Baird Financial Group Inc. Buys 11,607 Shares of National Storage Affiliates Trust $NSA

Key Points

• Baird Financial Group Inc. increased its stake in National Storage Affiliates Trust by 10.9%, owning approximately 118,428 shares valued at $4.67 million after buying an additional 11,607 shares in the first quarter.
• The company reported a missed earnings estimate for the last quarter, with an EPS of $0.55 compared to the consensus estimate of $0.58, although revenue was slightly above expectations at $188.84 million.
• National Storage Affiliates Trust also declared a quarterly dividend of $0.57, representing a 7.0% yield and a significant payout ratio of 367.74%.

Baird Financial Group Inc. boosted its position in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 10.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,428 shares of the real estate investment trust's stock after purchasing an additional 11,607 shares during the quarter. Baird Financial Group Inc. owned about 0.15% of National Storage Affiliates Trust worth $4,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp raised its holdings in National Storage Affiliates Trust by 30.7% in 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 acquiring an additional 253,176 shares in the last quarter. GW&K Investment Management LLC increased its holdings in National Storage Affiliates Trust by 0.6% in the 1st quarter. GW&K Investment Management LLC now owns 778,132 shares of the real estate investment trust's stock worth $30,658,000 after purchasing an additional 4,609 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in National Storage Affiliates Trust by 0.7% in the 4th quarter. Nuveen Asset Management LLC now owns 618,924 shares of the real estate investment trust's stock worth $23,463,000 after purchasing an additional 4,363 shares in the last quarter. Nuveen LLC acquired a new position in National Storage Affiliates Trust in the 1st quarter worth about $23,134,000. Finally, LPL Financial LLC increased its stake in shares of National Storage Affiliates Trust by 0.3% in the first quarter. LPL Financial LLC now owns 535,525 shares of the real estate investment trust's stock valued at $21,100,000 after buying an additional 1,713 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

National Storage Affiliates Trust Trading Up 0.7%

Shares of NSA traded up $0.21 during trading hours on Wednesday, hitting $32.06. The company had a trading volume of 173,560 shares, compared to its average volume of 892,086. National Storage Affiliates Trust has a 52-week low of $28.02 and a 52-week high of $49.44. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.62. The stock's 50 day moving average price is $31.41 and its 200 day moving average price is $34.26. The firm has a market cap of $2.46 billion, a P/E ratio of 51.73 and a beta of 1.09.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). National Storage Affiliates Trust had a return on equity of 4.91% and a net margin of 8.92%.The business had revenue of $188.84 million during the quarter, compared to analysts' expectations of $185.91 million. During the same quarter last year, the business posted $0.21 EPS. The company's quarterly revenue was down .8% compared to the same quarter last year. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. On average, research analysts predict that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Monday, September 15th. National Storage Affiliates Trust's payout ratio is presently 367.74%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BNP Paribas Exane initiated coverage on National Storage Affiliates Trust in a research report on Tuesday, June 24th. They set an "underperform" rating and a $33.00 target price on the stock. BNP Paribas raised National Storage Affiliates Trust to a "strong sell" rating in a research report on Tuesday, June 24th. National Bankshares set a $33.00 price objective on National Storage Affiliates Trust in a report on Tuesday, June 24th. Truist Financial reduced their price objective on National Storage Affiliates Trust from $37.00 to $32.00 and set a "hold" rating for the company in a report on Monday, August 25th. Finally, Robert W. Baird cut their price target on National Storage Affiliates Trust from $39.00 to $34.00 and set a "neutral" rating for the company in a report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of $36.45.

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.