OVERSEA CHINESE BANKING Corp Ltd Makes New $2.91 Million Investment in National Storage Affiliates Trust (NYSE:NSA)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd invested approximately $2.91 million in National Storage Affiliates Trust, buying 73,731 shares and holding about 0.10% of the company.
• National Storage Affiliates Trust reported earnings per share of $0.54 for the last quarter, missing expectations of $0.56, and experienced a revenue decline of 4.0% year-over-year.
• A recent quarterly dividend of $0.57 per share represents an annualized yield of 7.7%, although the dividend payout ratio is notably high at 386.44%.

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 73,731 shares of the real estate investment trust's stock, valued at approximately $2,905,000. OVERSEA CHINESE BANKING Corp Ltd owned about 0.10% of National Storage Affiliates Trust as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. acquired a new position in shares of National Storage Affiliates Trust during the 4th quarter valued at about $51,081,000. Norges Bank acquired a new position in shares of National Storage Affiliates Trust during the 4th quarter valued at about $26,737,000. Wasatch Advisors LP boosted its position in shares of National Storage Affiliates Trust by 8.2% during the 4th quarter. Wasatch Advisors LP now owns 6,679,180 shares of the real estate investment trust's stock valued at $253,208,000 after acquiring an additional 506,398 shares during the last quarter. Woodline Partners LP acquired a new position in shares of National Storage Affiliates Trust during the 4th quarter valued at about $11,464,000. Finally, Northern Trust Corp boosted its position in shares of National Storage Affiliates Trust by 30.7% during the 4th quarter. Northern Trust Corp now owns 1,078,877 shares of the real estate investment trust's stock valued at $40,900,000 after acquiring an additional 253,176 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

National Storage Affiliates Trust Trading Up 0.3%

NYSE NSA opened at $29.56 on Friday. The firm's 50-day moving average is $32.54 and its two-hundred day moving average is $35.40. National Storage Affiliates Trust has a 12 month low of $29.02 and a 12 month high of $49.44. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.22 and a quick ratio of 0.22. The stock has a market capitalization of $2.26 billion, a P/E ratio of 50.10 and a beta of 1.10.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.02). The business had revenue of $188.35 million for the quarter, compared to analysts' expectations of $184.65 million. National Storage Affiliates Trust had a return on equity of 4.59% and a net margin of 8.59%. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. On average, sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.57 per share. The ex-dividend date was Friday, June 13th. This represents a $2.28 dividend on an annualized basis and a yield of 7.7%. National Storage Affiliates Trust's dividend payout ratio is 386.44%.

Analyst Upgrades and Downgrades

NSA has been the topic of several recent research reports. National Bankshares set a $33.00 price target on shares of National Storage Affiliates Trust in a research report on Tuesday, June 24th. BNP Paribas raised shares of National Storage Affiliates Trust to a "strong sell" rating in a research report on Tuesday, June 24th. Truist Financial set a $37.00 price target on shares of National Storage Affiliates Trust and gave the company a "hold" rating in a research report on Monday, May 19th. Wells Fargo & Company lowered 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 report on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, National Storage Affiliates Trust has a consensus rating of "Hold" and a consensus price target of $38.38.

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.

Want to see what other hedge funds are holding NSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Storage Affiliates Trust (NYSE:NSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.