National Storage Affiliates Trust $NSA Stock Holdings Reduced by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC cut its stake in National Storage Affiliates Trust by 27.8% in the first quarter, selling 56,326 shares and leaving it with 146,551 shares valued at about $5.53 million.
• The company reported Q1 earnings of $0.16 per share, well below the $0.54 consensus estimate, even though revenue of $185.4 million slightly topped expectations.
• Wall Street remains cautious on NSA, with a consensus rating of “Reduce” and an average price target of $38.60, while the stock recently traded at $43.41.

Hsbc Holdings PLC reduced its position in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 27.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,551 shares of the real estate investment trust's stock after selling 56,326 shares during the period. Hsbc Holdings PLC owned about 0.19% of National Storage Affiliates Trust worth $5,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Balyasny Asset Management L.P. raised its position in National Storage Affiliates Trust by 11.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,622,624 shares of the real estate investment trust's stock valued at $73,984,000 after acquiring an additional 273,095 shares in the last quarter. Cohen & Steers Inc. lifted its stake in National Storage Affiliates Trust by 145.6% in the fourth quarter. Cohen & Steers Inc. now owns 2,161,651 shares of the real estate investment trust's stock valued at $60,980,000 after acquiring an additional 1,281,337 shares during the last quarter. Rush Island Management LP bought a new stake in National Storage Affiliates Trust in the fourth quarter worth approximately $33,788,000. Bank of America Corp DE grew its position in National Storage Affiliates Trust by 159.2% in the third quarter. Bank of America Corp DE now owns 1,163,764 shares of the real estate investment trust's stock worth $35,169,000 after acquiring an additional 714,840 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its stake in shares of National Storage Affiliates Trust by 5.5% during the 4th quarter. Hudson Bay Capital Management LP now owns 1,154,705 shares of the real estate investment trust's stock worth $32,574,000 after purchasing an additional 60,009 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Stock Performance

Shares of NYSE NSA opened at $43.41 on Friday. National Storage Affiliates Trust has a 12 month low of $27.43 and a 12 month high of $46.47. The company has a market cap of $3.35 billion, a P/E ratio of 57.88 and a beta of 1.03. The business's 50 day moving average is $44.03 and its two-hundred day moving average is $39.16. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 3.02.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.38). National Storage Affiliates Trust had a net margin of 10.48% and a return on equity of 6.46%. The business had revenue of $185.40 million during the quarter, compared to the consensus estimate of $181.69 million. During the same period in the prior year, the company posted $0.54 earnings per share. The firm's revenue was down 1.6% compared to the same quarter last year. On average, equities analysts expect that National Storage Affiliates Trust will post 2.22 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, July 22nd. Investors of record on Tuesday, July 21st were issued a dividend of $0.0336 per share. The ex-dividend date of this dividend was Tuesday, July 21st. National Storage Affiliates Trust's dividend payout ratio (DPR) is currently 304.00%.

Wall Street Analyst Weigh In

NSA has been the topic of a number of recent research reports. Evercore set a $46.00 price target on shares of National Storage Affiliates Trust and gave the company a "cautious" rating in a report on Monday, July 6th. Barclays increased their target price on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. Truist Financial raised their target price on National Storage Affiliates Trust from $38.00 to $45.00 and gave the company a "hold" rating in a report on Tuesday, June 23rd. Citigroup boosted their price target on 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. Finally, Weiss Ratings upgraded National Storage Affiliates Trust from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Twelve research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $38.60.

National Storage Affiliates Trust Company 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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