Envestnet Asset Management Inc. Acquires 11,879 Shares of National Storage Affiliates Trust (NYSE:NSA)

Envestnet Asset Management Inc. lifted its holdings in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 172,252 shares of the real estate investment trust's stock after acquiring an additional 11,879 shares during the quarter. Envestnet Asset Management Inc. owned 0.23% of National Storage Affiliates Trust worth $6,787,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new position in shares of National Storage Affiliates Trust in the fourth quarter worth $28,000. Quarry LP increased 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 buying an additional 756 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of National Storage Affiliates Trust in the fourth quarter worth $50,000. Parallel Advisors LLC increased 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 buying an additional 598 shares during the period. Finally, Blue Trust Inc. increased 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 buying an additional 1,276 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Stock Down 0.8%

National Storage Affiliates Trust stock traded down $0.26 during mid-day trading on Friday, reaching $31.21. The stock had a trading volume of 325,234 shares, compared to its average volume of 854,103. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 52.89 and a beta of 1.12. The company has a 50-day moving average price of $33.11 and a two-hundred day moving average price of $35.65. National Storage Affiliates Trust has a one year low of $30.88 and a one 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 announced its quarterly 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). The firm had revenue of $188.35 million during the quarter, compared to the consensus estimate of $184.65 million. National Storage Affiliates Trust had a return on equity of 4.59% and a net margin of 8.59%. The business's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. On average, analysts expect 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 announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 7.31%. The ex-dividend date was Friday, June 13th. National Storage Affiliates Trust's dividend payout ratio is currently 386.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NSA. Mizuho began coverage on shares of National Storage Affiliates Trust in a research report on Wednesday, April 9th. They set a "neutral" rating and a $35.00 price objective on the stock. BNP Paribas Exane began coverage on shares of National Storage Affiliates Trust in a research report on Tuesday, June 24th. They set an "underperform" rating and a $33.00 price objective on the stock. BNP Paribas raised shares of National Storage Affiliates Trust to a "strong sell" rating in a research report on Tuesday, June 24th. Wall Street Zen downgraded shares of National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, National Bankshares set a $33.00 price objective on shares of National Storage Affiliates Trust in a research report on Tuesday, June 24th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $38.38.

About National Storage Affiliates Trust

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.