Vanguard Group Inc. Reduces Position in National Storage Affiliates Trust $NSA

Key Points

• Vanguard Group Inc. reduced its stake in National Storage Affiliates Trust by 0.5%, holding approximately 12.70% of the company's shares, valued at $382.4 million.
• Despite institutional investors making various adjustments, a majority own 99.97% of National Storage Affiliates Trust, with multiple brokerages recently downgrading price targets for the stock.
• The company reported a quarterly dividend of $0.57 per share, indicating a dividend yield of 7.5%, although it has a very high dividend payout ratio of 367.74%.

Vanguard Group Inc. reduced its stake in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 0.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 9,706,113 shares of the real estate investment trust's stock after selling 53,303 shares during the quarter. Vanguard Group Inc. owned 12.70% of National Storage Affiliates Trust worth $382,421,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSA. Renaissance Technologies LLC raised its stake in National Storage Affiliates Trust by 368.0% in the 4th quarter. Renaissance Technologies LLC now owns 144,600 shares of the real estate investment trust's stock valued at $5,482,000 after acquiring an additional 113,700 shares during the period. Sterling Capital Management LLC raised its stake in National Storage Affiliates Trust by 50.8% in the 4th quarter. Sterling Capital Management LLC now owns 4,119 shares of the real estate investment trust's stock valued at $156,000 after acquiring an additional 1,388 shares during the period. Barclays PLC raised its stake in National Storage Affiliates Trust by 188.2% in the 4th quarter. Barclays PLC now owns 159,653 shares of the real estate investment trust's stock valued at $6,053,000 after acquiring an additional 104,264 shares during the period. Marshall Wace LLP raised its stake in National Storage Affiliates Trust by 57.6% in the 4th quarter. Marshall Wace LLP now owns 527,355 shares of the real estate investment trust's stock valued at $19,992,000 after acquiring an additional 192,765 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in National Storage Affiliates Trust by 10.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 137,327 shares of the real estate investment trust's stock valued at $5,208,000 after acquiring an additional 12,590 shares during the period. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NSA has been the topic of a number of research reports. National Bankshares set a $33.00 price objective on National Storage Affiliates Trust in a research note on Tuesday, June 24th. Wells Fargo & Company decreased their price target on National Storage Affiliates Trust from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 23rd. Truist Financial set a $37.00 price target on National Storage Affiliates Trust and gave the company a "hold" rating in a research report on Monday, May 19th. Morgan Stanley cut National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 price target on the stock. in a research report on Tuesday, May 27th. Finally, BNP Paribas Exane started coverage on National Storage Affiliates Trust in a research report on Tuesday, June 24th. They set an "underperform" rating and a $33.00 price target on the stock. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $37.54.

National Storage Affiliates Trust Price Performance

Shares of NSA stock traded down $0.27 during trading on Thursday, hitting $31.04. The company had a trading volume of 776,697 shares, compared to its average volume of 1,094,400. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.62. The stock's 50-day moving average is $31.52 and its two-hundred day moving average is $34.77. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 50.06 and a beta of 1.10. National Storage Affiliates Trust has a 52 week low of $28.02 and a 52 week 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 (EPS) 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 return on equity of 4.91% and a net margin of 8.92%.The firm's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. As a group, analysts predict that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.28 annualized dividend and a yield of 7.3%. National Storage Affiliates Trust's dividend payout ratio is currently 367.74%.

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.