National Storage Affiliates Trust (NYSE:NSA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of National Storage Affiliates Trust (NYSE:NSA) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 866,948 shares of the real estate investment trust’s stock after selling 42,851 shares during the period. Bank of New York Mellon Corp owned approximately 1.14% of National Storage Affiliates Trust worth $32,866,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. FMR LLC increased its stake in shares of National Storage Affiliates Trust by 27.5% during the 3rd quarter. FMR LLC now owns 1,664,182 shares of the real estate investment trust’s stock worth $80,214,000 after purchasing an additional 358,449 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of National Storage Affiliates Trust by 385.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 421,161 shares of the real estate investment trust’s stock worth $20,300,000 after buying an additional 334,445 shares during the period. TimesSquare Capital Management LLC boosted its holdings in shares of National Storage Affiliates Trust by 39.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,110,784 shares of the real estate investment trust’s stock worth $42,110,000 after buying an additional 315,474 shares during the period. Victory Capital Management Inc. boosted its holdings in 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 period. Finally, Hancock Whitney Corp boosted its holdings in National Storage Affiliates Trust by 1,760.2% in the 3rd quarter. Hancock Whitney Corp now owns 208,195 shares of the real estate investment trust’s stock valued at $10,035,000 after purchasing an additional 197,003 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

National Storage Affiliates Trust Price Performance

NYSE:NSA opened at $39.48 on Friday. National Storage Affiliates Trust has a one year low of $34.59 and a one year high of $49.44. The company has a market cap of $3.02 billion, a P/E ratio of 23.08 and a beta of 1.07. The firm’s fifty day moving average price is $37.50 and its two-hundred day moving average price is $41.89. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.72 and a quick ratio of 0.72.

National Storage Affiliates Trust (NYSE:NSA) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.41. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The company had revenue of $190.12 million during the quarter, compared to analysts’ expectations of $185.37 million. Equities analysts expect that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, March 14th. National Storage Affiliates Trust’s payout ratio is 200.00%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $38.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating for the company in a research report on Friday, February 21st. Finally, Barclays reduced their target price on shares of National Storage Affiliates Trust from $46.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $42.56.

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.