Xponance Inc. Reduces Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Xponance Inc. cut its stake in National Storage Affiliates Trust (NYSE:NSA) by 17.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,556 shares of the real estate investment trust’s stock after selling 1,600 shares during the period. Xponance Inc.’s holdings in National Storage Affiliates Trust were worth $311,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NSA. Wasatch Advisors LP increased its holdings in National Storage Affiliates Trust by 20.3% in the first quarter. Wasatch Advisors LP now owns 6,563,468 shares of the real estate investment trust’s stock valued at $257,025,000 after buying an additional 1,108,176 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in National Storage Affiliates Trust by 69.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,309,828 shares of the real estate investment trust’s stock valued at $95,789,000 after buying an additional 950,171 shares in the last quarter. Swedbank AB purchased a new position in National Storage Affiliates Trust in the first quarter valued at about $16,056,000. D. Scott Neal Inc. purchased a new position in shares of National Storage Affiliates Trust during the 1st quarter worth approximately $9,020,000. Finally, Wellington Management Group LLP increased its stake in shares of National Storage Affiliates Trust by 20.7% during the 4th quarter. Wellington Management Group LLP now owns 1,060,274 shares of the real estate investment trust’s stock worth $43,970,000 after purchasing an additional 181,644 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. 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 note on Tuesday, August 6th. Jefferies Financial Group raised 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 research note on Wednesday, September 18th. Barclays raised their price objective on shares of National Storage Affiliates Trust from $38.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 22nd. Citigroup raised their price objective on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Finally, Truist Financial raised their price objective 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. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.50.

National Storage Affiliates Trust Stock Down 1.6 %

Shares of NYSE NSA opened at $47.44 on Wednesday. National Storage Affiliates Trust has a 1 year low of $27.86 and a 1 year high of $49.44. The firm’s 50 day moving average price is $45.31 and its 200 day moving average price is $40.91. The firm has a market cap of $3.56 billion, a P/E ratio of 24.84 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.72 and a current ratio of 0.72.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.47). The company had revenue of $190.50 million during the quarter, compared to analyst estimates of $186.37 million. National Storage Affiliates Trust had a net margin of 21.23% and a return on equity of 10.43%. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.68 EPS. As a group, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.41 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.56 dividend. The ex-dividend date was Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.72%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 117.28%.

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.