Nuveen Asset Management LLC Boosts Stake in National Storage Affiliates Trust (NYSE:NSA)

Nuveen Asset Management LLC raised its position in National Storage Affiliates Trust (NYSE:NSA) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 618,924 shares of the real estate investment trust’s stock after purchasing an additional 4,363 shares during the quarter. Nuveen Asset Management LLC’s holdings in National Storage Affiliates Trust were worth $23,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP increased its stake in National Storage Affiliates Trust by 444.7% in the fourth quarter. Quarry LP now owns 926 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 756 shares during the period. Venturi Wealth Management LLC increased its stake in National Storage Affiliates Trust by 48.9% in the fourth quarter. Venturi Wealth Management LLC now owns 2,161 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 710 shares during the period. KBC Group NV increased its stake in National Storage Affiliates Trust by 94.3% in the fourth quarter. KBC Group NV now owns 3,851 shares of the real estate investment trust’s stock worth $146,000 after purchasing an additional 1,869 shares during the period. Sterling Capital Management LLC increased its stake in National Storage Affiliates Trust by 50.8% in the fourth quarter. Sterling Capital Management LLC now owns 4,119 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 1,388 shares during the period. Finally, Virtu Financial LLC purchased a new stake in National Storage Affiliates Trust in the fourth quarter worth $210,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Stock Performance

Shares of NSA stock opened at $33.92 on Friday. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 19.84 and a beta of 1.20. The company’s 50 day moving average is $36.37 and its 200 day moving average is $38.40. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35. National Storage Affiliates Trust has a 52-week low of $30.88 and a 52-week high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.02). National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The company had revenue of $188.35 million during the quarter, compared to analysts’ expectations of $184.65 million. During the same quarter last year, the firm earned $0.60 EPS. National Storage Affiliates Trust’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.28 annualized dividend and a yield of 6.72%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 386.44%.

Insider Buying and Selling at National Storage Affiliates Trust

In other news, Director Michael J. Schall purchased 4,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $38.54 per share, with a total value of $154,160.00. Following the completion of the acquisition, the director now owns 6,000 shares of the company’s stock, valued at $231,240. This trade represents a 200.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NSA has been the topic of a number of research reports. Barclays reduced their target price on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird reduced their target price on shares of National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Mizuho assumed coverage on shares of National Storage Affiliates Trust in a research report on Wednesday, April 9th. They set a “neutral” rating and a $35.00 target price on the stock. Truist Financial cut their price target on National Storage Affiliates Trust from $39.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company cut their price target on National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, National Storage Affiliates Trust has an average rating of “Hold” and a consensus price target of $40.83.

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.