Redwood Investment Management LLC Decreases Holdings in National Storage Affiliates Trust (NYSE:NSA)

Redwood Investment Management LLC lessened its stake in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 93.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,874 shares of the real estate investment trust's stock after selling 97,212 shares during the quarter. 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 hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of National Storage Affiliates Trust by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 9,759,416 shares of the real estate investment trust's stock valued at $369,979,000 after buying an additional 80,923 shares during the period. Wasatch Advisors LP increased its holdings in National Storage Affiliates Trust by 8.2% in the 4th quarter. Wasatch Advisors LP now owns 6,679,180 shares of the real estate investment trust's stock worth $253,208,000 after acquiring an additional 506,398 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in National Storage Affiliates Trust by 0.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,548,145 shares of the real estate investment trust's stock valued at $96,600,000 after acquiring an additional 10,783 shares during the period. Capital World Investors raised its stake in National Storage Affiliates Trust by 6.2% in the 4th quarter. Capital World Investors now owns 1,941,558 shares of the real estate investment trust's stock valued at $73,604,000 after acquiring an additional 113,973 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in National Storage Affiliates Trust by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,348,728 shares of the real estate investment trust's stock valued at $51,144,000 after purchasing an additional 15,468 shares during the last quarter. Institutional investors own 99.97% of the company's stock.

National Storage Affiliates Trust Price Performance

Shares of NSA traded down $0.51 during mid-day trading on Thursday, reaching $33.78. 297,449 shares of the stock traded hands, compared to its average volume of 673,237. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 19.76 and a beta of 1.20. National Storage Affiliates Trust has a 1 year low of $30.88 and a 1 year high of $49.44. The firm has a fifty day moving average price of $36.44 and a 200 day moving average price of $38.46. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The real estate investment trust reported $0.54 earnings per share (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 business had revenue of $188.35 million for the quarter, compared to the consensus estimate of $184.65 million. During the same period in the prior year, the business posted $0.60 EPS. National Storage Affiliates Trust's quarterly revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts predict that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The firm also recently disclosed 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. This represents a $2.28 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend is Friday, June 13th. National Storage Affiliates Trust's payout ratio is 386.44%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. 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 report on Wednesday, March 12th. Mizuho initiated coverage on shares of National Storage Affiliates Trust in a report on Wednesday, April 9th. They set a "neutral" rating and a $35.00 target price on the stock. Robert W. Baird dropped their target price on National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Finally, Truist Financial reduced their price target on 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 issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, National Storage Affiliates Trust currently has an average rating of "Hold" and a consensus price target of $40.83.

Insider Buying and Selling

In other news, Director Michael J. Schall purchased 4,000 shares of the company's stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $38.54 per share, with a total value of $154,160.00. Following the completion of the purchase, the director now directly owns 6,000 shares in the company, valued at approximately $231,240. This trade represents a 200.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.70% of the stock is owned by company insiders.

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.