MetLife Investment Management LLC Increases Stock Position in National Storage Affiliates Trust $NSA

Key Points

• MetLife Investment Management LLC significantly increased its holdings in National Storage Affiliates Trust by 630.5% in the first quarter, now owning approximately 0.40% of the company worth nearly $12 million.
• The stock price of National Storage Affiliates Trust has been volatile, with a current trading price of $31.74, compared to its 52-week range of $28.02 to $49.44.
• National Storage Affiliates Trust declared a quarterly dividend of $0.57 per share, which represents an annualized yield of 7.2% despite a high dividend payout ratio of 367.74%.

MetLife Investment Management LLC lifted its position in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 630.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 303,860 shares of the real estate investment trust's stock after acquiring an additional 262,265 shares during the period. MetLife Investment Management LLC owned approximately 0.40% of National Storage Affiliates Trust worth $11,972,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Balyasny Asset Management L.P. bought a new stake in shares of National Storage Affiliates Trust during the fourth quarter valued at approximately $51,081,000. Northern Trust Corp increased its position in shares of National Storage Affiliates Trust by 30.7% during the fourth quarter. Northern Trust Corp now owns 1,078,877 shares of the real estate investment trust's stock valued at $40,900,000 after acquiring an additional 253,176 shares in the last quarter. GW&K Investment Management LLC increased its position in shares of National Storage Affiliates Trust by 0.6% during the first quarter. GW&K Investment Management LLC now owns 778,132 shares of the real estate investment trust's stock valued at $30,658,000 after acquiring an additional 4,609 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of National Storage Affiliates Trust by 0.7% during the fourth quarter. Nuveen Asset Management LLC now owns 618,924 shares of the real estate investment trust's stock valued at $23,463,000 after acquiring an additional 4,363 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in National Storage Affiliates Trust in the first quarter worth approximately $23,134,000. Institutional investors own 99.97% of the company's stock.

National Storage Affiliates Trust Price Performance

Shares of NSA traded down $0.14 during trading hours on Thursday, reaching $31.94. 793,772 shares of the stock traded hands, compared to its average volume of 1,130,711. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.62. National Storage Affiliates Trust has a 52-week low of $28.02 and a 52-week high of $49.44. The company's 50-day moving average price is $31.41 and its two-hundred day moving average price is $34.58. The company has a market cap of $2.45 billion, a P/E ratio of 51.51 and a beta of 1.10.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its earnings results on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). National Storage Affiliates Trust had a net margin of 8.92% and a return on equity of 4.91%. The firm had revenue of $188.84 million for the quarter, compared to analysts' expectations of $185.91 million. During the same quarter last year, the firm posted $0.21 EPS. The firm's quarterly revenue was down .8% compared to the same quarter last year. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. On average, analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.1%. National Storage Affiliates Trust's payout ratio is 367.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen raised National Storage Affiliates Trust from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. National Bankshares set a $33.00 price target on National Storage Affiliates Trust in a report on Tuesday, June 24th. Barclays lowered their price target on National Storage Affiliates Trust from $41.00 to $36.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Wells Fargo & Company lowered their price target on National Storage Affiliates Trust from $38.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, July 23rd. Finally, BNP Paribas Exane assumed coverage on National Storage Affiliates Trust in a report on Tuesday, June 24th. They set an "underperform" rating and a $33.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $37.13.

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.