Millennium Management LLC Reduces Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Millennium Management LLC reduced its holdings in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 78.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,496 shares of the real estate investment trust's stock after selling 90,226 shares during the period. Millennium Management LLC's holdings in National Storage Affiliates Trust were worth $967,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NSA. KBC Group NV raised its holdings in National Storage Affiliates Trust by 94.3% in the 4th quarter. KBC Group NV now owns 3,851 shares of the real estate investment trust's stock valued at $146,000 after acquiring an additional 1,869 shares during the last quarter. abrdn plc lifted its stake in shares of National Storage Affiliates Trust by 30.6% in the 4th quarter. abrdn plc now owns 17,831 shares of the real estate investment trust's stock valued at $666,000 after purchasing an additional 4,180 shares during the last quarter. Retirement Systems of Alabama boosted its stake in National Storage Affiliates Trust by 0.5% during the fourth quarter. Retirement Systems of Alabama now owns 85,289 shares of the real estate investment trust's stock worth $3,233,000 after buying an additional 412 shares during the period. State of Alaska Department of Revenue boosted its stake in National Storage Affiliates Trust by 1.8% during the fourth quarter. State of Alaska Department of Revenue now owns 41,714 shares of the real estate investment trust's stock worth $1,580,000 after buying an additional 752 shares during the period. Finally, Empowered Funds LLC increased its position in shares of National Storage Affiliates Trust by 9.4% during the fourth quarter. Empowered Funds LLC now owns 60,200 shares of the real estate investment trust's stock valued at $2,282,000 after acquiring an additional 5,184 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

National Storage Affiliates Trust Price Performance

Shares of NYSE:NSA traded up $0.03 during midday trading on Friday, hitting $33.50. 614,167 shares of the stock were exchanged, compared to its average volume of 681,589. National Storage Affiliates Trust has a twelve month low of $30.88 and a twelve month high of $49.44. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. The company has a 50 day moving average price of $35.39 and a 200-day moving average price of $37.67. The stock has a market cap of $2.56 billion, a P/E ratio of 19.59 and a beta of 1.14.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.02). National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The business had revenue of $188.35 million for the quarter, compared to analysts' expectations of $184.65 million. During the same quarter last year, the business posted $0.60 earnings per share. The business's revenue was down 4.0% compared to the same quarter last year. On average, 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 business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Friday, June 13th. National Storage Affiliates Trust's payout ratio is currently 386.44%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NSA. Wells Fargo & Company lowered their price objective on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. Robert W. Baird cut their target price on National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Barclays decreased their price objective on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. Mizuho initiated 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 target price on the stock. Finally, Morgan Stanley downgraded 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. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $39.75.

National Storage Affiliates Trust Company 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.