Allianz Asset Management GmbH Sells 32,959 Shares of National Storage Affiliates Trust (NYSE:NSA)

Key Points

• Allianz Asset Management GmbH reduced its stake in National Storage Affiliates Trust by 13.5%, now holding approximately $8.32 million worth of shares.
• National Storage Affiliates Trust announced a $0.57 quarterly dividend, reflecting a yield of 7.27% and a high dividend payout ratio of 386.44%.
• The company's recent earnings report showed an EPS of $0.54, which fell short of analyst expectations, alongside a 4.0% year-over-year revenue decline.

Allianz Asset Management GmbH lowered its position in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 211,098 shares of the real estate investment trust's stock after selling 32,959 shares during the period. Allianz Asset Management GmbH owned 0.28% of National Storage Affiliates Trust worth $8,317,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Mizuho assumed coverage on National Storage Affiliates Trust in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $35.00 price objective for the company. Wall Street Zen lowered National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a report on Friday, June 27th. BNP Paribas raised National Storage Affiliates Trust to a "strong sell" rating in a report on Tuesday, June 24th. National Bankshares set a $33.00 target price on National Storage Affiliates Trust in a report on Tuesday, June 24th. Finally, Morgan Stanley lowered 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. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $38.38.

National Storage Affiliates Trust Stock Performance

NSA stock traded down $0.68 during midday trading on Wednesday, reaching $30.84. 585,911 shares of the company's stock traded hands, compared to its average volume of 1,046,801. The company has a 50-day moving average price of $32.72 and a two-hundred day moving average price of $35.50. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.22 and a current ratio of 0.22. National Storage Affiliates Trust has a 52 week low of $30.64 and a 52 week high of $49.44. The firm has a market capitalization of $2.36 billion, a PE ratio of 52.27 and a beta of 1.12.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last issued its earnings results on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $188.35 million for the quarter, compared to the consensus estimate of $184.65 million. During the same period in the previous year, the firm earned $0.60 EPS. The company's revenue was down 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.57 per share. The ex-dividend date was Friday, June 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.39%. National Storage Affiliates Trust's dividend payout ratio (DPR) is currently 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.