Exchange Traded Concepts LLC Takes Position in National Storage Affiliates Trust (NYSE:NSA)

Exchange Traded Concepts LLC purchased a new position in National Storage Affiliates Trust (NYSE:NSA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,427 shares of the real estate investment trust's stock, valued at approximately $805,000.

A number of other institutional investors have also modified their holdings of NSA. Fourth Dimension Wealth LLC purchased a new stake in shares of National Storage Affiliates Trust in the 4th quarter worth approximately $28,000. Quarry LP raised its stake in 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 valued at $35,000 after buying an additional 756 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in National Storage Affiliates Trust in the 4th quarter worth approximately $50,000. Parallel Advisors LLC grew its position in National Storage Affiliates Trust by 53.9% during the 1st 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, Venturi Wealth Management LLC grew its position in National Storage Affiliates Trust by 48.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,161 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 710 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Trading Down 0.8%

Shares of National Storage Affiliates Trust stock traded down $0.26 during mid-day trading on Tuesday, hitting $32.67. The stock had a trading volume of 1,841,732 shares, compared to its average volume of 696,809. The firm has a market cap of $2.50 billion, a P/E ratio of 55.37 and a beta of 1.15. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 2.54. The firm has a 50-day moving average of $35.05 and a two-hundred day moving average of $36.76. National Storage Affiliates Trust has a 12-month low of $30.88 and a 12-month high of $49.44.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $184.65 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The business's revenue for the quarter was down 4.0% compared to the same quarter last year. Sell-side analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.57 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.28 annualized dividend and a yield of 6.98%. National Storage Affiliates Trust's dividend payout ratio (DPR) is presently 386.44%.

Analyst Ratings Changes

NSA has been the subject of several research reports. BNP Paribas Exane started coverage on shares of National Storage Affiliates Trust in a research note on Tuesday. They set an "underperform" rating and a $33.00 price objective for the company. Morgan Stanley downgraded 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. Robert W. Baird cut their price target on shares of National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Barclays reduced their price target on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Finally, Truist Financial set a $37.00 price objective on shares of National Storage Affiliates Trust and gave the company a "hold" rating in a report on Monday, May 19th. Four 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. According to MarketBeat.com, National Storage Affiliates Trust presently has a consensus rating of "Hold" and a consensus target price of $39.14.

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.