Ontario Teachers Pension Plan Board Boosts Stake in National Storage Affiliates Trust (NYSE:NSA)

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in National Storage Affiliates Trust by 16.7% in Q1, holding a total of 122,704 shares valued at approximately $4.83 million.
• Several hedge funds modified their holdings, with 99.97% of the company's stock now owned by institutional investors.
• National Storage Affiliates Trust's recent quarterly earnings showed earnings per share of $0.55, missing estimates, and the company has a high dividend payout ratio of 386.44%, yielding 7.6% annually.

Ontario Teachers Pension Plan Board grew its position in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,704 shares of the real estate investment trust's stock after buying an additional 17,522 shares during the quarter. Ontario Teachers Pension Plan Board owned 0.16% of National Storage Affiliates Trust worth $4,835,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nissay Asset Management Corp Japan ADV raised its stake in shares of National Storage Affiliates Trust by 4.1% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,211 shares of the real estate investment trust's stock valued at $385,000 after buying an additional 398 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of National Storage Affiliates Trust by 7.5% during the 1st 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 period. Cerity Partners LLC increased its holdings in National Storage Affiliates Trust by 0.9% in the 1st 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 increased its holdings in National Storage Affiliates Trust by 1.2% in the 1st 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. raised its stake in National Storage Affiliates Trust by 2.4% in the 1st quarter. Moseley Investment Management Inc. now owns 24,944 shares of the real estate investment trust's stock valued at $983,000 after acquiring an additional 577 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

Wall Street Analysts Forecast Growth

NSA has been the subject of a number of research reports. Wall Street Zen lowered shares of National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Wells Fargo & Company dropped 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. BNP Paribas upgraded shares of National Storage Affiliates Trust to a "strong sell" rating in a research note on Tuesday, June 24th. BNP Paribas Exane began coverage on National Storage Affiliates Trust in a research report on Tuesday, June 24th. They set an "underperform" rating and a $33.00 target price on the stock. Finally, Truist Financial set a $37.00 target price on National Storage Affiliates Trust and gave the stock a "hold" rating in a research report on Monday, May 19th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, National Storage Affiliates Trust presently has an average rating of "Hold" and a consensus price target of $38.38.

National Storage Affiliates Trust Trading Down 0.4%

Shares of NSA opened at $30.17 on Thursday. National Storage Affiliates Trust has a 1-year low of $28.02 and a 1-year high of $49.44. The company has a market capitalization of $2.31 billion, a P/E ratio of 48.65 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 0.22. The firm's 50 day simple moving average is $32.29 and its 200 day simple moving average is $35.27.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $188.84 million for the quarter, compared to analysts' expectations of $185.91 million. During the same quarter last year, the business posted $0.21 EPS. The business's quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.57 per share. The ex-dividend date was Friday, June 13th. This represents a $2.28 annualized dividend and a dividend yield of 7.6%. National Storage Affiliates Trust's dividend payout ratio is 386.44%.

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.

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