Redwood Investment Management LLC Sells 35,115 Shares of National Storage Affiliates Trust (NYSE:NSA)

Redwood Investment Management LLC cut its holdings in National Storage Affiliates Trust (NYSE:NSA) by 25.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,086 shares of the real estate investment trust’s stock after selling 35,115 shares during the period. Redwood Investment Management LLC owned about 0.14% of National Storage Affiliates Trust worth $4,945,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. D. Scott Neal Inc. grew its holdings in shares of National Storage Affiliates Trust by 20.3% in the second quarter. D. Scott Neal Inc. now owns 277,176 shares of the real estate investment trust’s stock valued at $11,425,000 after acquiring an additional 46,848 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of National Storage Affiliates Trust by 371.6% in the first quarter. Cetera Investment Advisers now owns 83,867 shares of the real estate investment trust’s stock valued at $3,284,000 after acquiring an additional 66,082 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of National Storage Affiliates Trust by 3.8% in the second quarter. Thrivent Financial for Lutherans now owns 2,514,908 shares of the real estate investment trust’s stock valued at $103,665,000 after acquiring an additional 90,925 shares in the last quarter. Caxton Associates LP bought a new position in shares of National Storage Affiliates Trust in the second quarter valued at approximately $1,553,000. Finally, Center Lake Capital Management LLC bought a new position in National Storage Affiliates Trust during the second quarter valued at $2,885,000. 99.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. KeyCorp lowered National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Truist Financial increased their price objective on National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a report on Friday, August 16th. Wells Fargo & Company increased their price objective on National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Jefferies Financial Group increased their price objective on National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Evercore ISI increased their target price on National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research report on Monday, September 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, National Storage Affiliates Trust currently has a consensus rating of “Hold” and an average price target of $43.17.

National Storage Affiliates Trust Trading Down 0.9 %

Shares of NSA stock opened at $43.32 on Thursday. 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 52-week low of $34.50 and a 52-week high of $49.44. The company has a market capitalization of $3.30 billion, a PE ratio of 25.33 and a beta of 1.01. The business’s fifty day moving average is $44.16 and its 200 day moving average is $43.21.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42). National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The business had revenue of $174.80 million during the quarter, compared to analysts’ expectations of $185.45 million. During the same quarter last year, the business posted $0.67 EPS. The company’s quarterly revenue was down 20.2% on a year-over-year basis. On average, equities research analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Friday, December 13th. This is a boost from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. National Storage Affiliates Trust’s dividend payout ratio is currently 130.99%.

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.