National Storage Affiliates Trust (NYSE:NSA) Hits New 12-Month Low – Here’s Why

Shares of National Storage Affiliates Trust (NYSE:NSA) hit a new 52-week low during trading on Monday . The company traded as low as $32.66 and last traded at $32.71, with a volume of 89235 shares trading hands. The stock had previously closed at $35.16.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NSA. Barclays decreased their price objective on 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. Robert W. Baird reduced their price target on National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Mizuho initiated coverage on National Storage Affiliates Trust in a report on Wednesday. They set a “neutral” rating and a $35.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $38.00 in a research report on Friday, January 10th. Finally, 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 report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, National Storage Affiliates Trust presently has a consensus rating of “Hold” and a consensus price target of $41.28.

National Storage Affiliates Trust Stock Down 4.5 %

The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 18.09 and a beta of 1.04. The stock has a fifty day moving average of $37.64 and a two-hundred day moving average of $40.36. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.72 and a quick ratio of 0.72.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.41. The firm had revenue of $190.12 million for the quarter, compared to the consensus estimate of $185.37 million. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. Sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend was Friday, March 14th. National Storage Affiliates Trust’s dividend payout ratio is presently 200.00%.

Insider Activity

In other news, Director Michael J. Schall acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $38.54 per share, for a total transaction of $154,160.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at $231,240. The trade was a 200.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NSA. 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 worth $369,979,000 after purchasing an additional 80,923 shares during the last quarter. Wasatch Advisors LP boosted its holdings in National Storage Affiliates Trust by 8.2% during 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 grew its stake in shares of 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 worth $96,600,000 after acquiring an additional 10,783 shares in the last quarter. Capital World Investors grew its position 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 worth $73,604,000 after purchasing an additional 113,973 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of National Storage Affiliates Trust by 1.2% during the 4th 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 acquiring an additional 15,468 shares during the period. 99.97% of the stock is owned by institutional investors.

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.