US Bancorp DE Increases Stake in National Storage Affiliates Trust (NYSE:NSA)

US Bancorp DE boosted its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 13.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,073 shares of the real estate investment trust’s stock after purchasing an additional 360 shares during the period. US Bancorp DE’s holdings in National Storage Affiliates Trust were worth $148,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in National Storage Affiliates Trust during the 2nd quarter worth approximately $33,000. Ashton Thomas Private Wealth LLC acquired a new position in National Storage Affiliates Trust during the second quarter valued at $39,000. Bellevue Asset Management LLC purchased a new stake in National Storage Affiliates Trust in the third quarter valued at $39,000. Rothschild Investment LLC acquired a new stake in National Storage Affiliates Trust during the 2nd quarter worth about $59,000. Finally, GAMMA Investing LLC grew its position in National Storage Affiliates Trust by 174.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 927 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on NSA shares. Evercore ISI upped their target price on National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 16th. Barclays lifted their target price 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. Jefferies Financial Group raised their price target on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Citigroup upped 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 report on Friday, August 30th. Finally, Robert W. Baird raised their target price on National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, National Storage Affiliates Trust currently has an average rating of “Hold” and a consensus target price of $43.17.

National Storage Affiliates Trust Stock Up 1.9 %

NSA stock opened at $43.14 on Friday. 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 firm has a 50-day moving average of $45.14 and a two-hundred day moving average of $42.40. National Storage Affiliates Trust has a 12 month low of $32.42 and a 12 month high of $49.44. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 25.22 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 for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42). National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The company had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.45 million. During the same period last year, the firm posted $0.67 EPS. The business’s quarterly revenue was down 20.2% on a year-over-year basis. As a group, analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share 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. Shareholders of record on Friday, December 13th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 5.29%. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. National Storage Affiliates Trust’s payout ratio is presently 130.99%.

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.