Treasurer of the State of North Carolina Acquires 700 Shares of National Storage Affiliates Trust (NYSE:NSA)

Treasurer of the State of North Carolina lifted its stake in National Storage Affiliates Trust (NYSE:NSA) by 2.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 30,732 shares of the real estate investment trust’s stock after purchasing an additional 700 shares during the period. Treasurer of the State of North Carolina’s holdings in National Storage Affiliates Trust were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in National Storage Affiliates Trust in the 4th quarter worth about $26,737,000. Raymond James Financial Inc. purchased a new stake in shares of National Storage Affiliates Trust in the fourth quarter worth about $13,354,000. TimesSquare Capital Management LLC boosted its position in shares of National Storage Affiliates Trust by 39.7% in 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 acquiring an additional 315,474 shares during the period. Franklin Resources Inc. grew its stake in 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 acquiring an additional 182,878 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in National Storage Affiliates Trust during the 4th quarter worth approximately $5,055,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at National Storage Affiliates Trust

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

National Storage Affiliates Trust Stock Performance

Shares of NSA opened at $36.74 on Friday. The company has a 50-day simple moving average of $37.27 and a two-hundred day simple moving average of $39.75. 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 $2.81 billion, a PE ratio of 21.48 and a beta of 1.04. National Storage Affiliates Trust has a one year low of $30.88 and a one year high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.41. The company had revenue of $190.12 million for 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%. On average, analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.57 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.28 annualized dividend and a dividend yield of 6.21%. National Storage Affiliates Trust’s payout ratio is currently 200.00%.

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.