National Storage Affiliates Trust (NYSE:NSA) Stake Reduced by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC trimmed its stake in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 27.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 800,584 shares of the real estate investment trust's stock after selling 310,200 shares during the quarter. TimesSquare Capital Management LLC owned approximately 1.05% of National Storage Affiliates Trust worth $31,543,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NSA. Charles Schwab Investment Management Inc. lifted its position in shares of National Storage Affiliates Trust by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,012,411 shares of the real estate investment trust's stock worth $38,381,000 after purchasing an additional 23,366 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of National Storage Affiliates Trust during the 4th quarter valued at approximately $795,000. Raymond James Financial Inc. acquired a new position in National Storage Affiliates Trust in the fourth quarter worth $13,354,000. Amundi raised its holdings in shares of National Storage Affiliates Trust by 76.7% during the fourth quarter. Amundi now owns 65,569 shares of the real estate investment trust's stock worth $2,422,000 after purchasing an additional 28,451 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of National Storage Affiliates Trust by 43.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,769 shares of the real estate investment trust's stock worth $1,432,000 after purchasing an additional 11,405 shares during the period. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NSA shares. Truist Financial set a $37.00 price target on shares of National Storage Affiliates Trust and gave the company a "hold" rating in a report on Monday, May 19th. BNP Paribas raised National Storage Affiliates Trust to a "strong sell" rating in a report on Tuesday, June 24th. Mizuho began coverage on National Storage Affiliates Trust in a research report on Wednesday, April 9th. They set a "neutral" rating and a $35.00 price target on the stock. Morgan Stanley lowered National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 price objective for the company. in a research report on Tuesday, May 27th. Finally, Wall Street Zen lowered National Storage Affiliates Trust from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $38.63.

National Storage Affiliates Trust Stock Performance

Shares of NSA traded up $0.15 during trading hours on Monday, reaching $32.70. 803,362 shares of the company's stock traded hands, compared to its average volume of 842,480. National Storage Affiliates Trust has a twelve month low of $30.88 and a twelve month high of $49.44. The business's fifty day simple moving average is $33.88 and its two-hundred day simple moving average is $36.00. 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 firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 55.42 and a beta of 1.12.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last announced its 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). National Storage Affiliates Trust had a net margin of 8.59% and a return on equity of 4.59%. The company had revenue of $188.35 million during the quarter, compared to the consensus estimate of $184.65 million. During the same quarter in the prior year, the company earned $0.60 EPS. The business's quarterly revenue was down 4.0% on a year-over-year basis. Analysts predict that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.28 annualized dividend and a yield of 6.97%. National Storage Affiliates Trust's payout ratio is 386.44%.

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.