Strs Ohio Trims Stake in National Storage Affiliates Trust $NSA

Key Points

• Strs Ohio sharply cut its position in National Storage Affiliates Trust during the first quarter, selling 60,402 shares and reducing its stake by 97.3% to just 1,684 shares worth about $64,000.
• Analysts remain cautious on NSA despite several price-target increases. The stock carries a consensus rating of “Reduce,” with 12 Hold ratings and 2 Sell ratings, and an average price target of $38.60.
• NSA missed earnings expectations in its latest quarter, posting $0.16 EPS versus the $0.54 estimate, even though revenue came in slightly above forecasts at $185.4 million. The company also announced a special dividend of $0.0336 per share, payable July 22.

Strs Ohio reduced its stake in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 97.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,684 shares of the real estate investment trust's stock after selling 60,402 shares during the quarter. Strs Ohio's holdings in National Storage Affiliates Trust were worth $64,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Advisors Asset Management Inc. bought a new stake in National Storage Affiliates Trust during the first quarter valued at about $32,000. UMB Bank n.a. raised its stake in shares of National Storage Affiliates Trust by 650.0% in the fourth quarter. UMB Bank n.a. now owns 1,125 shares of the real estate investment trust's stock worth $32,000 after buying an additional 975 shares during the period. Parallel Advisors LLC lifted its position in shares of National Storage Affiliates Trust by 42.5% during the 3rd quarter. Parallel Advisors LLC now owns 1,421 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 424 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of National Storage Affiliates Trust by 207.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,217 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 821 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of National Storage Affiliates Trust by 247.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,828 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 1,302 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup increased their target price on shares of National Storage Affiliates Trust from $33.50 to $43.62 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. BNP Paribas Exane raised shares of National Storage Affiliates Trust from an "underperform" rating to a "neutral" rating and set a $41.00 price target on the stock in a report on Monday, March 16th. Barclays upped their price target on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. Truist Financial increased their price objective on shares of National Storage Affiliates Trust from $38.00 to $45.00 and gave the stock a "hold" rating in a research note on Tuesday, June 23rd. Finally, UBS Group raised their price objective on shares of National Storage Affiliates Trust from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday. Twelve investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, National Storage Affiliates Trust presently has an average rating of "Reduce" and a consensus price target of $38.60.

National Storage Affiliates Trust Stock Performance

NSA opened at $45.07 on Tuesday. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 60.10 and a beta of 1.03. The company has a fifty day moving average of $43.86 and a 200 day moving average of $38.25. National Storage Affiliates Trust has a fifty-two week low of $27.43 and a fifty-two week high of $46.47.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last announced 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 company had revenue of $185.40 million during the quarter, compared to analysts' expectations of $181.69 million. National Storage Affiliates Trust had a return on equity of 6.46% and a net margin of 10.48%.The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. As a group, sell-side analysts forecast that National Storage Affiliates Trust will post 2.22 earnings per share for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The company also recently announced a special dividend, which will be paid on Wednesday, July 22nd. Investors of record on Tuesday, July 21st will be given a $0.0336 dividend. The ex-dividend date is Tuesday, July 21st. National Storage Affiliates Trust's payout ratio is currently 304.00%.

About National Storage Affiliates Trust

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.