National Storage Affiliates Trust $NSA Shares Bought by Wesbanco Bank Inc.

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 holdings in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 97.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NSA. GW&K Investment Management LLC boosted 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 valued at $30,658,000 after acquiring an additional 4,609 shares during the period. Alliancebernstein L.P. increased its position 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 valued at $30,131,000 after buying an additional 38,573 shares in the last quarter. Nuveen Asset Management LLC increased its position in National Storage Affiliates Trust by 0.7% during the 4th quarter. Nuveen Asset Management LLC now owns 618,924 shares of the real estate investment trust's stock worth $23,463,000 after purchasing an additional 4,363 shares in the last quarter. Nuveen LLC purchased a new stake in National Storage Affiliates Trust during the 1st quarter worth about $23,134,000. Finally, LPL Financial LLC increased its position in National Storage Affiliates Trust by 0.3% during the 1st quarter. LPL Financial LLC now owns 535,525 shares of the real estate investment trust's stock worth $21,100,000 after purchasing an additional 1,713 shares in the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group dropped their price objective on National Storage Affiliates Trust from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday. Evercore ISI lifted their price objective on National Storage Affiliates Trust from $31.00 to $32.00 and gave the stock an "underperform" rating in a research report on Monday, September 15th. Truist Financial decreased their price target 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. BNP Paribas Exane began coverage on National Storage Affiliates Trust in a research note on Tuesday, June 24th. They issued an "underperform" rating and a $33.00 price target on the stock. Finally, 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 note on Wednesday, July 23rd. Six analysts have rated the stock with a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $33.64.

National Storage Affiliates Trust Trading Down 2.4%

Shares of NYSE NSA traded down $0.73 during midday trading on Friday, hitting $29.89. The stock had a trading volume of 1,604,154 shares, compared to its average volume of 1,012,423. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 48.21 and a beta of 1.09. National Storage Affiliates Trust has a 1-year low of $28.02 and a 1-year high of $49.44. 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 company has a fifty day moving average price of $31.24 and a 200 day moving average price of $33.89.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share 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 analyst estimates of $185.91 million. National Storage Affiliates Trust had a net margin of 8.92% and a return on equity of 4.91%. The business's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Monday, September 15th. National Storage Affiliates Trust's payout ratio is currently 367.74%.

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.