Alberta Investment Management Corp Sells 13,317 Shares of National Storage Affiliates Trust (NYSE:NSA)

Key Points

• Alberta Investment Management Corp decreased its stake in National Storage Affiliates Trust by 28.7%, selling 13,317 shares and holding a total of 33,098 shares valued at $1,304,000 after the sale.
• Several institutional investors, including Quarry LP and Blue Trust Inc., significantly increased their stakes in National Storage Affiliates Trust during the 4th quarter.
• Analysts have issued a consensus rating of "Hold" for National Storage Affiliates Trust, with a lowered average target price, reflecting a cautious outlook on the stock performance.

Alberta Investment Management Corp cut its stake in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 28.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,098 shares of the real estate investment trust's stock after selling 13,317 shares during the quarter. Alberta Investment Management Corp's holdings in National Storage Affiliates Trust were worth $1,304,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV increased its stake in shares of National Storage Affiliates Trust by 4.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 10,211 shares of the real estate investment trust's stock worth $385,000 after purchasing an additional 398 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of National Storage Affiliates Trust by 7.5% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,932 shares of the real estate investment trust's stock valued at $234,000 after acquiring an additional 413 shares during the period. Cerity Partners LLC grew its stake in shares of National Storage Affiliates Trust by 0.9% during the 1st quarter. Cerity Partners LLC now owns 55,004 shares of the real estate investment trust's stock valued at $2,167,000 after acquiring an additional 483 shares during the period. State of Alaska Department of Revenue increased its holdings in National Storage Affiliates Trust by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 42,213 shares of the real estate investment trust's stock worth $1,661,000 after acquiring an additional 499 shares in the last quarter. Finally, Moseley Investment Management Inc. lifted its holdings in National Storage Affiliates Trust by 2.4% during the first quarter. Moseley Investment Management Inc. now owns 24,944 shares of the real estate investment trust's stock valued at $983,000 after purchasing an additional 577 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Trading Up 0.2%

Shares of NSA traded up $0.05 during mid-day trading on Thursday, reaching $30.24. The company had a trading volume of 527,023 shares, compared to its average volume of 872,027. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 48.87 and a beta of 1.10. The company has a current ratio of 0.30, a quick ratio of 0.22 and a debt-to-equity ratio of 2.62. The firm has a fifty day simple moving average of $32.29 and a 200-day simple moving average of $35.27. National Storage Affiliates Trust has a fifty-two week low of $28.02 and a fifty-two week high of $49.44.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). The firm had revenue of $188.84 million for the quarter, compared to the consensus estimate of $185.91 million. National Storage Affiliates Trust had a return on equity of 4.91% and a net margin of 8.92%. The business's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. On average, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 7.5%. The ex-dividend date was Friday, June 13th. National Storage Affiliates Trust's dividend payout ratio is 386.44%.

Analysts Set New Price Targets

NSA has been the subject of several research analyst reports. National Bankshares set a $33.00 target price on shares of National Storage Affiliates Trust in a research note on Tuesday, June 24th. 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. Morgan Stanley lowered 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. Wall Street Zen downgraded shares of National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, BNP Paribas upgraded shares of National Storage Affiliates Trust to a "strong sell" rating in a research report on Tuesday, June 24th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $38.38.

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.