Exchange Traded Concepts LLC Buys New Stake 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 the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,427 shares of the real estate investment trust's stock, valued at approximately $805,000.

A number of other hedge funds also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in National Storage Affiliates Trust during the 4th quarter valued at about $28,000. Quarry LP increased its position in shares of National Storage Affiliates Trust by 444.7% during the 4th quarter. Quarry LP now owns 926 shares of the real estate investment trust's stock valued at $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 during the 4th quarter valued at about $50,000. Parallel Advisors LLC increased its position in shares of 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 valued at $67,000 after purchasing an additional 598 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of 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 valued at $82,000 after purchasing an additional 710 shares during the last quarter. Institutional investors own 99.97% of the company's stock.

National Storage Affiliates Trust Price Performance

NSA traded down $0.44 during trading on Friday, reaching $32.39. 1,503,004 shares of the company traded hands, compared to its average volume of 691,317. 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 fifty day simple moving average of $35.09 and a 200 day simple moving average of $36.87. The company has a market cap of $2.48 billion, a P/E ratio of 54.89 and a beta of 1.14.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $188.35 million for the quarter, compared to analysts' expectations of $184.65 million. National Storage Affiliates Trust had a net margin of 8.59% and a return on equity of 4.59%. The company's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. On average, equities analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The firm 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend is Friday, June 13th. National Storage Affiliates Trust's dividend payout ratio (DPR) is presently 386.44%.

Analyst Upgrades and Downgrades

NSA has been the subject of several analyst reports. Robert W. Baird reduced their target price on shares of National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Mizuho initiated 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 for the company. 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. Morgan Stanley lowered shares of 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. Finally, Barclays reduced their target price on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $39.75.

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.