National Storage Affiliates Trust (NYSE:NSA) Position Cut by Legal & General Group Plc

Legal & General Group Plc decreased its position in National Storage Affiliates Trust (NYSE:NSA) by 9.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 377,532 shares of the real estate investment trust’s stock after selling 40,862 shares during the period. Legal & General Group Plc owned approximately 0.50% of National Storage Affiliates Trust worth $14,312,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in National Storage Affiliates Trust in the 4th quarter valued at approximately $26,737,000. Raymond James Financial Inc. acquired a new position in shares of National Storage Affiliates Trust during the fourth quarter valued at $13,354,000. TimesSquare Capital Management LLC increased its holdings in shares of National Storage Affiliates Trust by 39.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,110,784 shares of the real estate investment trust’s stock valued at $42,110,000 after purchasing an additional 315,474 shares during the period. Franklin Resources Inc. raised its stake in shares of National Storage Affiliates Trust by 140.6% during the fourth quarter. Franklin Resources Inc. now owns 312,929 shares of the real estate investment trust’s stock valued at $11,863,000 after purchasing an additional 182,878 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in National Storage Affiliates Trust in the fourth quarter worth about $5,055,000. Institutional investors and hedge funds own 99.97% of the company’s stock.

National Storage Affiliates Trust Stock Up 0.8 %

NSA stock opened at $35.50 on Wednesday. The company’s 50 day simple moving average is $37.33 and its 200-day simple moving average is $39.86. National Storage Affiliates Trust has a 52-week low of $30.88 and a 52-week high of $49.44. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $2.71 billion, a P/E ratio of 20.76 and a beta of 1.04.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.41. The company had revenue of $190.12 million during the quarter, compared to analyst estimates of $185.37 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. As a group, equities research analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.57 per share. The ex-dividend date was Friday, March 14th. This represents a $2.28 annualized dividend and a dividend yield of 6.42%. National Storage Affiliates Trust’s dividend payout ratio is 200.00%.

Insider Buying and Selling at National Storage Affiliates Trust

In other news, Director Michael J. Schall bought 4,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at $231,240. This represents a 200.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company dropped their price target on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Mizuho assumed coverage on National Storage Affiliates Trust in a research report on Wednesday, April 9th. They issued a “neutral” rating and a $35.00 target price for the company. Barclays dropped their price objective on National Storage Affiliates Trust from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Robert W. Baird lowered their target price on National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating and cut their price target for the company from $40.00 to $38.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, National Storage Affiliates Trust has a consensus rating of “Hold” and a consensus target price of $41.28.

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.