Royal Bank of Canada Cuts Stake in National Storage Affiliates Trust $NSA

Royal Bank of Canada lessened its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 25.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,503 shares of the real estate investment trust’s stock after selling 12,463 shares during the quarter. Royal Bank of Canada’s holdings in National Storage Affiliates Trust were worth $1,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new stake in shares of National Storage Affiliates Trust during the 1st quarter valued at about $32,000. Jones Financial Companies Lllp boosted its holdings in National Storage Affiliates Trust by 207.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,217 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 821 shares during the period. Goldman Sachs Group Inc. boosted its holdings in National Storage Affiliates Trust by 42.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 92,309 shares of the real estate investment trust’s stock worth $3,637,000 after acquiring an additional 27,546 shares during the period. Empowered Funds LLC grew its position in National Storage Affiliates Trust by 2.0% in the first quarter. Empowered Funds LLC now owns 61,409 shares of the real estate investment trust’s stock valued at $2,420,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of National Storage Affiliates Trust by 67.1% during the second quarter. Russell Investments Group Ltd. now owns 20,906 shares of the real estate investment trust’s stock valued at $669,000 after purchasing an additional 8,395 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analysts Set New Price Targets

NSA has been the topic of a number of recent research reports. UBS Group boosted their target price on shares of National Storage Affiliates Trust from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Evercore set a $46.00 price target on shares of National Storage Affiliates Trust and gave the company a “cautious” rating in a report on Monday, July 6th. Weiss Ratings raised shares of National Storage Affiliates Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Truist Financial boosted their price objective on shares of National Storage Affiliates Trust from $38.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, June 23rd. Finally, Citigroup upped their price objective on shares of National Storage Affiliates Trust from $33.50 to $43.62 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Eleven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $39.06.

National Storage Affiliates Trust Stock Performance

NYSE NSA opened at $43.41 on Thursday. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.29 and a current ratio of 0.29. National Storage Affiliates Trust has a one year low of $27.43 and a one year high of $46.47. The company has a 50-day simple moving average of $44.27 and a 200-day simple moving average of $40.70. The firm has a market capitalization of $3.35 billion, a PE ratio of 57.88 and a beta of 1.03.

National Storage Affiliates Trust Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 21st were issued a dividend of $0.0336 per share. The ex-dividend date of this dividend was Tuesday, July 21st. National Storage Affiliates Trust’s dividend payout ratio is 304.00%.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.

The company’s core business involves providing flexible storage solutions to both individual and commercial customers.