National Storage Affiliates Trust $NSA Shares Sold by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. cut its stake in National Storage Affiliates Trust by 58.5% in the first quarter, selling 282,125 shares and ending with 200,000 shares worth about $7.55 million.
• Several analysts remain cautious on NSA, with 12 rating it Hold and 2 Sell; MarketBeat shows a consensus rating of Reduce and an average price target of $38.60.
• The REIT reported Q1 earnings of $0.16 per share, missing estimates, though revenue of $185.4 million came in slightly above forecasts; the company also announced a special dividend of $0.0336 payable July 22.

Heartland Advisors Inc. decreased its stake in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 58.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the real estate investment trust's stock after selling 282,125 shares during the quarter. Heartland Advisors Inc. owned approximately 0.26% of National Storage Affiliates Trust worth $7,548,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NSA. Royal Bank of Canada lifted its stake in National Storage Affiliates Trust by 0.8% in the first quarter. Royal Bank of Canada now owns 110,289 shares of the real estate investment trust's stock worth $4,345,000 after acquiring an additional 898 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of National Storage Affiliates Trust in the 1st quarter valued at approximately $32,000. Jones Financial Companies Lllp increased its position in shares of National Storage Affiliates Trust by 207.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,217 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 821 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of National Storage Affiliates Trust by 42.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 92,309 shares of the real estate investment trust's stock valued at $3,637,000 after purchasing an additional 27,546 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of National Storage Affiliates Trust by 2.0% in the 1st quarter. Empowered Funds LLC now owns 61,409 shares of the real estate investment trust's stock valued at $2,420,000 after purchasing an additional 1,209 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of National Storage Affiliates Trust from $33.50 to $43.62 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. UBS Group increased their target price on National Storage Affiliates Trust from $42.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, July 10th. Barclays raised their price target on National Storage Affiliates Trust from $38.00 to $41.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. Evercore set a $46.00 price target on National Storage Affiliates Trust and gave the stock a "cautious" rating in a report on Monday, July 6th. Finally, Weiss Ratings raised National Storage Affiliates Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Twelve investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, National Storage Affiliates Trust has an average rating of "Reduce" and a consensus price target of $38.60.

National Storage Affiliates Trust Stock Performance

NYSE NSA opened at $44.55 on Friday. The company has a fifty day moving average of $43.99 and a two-hundred day moving average of $38.65. The company has a market capitalization of $3.44 billion, a PE ratio of 59.40 and a beta of 1.03. National Storage Affiliates Trust has a 1 year low of $27.43 and a 1 year high of $46.47. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.29 and a quick ratio of 0.29.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS 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 quarter last year, the firm posted $0.54 EPS. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. As a group, analysts expect that National Storage Affiliates Trust will post 2.22 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Tuesday, July 21st will be paid a $0.0336 dividend. The ex-dividend date is Tuesday, July 21st. National Storage Affiliates Trust's payout ratio is currently 304.00%.

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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