Wesbanco Bank Inc. Purchases 17,300 Shares of National Storage Affiliates Trust $NSA

Key Points

• Wesbanco Bank Inc. increased its stake in National Storage Affiliates Trust by 97.7% in the second quarter, acquiring an additional 17,300 shares to reach a total of 35,000 shares valued at $1,120,000.
• The company reported earnings of $0.55 per share for the most recent quarter, missing analysts' expectations, with revenue down 0.8% year-over-year at $188.84 million.
• National Storage Affiliates Trust declared a quarterly dividend of $0.57 per share, with an annualized dividend yield of 7.4% and a payout ratio of 367.74%.

Wesbanco Bank Inc. grew its position in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 97.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,000 shares of the real estate investment trust's stock after purchasing an additional 17,300 shares during the period. Wesbanco Bank Inc.'s holdings in National Storage Affiliates Trust were worth $1,120,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC increased its holdings in shares of National Storage Affiliates Trust by 0.6% in the first quarter. GW&K Investment Management LLC now owns 778,132 shares of the real estate investment trust's stock worth $30,658,000 after buying an additional 4,609 shares during the period. Alliancebernstein L.P. increased its holdings in shares of National Storage Affiliates Trust by 5.3% in the first quarter. Alliancebernstein L.P. now owns 764,738 shares of the real estate investment trust's stock worth $30,131,000 after buying an additional 38,573 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of National Storage Affiliates Trust by 0.7% in the fourth quarter. Nuveen Asset Management LLC now owns 618,924 shares of the real estate investment trust's stock worth $23,463,000 after buying an additional 4,363 shares during the period. Nuveen LLC purchased a new position in shares of National Storage Affiliates Trust in the first quarter worth about $23,134,000. Finally, LPL Financial LLC increased its holdings in shares of National Storage Affiliates Trust by 0.3% in the first quarter. LPL Financial LLC now owns 535,525 shares of the real estate investment trust's stock worth $21,100,000 after buying an additional 1,713 shares during the period. Institutional investors own 99.97% of the company's stock.

National Storage Affiliates Trust Price Performance

Shares of NYSE NSA opened at $30.95 on Tuesday. National Storage Affiliates Trust has a fifty-two week low of $28.02 and a fifty-two week high of $49.44. The company has a 50 day simple moving average of $31.37 and a two-hundred day simple moving average of $34.04. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 49.93 and a beta of 1.09. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.30 and a current ratio of 0.30.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). National Storage Affiliates Trust had a net margin of 8.92% and a return on equity of 4.91%. The business had revenue of $188.84 million for the quarter, compared to the consensus estimate of $185.91 million. During the same period in the prior year, the business posted $0.21 EPS. National Storage Affiliates Trust's revenue for the quarter was down .8% on a year-over-year basis. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. Analysts expect that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.57 per share. The ex-dividend date is Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.4%. National Storage Affiliates Trust's dividend payout ratio is presently 367.74%.

Analyst Ratings Changes

Several research firms have recently commented on NSA. National Bankshares set a $33.00 price objective on National Storage Affiliates Trust in a report on Tuesday, June 24th. Wells Fargo & Company cut their target price on 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 cut their target price on National Storage Affiliates Trust from $39.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 12th. Truist Financial cut their target price on National Storage Affiliates Trust from $37.00 to $32.00 and set a "hold" rating on the stock in a research note on Monday, August 25th. Finally, Morgan Stanley cut National Storage Affiliates Trust from an "equal weight" rating to an "underweight" rating and set a $30.00 target price on the stock. in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $35.64.

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.

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