Sound Income Strategies LLC Decreases Stake in National Storage Affiliates Trust $NSA

Key Points

• Sound Income Strategies LLC reduced its stake in National Storage Affiliates Trust by 13.6% in the first quarter, selling 24,431 shares and ending with 155,041 shares worth about $5.97 million.
• Institutional ownership remains overwhelmingly high, with hedge funds and other large investors holding 99.97% of the company’s stock. Several firms, including Balyasny Asset Management and Cohen & Steers, also recently increased their positions.
• NSA missed earnings expectations in its latest quarter, posting EPS of $0.16 versus the $0.54 consensus, even though revenue came in slightly above forecasts. The stock was trading near its 52-week high, and the company pays a $0.57 quarterly dividend yielding about 5.0%.

Sound Income Strategies LLC cut its stake in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 13.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,041 shares of the real estate investment trust's stock after selling 24,431 shares during the period. Sound Income Strategies LLC owned 0.20% of National Storage Affiliates Trust worth $5,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Balyasny Asset Management L.P. raised its holdings in shares of National Storage Affiliates Trust by 11.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,622,624 shares of the real estate investment trust's stock worth $73,984,000 after buying an additional 273,095 shares during the last quarter. Cohen & Steers Inc. grew its holdings in shares of National Storage Affiliates Trust by 145.6% during 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 buying an additional 1,281,337 shares during the last quarter. Rush Island Management LP purchased a new stake in shares of National Storage Affiliates Trust during the fourth quarter valued at $33,788,000. Bank of America Corp DE increased its position in shares of National Storage Affiliates Trust by 159.2% in the 3rd quarter. Bank of America Corp DE now owns 1,163,764 shares of the real estate investment trust's stock valued at $35,169,000 after acquiring an additional 714,840 shares during the period. Finally, Hudson Bay Capital Management LP increased its position in shares of National Storage Affiliates Trust by 5.5% in the 4th quarter. Hudson Bay Capital Management LP now owns 1,154,705 shares of the real estate investment trust's stock valued at $32,574,000 after acquiring an additional 60,009 shares during the period. Hedge funds and other institutional investors own 99.97% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. BNP Paribas Exane raised National Storage Affiliates Trust from an "underperform" rating to a "neutral" rating and set a $41.00 price target for the company in a research report on Monday, March 16th. Weiss Ratings raised National Storage Affiliates Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 1st. Barclays raised their price objective on National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Monday, April 20th. UBS Group lifted their target price on National Storage Affiliates Trust from $29.00 to $42.00 and gave the stock a "neutral" rating in a report on Monday, May 18th. Finally, Citigroup upped their target price on National Storage Affiliates Trust from $33.50 to $43.62 and gave the company a "neutral" rating in a research report on Tuesday, May 12th. Thirteen investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $37.06.

National Storage Affiliates Trust Trading Up 1.7%

Shares of National Storage Affiliates Trust stock opened at $45.98 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of 61.30 and a beta of 1.03. The firm has a fifty day moving average price of $43.49 and a 200 day moving average price of $37.42. National Storage Affiliates Trust has a 1 year low of $27.43 and a 1 year high of $46.47. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.29 and a quick ratio of 0.29.

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

National Storage Affiliates Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, June 15th. National Storage Affiliates Trust's payout ratio is 304.00%.

National Storage Affiliates Trust 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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