Envestnet Asset Management Inc. Reduces Stake in National Storage Affiliates Trust (NYSE:NSA)

Envestnet Asset Management Inc. trimmed its position in shares of National Storage Affiliates Trust (NYSE:NSA) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 160,373 shares of the real estate investment trust’s stock after selling 8,777 shares during the quarter. Envestnet Asset Management Inc.’s holdings in National Storage Affiliates Trust were worth $6,080,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in National Storage Affiliates Trust during the 4th quarter valued at about $26,737,000. Raymond James Financial Inc. acquired a new position in shares of National Storage Affiliates Trust during the 4th quarter worth approximately $13,354,000. TimesSquare Capital Management LLC lifted its stake in National Storage Affiliates Trust by 39.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,110,784 shares of the real estate investment trust’s stock valued at $42,110,000 after buying an additional 315,474 shares in the last quarter. Franklin Resources Inc. grew its holdings in National Storage Affiliates Trust by 140.6% during the 4th quarter. Franklin Resources Inc. now owns 312,929 shares of the real estate investment trust’s stock valued at $11,863,000 after buying an additional 182,878 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of National Storage Affiliates Trust in the fourth quarter worth $5,055,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

National Storage Affiliates Trust Stock Down 3.8 %

NSA opened at $35.38 on Tuesday. National Storage Affiliates Trust has a 1 year low of $30.88 and a 1 year high of $49.44. The firm has a 50 day moving average price of $37.21 and a 200 day moving average price of $39.51. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $2.70 billion, a PE ratio of 20.69 and a beta of 1.04.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.41. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The business had revenue of $190.12 million for the quarter, compared to the consensus estimate of $185.37 million. Sell-side analysts expect that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.57 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.44%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is currently 200.00%.

Wall Street Analysts Forecast Growth

NSA has been the subject of a number of recent research reports. Barclays dropped their price objective on National Storage Affiliates Trust from $42.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Mizuho began coverage on shares of National Storage Affiliates Trust in a research note on Wednesday, April 9th. They set a “neutral” rating and a $35.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Robert W. Baird reduced their price target on National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded National Storage Affiliates Trust from a “sell” rating to a “hold” rating and dropped their target price for the company from $40.00 to $38.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, National Storage Affiliates Trust has a consensus rating of “Hold” and an average target price of $41.28.

Insider Activity at National Storage Affiliates Trust

In other news, Director Michael J. Schall purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $38.54 per share, with a total value of $154,160.00. Following the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $231,240. This represents a 200.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 13.70% of the company’s stock.

National Storage Affiliates Trust Company 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.