Raymond James Financial Inc. Grows Stock Holdings in National Storage Affiliates Trust $NSA

Key Points

• Raymond James Financial Inc. increased its stake in National Storage Affiliates Trust by 16.6%, owning a total of 410,870 shares valued at approximately $16.19 million.
• National Storage Affiliates Trust reported earnings per share of $0.55 for the last quarter, missing estimates, with a revenue of $188.84 million, which was slightly above expectations.
• The company declared a quarterly dividend of $0.57 per share, resulting in an annualized yield of about 7.1%, but a high dividend payout ratio of 367.74% is noted.

Raymond James Financial Inc. increased its stake in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 16.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,870 shares of the real estate investment trust's stock after acquiring an additional 58,619 shares during the quarter. Raymond James Financial Inc. owned about 0.54% of National Storage Affiliates Trust worth $16,188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Balyasny Asset Management L.P. acquired a new stake in National Storage Affiliates Trust during the 4th quarter worth $51,081,000. Northern Trust Corp raised its stake in 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 worth $40,900,000 after acquiring an additional 253,176 shares in the last quarter. GW&K Investment Management LLC raised its stake in National Storage Affiliates Trust by 0.6% during the 1st quarter. GW&K Investment Management LLC now owns 778,132 shares of the real estate investment trust's stock worth $30,658,000 after acquiring an additional 4,609 shares in the last quarter. Nuveen Asset Management LLC raised its stake in National Storage Affiliates Trust by 0.7% during the 4th quarter. Nuveen Asset Management LLC now owns 618,924 shares of the real estate investment trust's stock worth $23,463,000 after acquiring an additional 4,363 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in National Storage Affiliates Trust during the 1st quarter worth $23,134,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on NSA. Wells Fargo & Company cut 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. Robert W. Baird lowered their price objective on shares of National Storage Affiliates Trust from $39.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 12th. Truist Financial lowered their price objective on shares of National Storage Affiliates Trust from $37.00 to $32.00 and set a "hold" rating on the stock in a research report on Monday, August 25th. Morgan Stanley downgraded shares of National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 price objective on the stock. in a research report on Tuesday, May 27th. Finally, Barclays lowered their price objective on shares of National Storage Affiliates Trust from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and five have given 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 target price of $36.45.

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA traded up $0.35 during midday trading on Wednesday, hitting $32.08. The stock had a trading volume of 81,349 shares, compared to its average volume of 881,526. The company has a market capitalization of $2.46 billion, a PE ratio of 51.62 and a beta of 1.09. The stock has a 50 day moving average price of $31.38 and a two-hundred day moving average price of $34.44. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.62. National Storage Affiliates Trust has a 1 year low of $28.02 and a 1 year high of $49.44.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last issued its earnings results 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). The firm had revenue of $188.84 million during the quarter, compared to analysts' expectations of $185.91 million. National Storage Affiliates Trust had a net margin of 8.92% and a return on equity of 4.91%. The firm's revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. As a group, equities analysts predict that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a yield of 7.1%. National Storage Affiliates Trust's payout ratio is currently 367.74%.

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.