National Storage Affiliates Trust (NYSE:NSA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in National Storage Affiliates Trust (NYSE:NSA) by 17.8% in the third quarter, HoldingsChannel.com reports. The fund owned 43,586 shares of the real estate investment trust’s stock after selling 9,451 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in National Storage Affiliates Trust were worth $2,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in NSA. Allspring Global Investments Holdings LLC grew its stake in National Storage Affiliates Trust by 6.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,332 shares of the real estate investment trust’s stock worth $405,000 after buying an additional 616 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of National Storage Affiliates Trust in the 1st quarter worth about $238,000. SG Americas Securities LLC bought a new stake in National Storage Affiliates Trust in the 1st quarter valued at about $113,000. Sei Investments Co. boosted its stake in National Storage Affiliates Trust by 25.2% during the 1st quarter. Sei Investments Co. now owns 356,451 shares of the real estate investment trust’s stock valued at $13,959,000 after purchasing an additional 71,831 shares during the period. Finally, Russell Investments Group Ltd. grew its position in National Storage Affiliates Trust by 27.0% in the 1st quarter. Russell Investments Group Ltd. now owns 19,461 shares of the real estate investment trust’s stock worth $762,000 after purchasing an additional 4,139 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their price target on National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 16th. Wells Fargo & Company boosted their price target on National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Citigroup raised their price target on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a report on Friday, August 30th. Truist Financial upped their price objective on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a report on Friday, August 16th. Finally, KeyCorp cut shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned 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 an average price target of $43.17.

National Storage Affiliates Trust Price Performance

NYSE:NSA opened at $43.14 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35. The business’s 50-day moving average price is $45.14 and its 200 day moving average price is $42.40. National Storage Affiliates Trust has a 52-week low of $32.42 and a 52-week high of $49.44. The firm has a market cap of $3.29 billion, a P/E ratio of 25.23 and a beta of 0.99.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $185.45 million. During the same period in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was down 20.2% on a year-over-year basis. As a group, sell-side analysts predict that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 5.29%. 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%.

National Storage Affiliates Trust Company 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.