Irenic Capital Management LP Purchases New Shares in National Storage Affiliates Trust $NSA

Key Points

• Irenic Capital Management LP purchased 402,822 shares of National Storage Affiliates Trust (NSA) in Q3 — about $12.17 million, roughly 0.52% ownership and the firm's 15th-largest holding.
• Wall Street sentiment is mixed but leans negative: the stock has a consensus rating of Reduce with a consensus target price of $32.80 following several recent analyst upgrades and downgrades.
• NSA offers a quarterly dividend of $0.57 (annualized yield ~7.4%) despite a payout ratio above 330%; the company slightly beat Q4 EPS ($0.57 vs. $0.55) and set FY2026 guidance of $2.13–$2.25 while analysts forecast about $2.40 in EPS.

Irenic Capital Management LP purchased a new stake in National Storage Affiliates Trust (NYSE:NSA - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 402,822 shares of the real estate investment trust's stock, valued at approximately $12,173,000. National Storage Affiliates Trust comprises about 1.3% of Irenic Capital Management LP's holdings, making the stock its 15th biggest holding. Irenic Capital Management LP owned approximately 0.52% of National Storage Affiliates Trust as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Peak Financial Advisors LLC lifted its position in shares of National Storage Affiliates Trust by 3.0% during the third quarter. Peak Financial Advisors LLC now owns 13,272 shares of the real estate investment trust's stock valued at $401,000 after purchasing an additional 382 shares in the last quarter. California State Teachers Retirement System increased its stake in National Storage Affiliates Trust by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 66,648 shares of the real estate investment trust's stock valued at $2,132,000 after buying an additional 392 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of National Storage Affiliates Trust by 42.5% during the 3rd quarter. Parallel Advisors LLC now owns 1,421 shares of the real estate investment trust's stock worth $43,000 after buying an additional 424 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of National Storage Affiliates Trust by 43.5% during the 2nd quarter. Osaic Holdings Inc. now owns 1,786 shares of the real estate investment trust's stock worth $61,000 after buying an additional 541 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of National Storage Affiliates Trust by 72.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,387 shares of the real estate investment trust's stock worth $44,000 after buying an additional 581 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NSA has been the subject of several recent analyst reports. Zacks Research raised National Storage Affiliates Trust from a "strong sell" rating to a "hold" rating in a report on Monday, December 8th. Morgan Stanley raised National Storage Affiliates Trust from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $30.00 to $32.00 in a research report on Friday, December 5th. Barclays upped their price objective on National Storage Affiliates Trust from $33.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Wolfe Research raised National Storage Affiliates Trust from an "underperform" rating to a "peer perform" rating in a research report on Monday, January 26th. Finally, Wall Street Zen downgraded shares of National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Ten analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $32.80.

National Storage Affiliates Trust Stock Performance

Shares of NSA stock opened at $30.95 on Monday. The firm's 50 day moving average is $32.88 and its 200 day moving average is $31.08. The stock has a market capitalization of $2.39 billion, a P/E ratio of 44.85 and a beta of 1.17. National Storage Affiliates Trust has a 12 month low of $27.43 and a 12 month high of $39.73. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 2.86.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The real estate investment trust reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.02. The business had revenue of $187.03 million during the quarter, compared to analyst estimates of $187.24 million. National Storage Affiliates Trust had a net margin of 9.80% and a return on equity of 5.81%. National Storage Affiliates Trust's revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. National Storage Affiliates Trust has set its FY 2026 guidance at 2.130-2.250 EPS. On average, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, March 13th. National Storage Affiliates Trust's dividend payout ratio is presently 330.43%.

National Storage Affiliates Trust Company Profile

National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.

The company’s core business involves providing flexible storage solutions to both individual and commercial customers.

Want to see what other hedge funds are holding NSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Storage Affiliates Trust (NYSE:NSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.