purchasing an additional 99,024 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Stock Performance

NSA opened at $44.35 on Monday. The stock’s 50 day simple moving average is $44.76 and its 200-day simple moving average is $42.79. 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 stock has a market cap of $3.38 billion, a PE ratio of 25.94 and a beta of 0.99. National Storage Affiliates Trust has a 1 year low of $32.42 and a 1 year high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last announced 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 during the quarter, compared to analyst estimates of $185.45 million. During the same quarter in the prior year, the company posted $0.67 EPS. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. Sell-side analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.57 dividend. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 5.14%. The ex-dividend date is Friday, December 13th. National Storage Affiliates Trust’s dividend payout ratio is currently 133.33%.

Analyst Ratings Changes

NSA has been the subject of a number of research reports. KeyCorp downgraded National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. 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 research report on Wednesday, November 6th. Evercore ISI upped their price target on National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 16th. Jefferies Financial Group lifted their price objective on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company raised their price target on National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $43.17.

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.