Bank of New York Mellon Corp Sells 24,346 Shares of National Storage Affiliates Trust (NYSE:NSA)

Bank of New York Mellon Corp cut its holdings in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 842,602 shares of the real estate investment trust's stock after selling 24,346 shares during the period. Bank of New York Mellon Corp owned approximately 1.10% of National Storage Affiliates Trust worth $33,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hudson Edge Investment Partners Inc. bought a new stake in shares of National Storage Affiliates Trust during the first quarter worth about $687,000. Exchange Traded Concepts LLC bought a new stake in shares of National Storage Affiliates Trust during the first quarter worth about $805,000. Peregrine Capital Management LLC increased its position in shares of National Storage Affiliates Trust by 47,286.2% during the first quarter. Peregrine Capital Management LLC now owns 137,420 shares of the real estate investment trust's stock worth $5,414,000 after acquiring an additional 137,130 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of National Storage Affiliates Trust by 17,179.8% during the first quarter. Sound Income Strategies LLC now owns 142,558 shares of the real estate investment trust's stock worth $5,617,000 after acquiring an additional 141,733 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of National Storage Affiliates Trust by 8.0% during the fourth quarter. Sei Investments Co. now owns 394,158 shares of the real estate investment trust's stock worth $14,943,000 after acquiring an additional 29,063 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NSA has been the topic of a number of recent research reports. Morgan Stanley cut shares of National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 price target on the stock. in a research note on Tuesday, May 27th. Truist Financial set a $37.00 target price on shares of National Storage Affiliates Trust and gave the stock a "hold" rating in a report on Monday, May 19th. National Bankshares set a $33.00 target price on shares of National Storage Affiliates Trust in a research report on Tuesday, June 24th. Mizuho started coverage on shares of National Storage Affiliates Trust in a report on Wednesday, April 9th. They issued a "neutral" rating and a $35.00 target price on the stock. Finally, 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. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, National Storage Affiliates Trust currently has an average rating of "Hold" and a consensus target price of $38.63.

National Storage Affiliates Trust Stock Down 0.7%

National Storage Affiliates Trust stock traded down $0.21 during midday trading on Friday, hitting $31.18. 163,012 shares of the company's stock were exchanged, compared to its average volume of 843,066. 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 12 month low of $30.88 and a 12 month high of $49.44. The firm has a 50-day moving average of $33.51 and a two-hundred day moving average of $35.86. The company has a market cap of $2.38 billion, a PE ratio of 52.92 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 the consensus estimate of $0.56 by ($0.02). National Storage Affiliates Trust had a return on equity of 4.59% and a net margin of 8.59%. The business had revenue of $188.35 million for the quarter, compared to the consensus estimate of $184.65 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. The firm's revenue was down 4.0% on a year-over-year basis. As a group, analysts expect that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal 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 issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date was Friday, June 13th. National Storage Affiliates Trust's dividend payout ratio is currently 386.44%.

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.