Fuller & Thaler Asset Management Inc. Increases Stake in National Storage Affiliates Trust $NSA

Key Points

• Fuller & Thaler Asset Management Inc. increased its holdings in National Storage Affiliates Trust (NSA) by 49.0% in Q1, owning 92,744 shares worth approximately $3.65 million.
• Multiple analysts have downgraded NSA, with Morgan Stanley giving it an "underweight" rating and setting a price target of $30.00, reflecting bearish sentiment in the market.
• NSA recently declared a quarterly dividend of $0.57 per share, yielding 7.3%, although its dividend payout ratio is considerably high at 367.74%.

Fuller & Thaler Asset Management Inc. grew its position in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 49.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,744 shares of the real estate investment trust's stock after purchasing an additional 30,501 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 0.12% of National Storage Affiliates Trust worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV boosted its position in shares of National Storage Affiliates Trust by 4.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,211 shares of the real estate investment trust's stock worth $385,000 after acquiring an additional 398 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of National Storage Affiliates Trust by 7.5% during the first quarter. Concurrent Investment Advisors LLC now owns 5,932 shares of the real estate investment trust's stock worth $234,000 after acquiring an additional 413 shares during the last quarter. Cerity Partners LLC boosted its position in shares of National Storage Affiliates Trust by 0.9% during the first quarter. Cerity Partners LLC now owns 55,004 shares of the real estate investment trust's stock worth $2,167,000 after acquiring an additional 483 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of National Storage Affiliates Trust by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 42,213 shares of the real estate investment trust's stock worth $1,661,000 after acquiring an additional 499 shares during the last quarter. Finally, Moseley Investment Management Inc. boosted its position in shares of National Storage Affiliates Trust by 2.4% during the first quarter. Moseley Investment Management Inc. now owns 24,944 shares of the real estate investment trust's stock worth $983,000 after acquiring an additional 577 shares during the last quarter. Institutional investors own 99.97% of the company's stock.

Analyst Ratings Changes

NSA has been the topic of a number of recent research reports. National Bankshares set a $33.00 price target on shares of National Storage Affiliates Trust in a research note on Tuesday, June 24th. Robert W. Baird decreased their price target on shares of National Storage Affiliates Trust from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 12th. Wells Fargo & Company decreased their price target on shares of National Storage Affiliates Trust from $38.00 to $35.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of National Storage Affiliates Trust from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, BNP Paribas raised shares of National Storage Affiliates Trust to a "strong sell" rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $37.13.

National Storage Affiliates Trust Trading Down 0.5%

Shares of NSA traded down $0.17 during midday trading on Tuesday, hitting $31.55. The stock had a trading volume of 203,731 shares, compared to its average volume of 882,787. National Storage Affiliates Trust has a 1 year low of $28.02 and a 1 year high of $49.44. The firm has a market cap of $2.42 billion, a PE ratio of 50.89 and a beta of 1.10. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.30 and a quick ratio of 0.30. The stock's 50 day moving average is $31.47 and its 200 day moving average is $34.65.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $185.91 million. During the same period in the prior year, the company posted $0.21 EPS. The company's 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. As a group, 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. Stockholders of record on Monday, September 15th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 annualized dividend and a dividend yield of 7.2%. National Storage Affiliates Trust's dividend payout ratio is currently 367.74%.

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.