Legal & General Group Plc Buys 67,220 Shares of National Storage Affiliates Trust $NSA

Key Points

• Legal & General Group Plc increased its stake in National Storage Affiliates Trust by 19.6% in the fourth quarter, buying 67,220 additional shares and bringing its total to 410,893 shares worth about $11.6 million.
• National Storage Affiliates Trust reported mixed quarterly results, with earnings of $0.16 per share missing expectations of $0.54, while revenue of $185.4 million came in slightly above estimates.
• The REIT announced a quarterly dividend of $0.57 per share, equal to an annualized yield of 5.4%, while analysts currently hold a consensus rating of Reduce with a target price of $35.97.

Legal & General Group Plc lifted its holdings in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 19.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,893 shares of the real estate investment trust's stock after purchasing an additional 67,220 shares during the period. Legal & General Group Plc owned 0.53% of National Storage Affiliates Trust worth $11,591,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NSA. Advisors Asset Management Inc. bought a new stake in shares of National Storage Affiliates Trust during the 1st quarter valued at about $32,000. Jones Financial Companies Lllp boosted its position in shares of National Storage Affiliates Trust by 81.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,302 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 586 shares in the last quarter. Parallel Advisors LLC boosted 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 valued at $43,000 after purchasing an additional 424 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of National Storage Affiliates Trust by 247.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,828 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 1,302 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of National Storage Affiliates Trust by 33.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,131 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 539 shares in the last quarter. Institutional investors own 99.97% of the company's stock.

National Storage Affiliates Trust Stock Up 1.3%

NSA stock opened at $42.40 on Thursday. The stock's 50 day simple moving average is $41.51 and its 200 day simple moving average is $35.14. National Storage Affiliates Trust has a fifty-two week low of $27.43 and a fifty-two week high of $44.01. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $3.27 billion, a P/E ratio of 56.53 and a beta of 1.05.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.38). National Storage Affiliates Trust had a return on equity of 6.46% and a net margin of 10.48%.The firm had revenue of $185.40 million for the quarter, compared to analyst estimates of $181.69 million. During the same period last year, the company posted $0.54 earnings per share. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts expect that National Storage Affiliates Trust will post 2.22 earnings per share for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Monday, June 15th. National Storage Affiliates Trust's dividend payout ratio is 304.00%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NSA. Evercore upgraded National Storage Affiliates Trust from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 17th. Citigroup upped their target price on National Storage Affiliates Trust from $33.50 to $43.62 and gave the company a "neutral" rating in a research report on Tuesday, May 12th. UBS Group upped their target price on National Storage Affiliates Trust from $29.00 to $42.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. BNP Paribas Exane upgraded National Storage Affiliates Trust from an "underperform" rating to a "neutral" rating and set a $41.00 target price on the stock in a research report on Monday, March 16th. Finally, Wall Street Zen lowered National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. Thirteen analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, National Storage Affiliates Trust has a consensus rating of "Reduce" and a consensus target price of $35.97.

National Storage Affiliates Trust 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.

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