OVERSEA CHINESE BANKING Corp Ltd Makes New 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 stake in National Storage Affiliates Trust (NYSE:NSA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 0.10% of National Storage Affiliates Trust as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Balyasny Asset Management L.P. acquired a new position in shares of National Storage Affiliates Trust in the 4th quarter valued at $51,081,000. Norges Bank acquired a new position in National Storage Affiliates Trust in the 4th quarter worth approximately $26,737,000. Wasatch Advisors LP grew its position in 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 worth $253,208,000 after purchasing an additional 506,398 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of National Storage Affiliates Trust in the fourth quarter valued at $11,464,000. Finally, Northern Trust Corp boosted its position in shares of National Storage Affiliates Trust by 30.7% in the fourth quarter. Northern Trust Corp now owns 1,078,877 shares of the real estate investment trust's stock worth $40,900,000 after buying an additional 253,176 shares during the period. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on NSA shares. National Bankshares set a $33.00 price objective on National Storage Affiliates Trust in a research note on Tuesday, June 24th. Morgan Stanley cut shares of National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 price target for the company. in a report on Tuesday, May 27th. Wells Fargo & Company dropped their price objective 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 Exane assumed coverage on National Storage Affiliates Trust in a research report on Tuesday, June 24th. They set an "underperform" rating and a $33.00 price objective for the company. Finally, Wall Street Zen downgraded National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, National Storage Affiliates Trust presently has a consensus rating of "Hold" and a consensus price target of $38.38.

National Storage Affiliates Trust Stock Performance

NSA traded up $0.08 during midday trading on Thursday, reaching $30.27. The company's stock had a trading volume of 80,427 shares, compared to its average volume of 868,950. The company has a current ratio of 0.30, a quick ratio of 0.22 and a debt-to-equity ratio of 2.62. The company has a fifty day simple moving average of $32.29 and a 200 day simple moving average of $35.27. The stock has a market cap of $2.31 billion, a P/E ratio of 48.78 and a beta of 1.10. National Storage Affiliates Trust has a twelve month low of $28.02 and a twelve month high of $49.44.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). The company had revenue of $188.84 million for the quarter, compared to the consensus estimate of $185.91 million. National Storage Affiliates Trust had a return on equity of 4.91% and a net margin of 8.92%. The company's revenue was down .8% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. Research analysts expect that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.57 dividend. The ex-dividend date was Friday, June 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.5%. National Storage Affiliates Trust's dividend payout ratio (DPR) is currently 386.44%.

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.