Jennison Associates LLC Sells 249,761 Shares of National Storage Affiliates Trust (NYSE:NSA)

Jennison Associates LLC cut its position in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 18.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,071,972 shares of the real estate investment trust's stock after selling 249,761 shares during the quarter. Jennison Associates LLC owned approximately 1.40% of National Storage Affiliates Trust worth $42,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NSA. Balyasny Asset Management L.P. bought a new stake in National Storage Affiliates Trust during the 4th quarter worth approximately $51,081,000. Norges Bank bought a new position in shares of National Storage Affiliates Trust in the 4th quarter worth $26,737,000. Wasatch Advisors LP increased its holdings in shares of National Storage Affiliates Trust by 8.2% in the 4th quarter. Wasatch Advisors LP now owns 6,679,180 shares of the real estate investment trust's stock worth $253,208,000 after buying an additional 506,398 shares during the last quarter. Woodline Partners LP bought a new position in shares of National Storage Affiliates Trust in the 4th quarter worth $11,464,000. Finally, Northern Trust Corp increased its holdings in shares of National Storage Affiliates Trust by 30.7% in the 4th quarter. Northern Trust Corp now owns 1,078,877 shares of the real estate investment trust's stock worth $40,900,000 after buying an additional 253,176 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Price Performance

Shares of NSA stock traded up $0.06 during mid-day trading on Monday, hitting $31.44. The company had a trading volume of 1,033,255 shares, compared to its average volume of 854,436. National Storage Affiliates Trust has a 52-week low of $30.88 and a 52-week high of $49.44. The stock's 50 day moving average price is $33.41 and its 200-day moving average price is $35.79. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.22 and a quick ratio of 0.22. The company has a market capitalization of $2.40 billion, a P/E ratio of 53.28 and a beta of 1.12.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its quarterly earnings data 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 net margin of 8.59% and a return on equity of 4.59%. The firm had revenue of $188.35 million for the quarter, compared to the consensus estimate of $184.65 million. During the same quarter last year, the firm earned $0.60 EPS. The company's revenue was down 4.0% on a year-over-year basis. Equities research 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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date was Friday, June 13th. National Storage Affiliates Trust's dividend payout ratio (DPR) is 386.44%.

Analyst Ratings Changes

Several equities analysts recently commented on NSA shares. BNP Paribas raised shares of National Storage Affiliates Trust to a "strong sell" rating in a report on Tuesday, June 24th. BNP Paribas Exane started coverage on shares of National Storage Affiliates Trust in a research report on Tuesday, June 24th. They issued an "underperform" rating and a $33.00 target price for the company. Wall Street Zen cut shares of National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Mizuho assumed 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 target for the company. Finally, Morgan Stanley lowered shares of National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 price objective for the company. in a research note on Tuesday, May 27th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $38.63.

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.