Alberta Investment Management Corp Reduces Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Alberta Investment Management Corp lowered its holdings in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 28.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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.

A number of other large investors also recently bought and sold shares of NSA. Balyasny Asset Management L.P. purchased a new stake in shares of National Storage Affiliates Trust during the 4th quarter worth $51,081,000. Norges Bank acquired a new position in National Storage Affiliates Trust during the 4th quarter valued at about $26,737,000. Wasatch Advisors LP increased its position in National Storage Affiliates Trust by 8.2% during the 4th quarter. Wasatch Advisors LP now owns 6,679,180 shares of the real estate investment trust's stock valued at $253,208,000 after buying an additional 506,398 shares in the last quarter. Woodline Partners LP acquired a new position in National Storage Affiliates Trust during the 4th quarter valued at about $11,464,000. Finally, Northern Trust Corp increased its position in National Storage Affiliates Trust by 30.7% during the 4th quarter. Northern Trust Corp now owns 1,078,877 shares of the real estate investment trust's stock valued at $40,900,000 after buying an additional 253,176 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

National Storage Affiliates Trust Stock Performance

NYSE NSA opened at $29.56 on Monday. The company has a market cap of $2.26 billion, a PE ratio of 50.10 and a beta of 1.10. The stock's 50 day simple moving average is $32.54 and its 200-day simple moving average is $35.39. National Storage Affiliates Trust has a 1-year low of $29.02 and a 1-year high of $49.44. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.22 and a quick ratio of 0.22.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released 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). National Storage Affiliates Trust had a net margin of 8.59% and a return on equity of 4.59%. The firm had revenue of $188.35 million during the quarter, compared to analysts' expectations of $184.65 million. During the same quarter last year, the business earned $0.60 EPS. The business's revenue was down 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Friday, June 13th. National Storage Affiliates Trust's dividend payout ratio (DPR) is currently 386.44%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on National Storage Affiliates Trust from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley lowered National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 target price on the stock. in a report on Tuesday, May 27th. BNP Paribas raised National Storage Affiliates Trust to a "strong sell" rating in a report on Tuesday, June 24th. Mizuho assumed coverage on National Storage Affiliates Trust in a report on Wednesday, April 9th. They set a "neutral" rating and a $35.00 target price on the stock. Finally, Wall Street Zen lowered National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $38.38.

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.

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