Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,217 shares of the real estate investment trust’s stock after purchasing an additional 3,032 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.10% of National Storage Affiliates Trust worth $3,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of National Storage Affiliates Trust during the fourth quarter worth about $28,000. Quarry LP grew its stake in National Storage Affiliates Trust by 444.7% in the 4th quarter. Quarry LP now owns 926 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 756 shares during the period. GF Fund Management CO. LTD. purchased a new stake in National Storage Affiliates Trust in the 4th quarter worth approximately $50,000. Parallel Advisors LLC grew its stake in National Storage Affiliates Trust by 53.9% in the 1st quarter. Parallel Advisors LLC now owns 1,708 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 598 shares during the period. Finally, Blue Trust Inc. grew its stake in National Storage Affiliates Trust by 279.8% in the 1st quarter. Blue Trust Inc. now owns 1,732 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 1,276 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays lowered 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. Truist Financial set a $37.00 price target on National Storage Affiliates Trust and gave the company a “hold” rating in a report on Monday, May 19th. National Bankshares set a $33.00 target price on shares of National Storage Affiliates Trust in a report on Tuesday, June 24th. Morgan Stanley downgraded shares of National Storage Affiliates Trust from an “equal weight” rating to an “underweight” rating and set a $30.00 target price for the company. in a report on Tuesday, May 27th. Finally, BNP Paribas Exane initiated coverage on shares of National Storage Affiliates Trust in a report on Tuesday, June 24th. They issued an “underperform” rating and a $33.00 target price for the company. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, National Storage Affiliates Trust currently has an average rating of “Hold” and an average target price of $38.63.

National Storage Affiliates Trust Stock Up 0.2%

Shares of National Storage Affiliates Trust stock opened at $32.61 on Friday. The company has a fifty day moving average price of $34.36 and a 200 day moving average price of $36.23. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 2.54. National Storage Affiliates Trust has a twelve month low of $30.88 and a twelve month high of $49.44. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 55.27 and a beta of 1.12.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.02). The company had revenue of $188.35 million during the quarter, compared to analysts’ expectations of $184.65 million. National Storage Affiliates Trust had a return on equity of 4.59% and a net margin of 8.59%. National Storage Affiliates Trust’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Equities research analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.28 annualized dividend and a dividend yield of 6.99%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 386.44%.

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.