Northern Trust Corp Sells 264,878 Shares of National Storage Affiliates Trust $NSA

Key Points

• Northern Trust Corp has reduced its holdings in National Storage Affiliates Trust by 24.6%, owning approximately 1.06% of the company, worth roughly $32 million.
• Analysts have set varying price targets for National Storage Affiliates Trust, with Morgan Stanley and Barclays reducing their targets to $30.00 and $36.00 respectively, while the average price target is currently $36.45.
• The company recently declared a quarterly dividend of $0.57 per share, representing an annualized dividend yield of 7.1%, despite a high payout ratio of 367.74%.

Northern Trust Corp decreased its position in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 24.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 813,999 shares of the real estate investment trust's stock after selling 264,878 shares during the quarter. Northern Trust Corp owned about 1.06% of National Storage Affiliates Trust worth $32,072,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new stake in National Storage Affiliates Trust in the fourth quarter worth $51,081,000. Nuveen LLC bought a new stake in shares of National Storage Affiliates Trust in the 1st quarter valued at $23,134,000. Woodline Partners LP acquired a new stake in National Storage Affiliates Trust during the 4th quarter worth $11,464,000. Sound Income Strategies LLC lifted its holdings in National Storage Affiliates Trust by 17,179.8% during the first quarter. Sound Income Strategies LLC now owns 142,558 shares of the real estate investment trust's stock worth $5,617,000 after acquiring an additional 141,733 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its stake in National Storage Affiliates Trust by 47,286.2% in the first quarter. Peregrine Capital Management LLC now owns 137,420 shares of the real estate investment trust's stock valued at $5,414,000 after acquiring an additional 137,130 shares during the period. Institutional investors and hedge funds own 99.97% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NSA. National Bankshares set a $33.00 price objective on National Storage Affiliates Trust in a report on Tuesday, June 24th. Truist Financial cut their price target on shares of National Storage Affiliates Trust from $37.00 to $32.00 and set a "hold" rating on the stock in a research note on Monday, August 25th. Barclays lowered their price objective on shares of National Storage Affiliates Trust from $41.00 to $36.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. BNP Paribas raised shares of National Storage Affiliates Trust to a "strong sell" rating in a research report on Tuesday, June 24th. Finally, BNP Paribas Exane assumed coverage on shares of National Storage Affiliates Trust in a research note on Tuesday, June 24th. They issued an "underperform" rating and a $33.00 target price for the company. One analyst has rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $36.45.

National Storage Affiliates Trust Stock Up 1.3%

Shares of NYSE:NSA traded up $0.44 during midday trading on Thursday, reaching $32.67. The company had a trading volume of 1,548,978 shares, compared to its average volume of 932,235. National Storage Affiliates Trust has a 1-year low of $28.02 and a 1-year high of $49.44. The stock has a market cap of $2.51 billion, a PE ratio of 52.69 and a beta of 1.09. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.62. The business's 50 day moving average price is $31.39 and its 200 day moving average price is $34.39.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its quarterly 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 company had revenue of $188.84 million during the quarter, compared to the consensus estimate of $185.91 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The firm's revenue for the quarter 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. Research analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal 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 issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Monday, September 15th. National Storage Affiliates Trust's payout ratio is presently 367.74%.

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.