State Street Corp Sells 73,396 Shares of National Storage Affiliates Trust (NYSE:NSA)

State Street Corp cut its holdings in National Storage Affiliates Trust (NYSE:NSA) by 1.9% during the 3rd quarter, Holdings Channel reports. The firm owned 3,711,400 shares of the real estate investment trust’s stock after selling 73,396 shares during the period. State Street Corp’s holdings in National Storage Affiliates Trust were worth $178,889,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Loomis Sayles & Co. L P purchased a new stake in National Storage Affiliates Trust in the 3rd quarter worth approximately $25,000. Ashton Thomas Securities LLC purchased a new stake in National Storage Affiliates Trust in the third quarter worth $29,000. Northwestern Mutual Wealth Management Co. bought a new stake in National Storage Affiliates Trust in the second quarter valued at $33,000. Ashton Thomas Private Wealth LLC purchased a new position in National Storage Affiliates Trust during the 2nd quarter valued at $39,000. Finally, Bellevue Asset Management LLC purchased a new position in National Storage Affiliates Trust during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Stock Up 0.1 %

NSA stock opened at $42.29 on Friday. The business has a 50 day moving average of $43.64 and a 200 day moving average of $43.42. The firm has a market cap of $3.22 billion, a PE ratio of 24.73 and a beta of 1.01. National Storage Affiliates Trust has a twelve month low of $34.50 and a twelve month high of $49.44. 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 (NYSE:NSA) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.42). The company had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.45 million. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. National Storage Affiliates Trust’s revenue was down 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. On average, research analysts forecast that National Storage Affiliates Trust will post 2.4 EPS 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. The ex-dividend date is Friday, December 13th. This is a boost from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 5.39%. National Storage Affiliates Trust’s payout ratio is 133.33%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Barclays raised their target price on shares of National Storage Affiliates Trust from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Jefferies Financial Group lifted their price objective on 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 increased their target price on 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. Evercore ISI lifted their price target on National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company upped their price target on National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.17.

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.