Redwood Investment Management LLC Sells 97,212 Shares of National Storage Affiliates Trust (NYSE:NSA)

Redwood Investment Management LLC trimmed its holdings in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 93.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,874 shares of the real estate investment trust's stock after selling 97,212 shares during the period. Redwood Investment Management LLC's holdings in National Storage Affiliates Trust were worth $261,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new stake in National Storage Affiliates Trust in the 4th quarter valued at about $563,000. Quantinno Capital Management LP lifted its stake in National Storage Affiliates Trust by 20.2% in the 4th quarter. Quantinno Capital Management LP now owns 212,400 shares of the real estate investment trust's stock valued at $8,052,000 after purchasing an additional 35,656 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in National Storage Affiliates Trust by 9.0% in the 4th quarter. Malaga Cove Capital LLC now owns 11,758 shares of the real estate investment trust's stock valued at $446,000 after purchasing an additional 966 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in National Storage Affiliates Trust by 4.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 10,211 shares of the real estate investment trust's stock valued at $385,000 after purchasing an additional 398 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in National Storage Affiliates Trust in the 4th quarter valued at about $353,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NSA has been the subject of several recent analyst reports. Robert W. Baird cut their target price on shares of National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Barclays cut their price objective on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company cut their price objective on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Mizuho started coverage on shares of National Storage Affiliates Trust in a research report on Wednesday, April 9th. They set a "neutral" rating and a $35.00 price objective for the company. Finally, Truist Financial cut their price objective on shares of National Storage Affiliates Trust from $39.00 to $37.00 and set a "hold" rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $40.83.

Insider Activity

In other news, Director Michael J. Schall acquired 4,000 shares of National Storage Affiliates Trust stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $38.54 per share, for a total transaction of $154,160.00. Following the transaction, the director now directly owns 6,000 shares of the company's stock, valued at approximately $231,240. The trade was a 200.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.70% of the stock is owned by corporate insiders.

National Storage Affiliates Trust Price Performance

Shares of NYSE NSA traded down $0.26 during midday trading on Tuesday, reaching $36.59. The company's stock had a trading volume of 659,642 shares, compared to its average volume of 672,418. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. National Storage Affiliates Trust has a fifty-two week low of $30.88 and a fifty-two week high of $49.44. The business's 50 day moving average price is $36.49 and its two-hundred day moving average price is $38.48. The company has a market cap of $2.80 billion, a P/E ratio of 21.40 and a beta of 1.20.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.54 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.02). National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The firm had revenue of $188.35 million for the quarter, compared to analyst estimates of $184.65 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, June 13th. This represents a $2.28 annualized dividend and a dividend yield of 6.23%. National Storage Affiliates Trust's dividend payout ratio (DPR) is presently 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.