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

Intech Investment Management LLC reduced its position in shares of National Storage Affiliates Trust (NYSE:NSA) by 19.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,370 shares of the real estate investment trust’s stock after selling 5,669 shares during the period. Intech Investment Management LLC’s holdings in National Storage Affiliates Trust were worth $1,126,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NSA. Ashton Thomas Securities LLC purchased a new stake in National Storage Affiliates Trust in the 3rd quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. bought a new stake in National Storage Affiliates Trust in the second quarter valued at $33,000. Ashton Thomas Private Wealth LLC purchased a new position in National Storage Affiliates Trust during the 2nd quarter valued at $39,000. Bellevue Asset Management LLC bought a new position in National Storage Affiliates Trust in the 3rd quarter worth $39,000. Finally, Rothschild Investment LLC bought a new position in National Storage Affiliates Trust in the 2nd quarter worth $59,000. 99.97% of the stock is owned by institutional investors.

National Storage Affiliates Trust Stock Performance

Shares of National Storage Affiliates Trust stock opened at $45.38 on Thursday. National Storage Affiliates Trust has a 1 year low of $32.42 and a 1 year high of $49.44. The firm’s 50-day moving average is $44.63 and its 200 day moving average is $42.95. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 26.73 and a beta of 0.99. 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 earnings results 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). The firm had revenue of $174.80 million during the quarter, compared to the consensus estimate of $185.45 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The company’s quarterly revenue was down 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 EPS. Sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The firm also recently announced 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. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.02%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 130.99%.

Analyst Upgrades and Downgrades

NSA has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Barclays lifted their price target on National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Jefferies Financial Group increased their price objective on National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. KeyCorp cut shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Finally, Evercore ISI increased their price target on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 16th. Three 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. According to data from MarketBeat.com, National Storage Affiliates Trust currently has a consensus rating of “Hold” and a consensus target price of $43.17.

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.