Millennium Management LLC Grows Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Millennium Management LLC increased its stake in National Storage Affiliates Trust (NYSE:NSA) by 125.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,829 shares of the real estate investment trust’s stock after acquiring an additional 90,206 shares during the period. Millennium Management LLC owned about 0.22% of National Storage Affiliates Trust worth $6,671,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Caxton Associates LP bought a new stake in National Storage Affiliates Trust in the second quarter valued at approximately $1,553,000. Squarepoint Ops LLC bought a new stake in National Storage Affiliates Trust during the 2nd quarter valued at $767,000. Center Lake Capital Management LLC bought a new stake in National Storage Affiliates Trust during the 2nd quarter valued at $2,885,000. Thrivent Financial for Lutherans boosted its position in National Storage Affiliates Trust by 3.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,514,908 shares of the real estate investment trust’s stock valued at $103,665,000 after buying an additional 90,925 shares during the period. Finally, Sei Investments Co. grew its holdings in National Storage Affiliates Trust by 9.1% in the 2nd quarter. Sei Investments Co. now owns 388,995 shares of the real estate investment trust’s stock worth $16,034,000 after acquiring an additional 32,544 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on NSA shares. Citigroup increased their target price on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a report on Friday, August 30th. KeyCorp lowered National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research report on Monday, September 9th. Jefferies Financial Group boosted their target price on National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Robert W. Baird boosted their price objective on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Finally, Truist Financial upped 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 report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, National Storage Affiliates Trust has an average rating of “Hold” and a consensus price target of $42.50.

National Storage Affiliates Trust Stock Down 1.2 %

NYSE:NSA opened at $44.19 on Friday. National Storage Affiliates Trust has a 1-year low of $27.86 and a 1-year high of $49.44. The company has a market capitalization of $3.31 billion, a PE ratio of 23.14 and a beta of 0.98. The firm’s 50-day moving average price is $45.67 and its 200-day moving average price is $41.33. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.72 and a quick ratio of 0.72.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.16 EPS 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 analysts’ expectations of $186.37 million. National Storage Affiliates Trust had a return on equity of 10.43% and a net margin of 21.23%. The company’s revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. On average, equities analysts predict that National Storage Affiliates Trust will post 2.41 EPS for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is currently 117.28%.

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.