Sumitomo Mitsui Trust Holdings Inc. reduce shares of National Storage Affiliates Trust (NYSE:NSA)

VaselineAugust 23, 2024

0 4 minutes read

Sumitomo Mitsui Trust Holdings Inc. cut its position in National Storage Affiliates Trust (NYSE:NSA – Free Report) by 9.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,951 shares of the real estate investment trust’s stock after selling 8,467 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.10% of National Storage Affiliates Trust worth $3,172,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. GSA Capital Partners LLP purchased a new position in National Storage Affiliates Trust in the 4th quarter worth $2,468,000. Balyasny Asset Management LP boosted its holdings in shares of National Storage Affiliates Trust by 69.9% in the fourth quarter. Balyasny Asset Management LP now owns 2,309,828 shares of the real estate investment trust’s stock worth $95,789,000 after purchasing an additional 950,171 shares in the last quarter. D. Scott Neal Inc. increased its position in National Storage Affiliates Trust by 20.3% in the second quarter. D. Scott Neal Inc. now owns 277,176 shares of the real estate investment trust’s stock valued at $11,425,000 after acquiring an additional 46,848 shares during the period. Louisiana State Employees Retirement System acquired a new stake in National Storage Affiliates Trust in the 4th quarter valued at about $900,000. Finally, BNP Paribas Financial Markets raised its stake in National Storage Affiliates Trust by 86.2% in the first quarter. BNP Paribas Financial Markets now owns 85,539 shares of the real estate investment trust’s stock valued at $3,350,000 after acquiring an additional 39,609 shares in the last quarter. 99.97% of shares are currently held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

Several brokerage houses have influenced the NSA. Evercore ISI lifted their price target on National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an “underperform” rating in a research note on Monday, July 15th. Robert W. Baird boosted their price objective on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Wells Fargo & Company boosted their price objective on shares of National Storage Affiliates Trust from $36.00 to $40.00 and gave the stock an “underweight” rating in a research report on Friday, July 26th. Finally, Truist Financial raised their target price on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.33, based on data from MarketBeat.

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National Storage Affiliates Confidence in Stock Up 1.8%

Shares of National Storage Affiliates Trust stock opened at $44.07 on Thursday. National Storage Affiliates Trust has a fifty-two week low of $27.86 and a fifty-two week high of $46.84. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.01, and a current ratio of 1.01. The stock’s fifty day moving average is $42.45 and the two hundred day moving average is $38.83. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 23.07 and a beta of 0.95.

National Storage Affiliates Trust (NYSE:NSA – Get Free Report ) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.47). National Storage Affiliates Trust had a return on equity of 10.30% and a net margin of 22.07%. The business had revenue of $190.50 million for the quarter, compared to analysts’ expectations of $186.37 million. In the same period last year, the company earned $0.68 per share. The company’s revenue for the quarter was down 11.6% year over year. analysts forecast that National Storage Affiliates Trust will post 2.49 EPS for the current fiscal year.

National Storage Affiliates Trust announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.56 dividend. This represents an annualized dividend of $2.24 and a yield of 5.08%. The ex-dividend date of this dividend is Friday, September 13. National Storage Affiliates Trust’s payout ratio is 117.28%.

Insider trading at National Storage Affiliates Trust

In other news, Director Chad Leroy Meisinger purchased 18,405 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were purchased at an average price of $37.74 per share, with a total value of $694,604.70. Following the completion of the transaction, the director now directly owns 114,155 shares in the company, valued at approximately $4,308,209.70. The acquisition was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 13.00% of shares are currently owned by corporate insiders.

National Storage Affiliates Trust Company Profile

(Free Report)

National Storage Affiliates Trust is a Greenwood Village, Colorado-based real estate investment trust focused on owning, operating and acquiring self-storage properties located predominantly in the top 100 metropolitan statistical areas of the United States. As of December 31, 2023, the Company owned interests in and operated 1,050 warehouse properties located in 42 states and Puerto Rico with approximately 68.6 million rentable square feet, which excludes 39 warehouse properties classified as held for sale to be sold to a third party.