Assetmark Inc. Invests $501,000 in National Storage Affiliates Trust (NYSE:NSA)

Assetmark Inc. bought a new stake in shares of National Storage Affiliates Trust (NYSE:NSA) in the third quarter, Holdings Channel.com reports. The fund bought 10,400 shares of the real estate investment trust’s stock, valued at approximately $501,000.

Other hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in shares of National Storage Affiliates Trust by 3.8% during the second quarter. Thrivent Financial for Lutherans now owns 2,514,908 shares of the real estate investment trust’s stock valued at $103,665,000 after acquiring an additional 90,925 shares in the last quarter. Leeward Investments LLC MA grew its position in National Storage Affiliates Trust by 30.9% in the 2nd quarter. Leeward Investments LLC MA now owns 414,734 shares of the real estate investment trust’s stock valued at $17,095,000 after acquiring an additional 97,786 shares in the last quarter. Swedbank AB purchased a new position in shares of National Storage Affiliates Trust in the 1st quarter valued at about $16,056,000. Long Pond Capital LP purchased a new stake in National Storage Affiliates Trust during the second quarter worth approximately $16,198,000. Finally, Sei Investments Co. lifted its stake in National Storage Affiliates Trust by 9.1% during the second quarter. Sei Investments Co. now owns 388,995 shares of the real estate investment trust’s stock worth $16,034,000 after purchasing an additional 32,544 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Price Performance

NYSE NSA opened at $43.14 on Friday. The stock has a 50-day simple moving average of $45.14 and a 200 day simple moving average of $42.40. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $3.29 billion, a PE ratio of 25.23 and a beta of 0.99. National Storage Affiliates Trust has a twelve month low of $32.42 and a twelve month high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 20.59% and a return on equity of 10.35%. The firm’s quarterly revenue was down 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 earnings per share. Research analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, December 13th. This represents a $2.28 dividend on an annualized basis and a 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 (DPR) is presently 130.99%.

Wall Street Analyst Weigh In

NSA has been the subject of several research analyst reports. Truist Financial increased their price objective on National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. Jefferies Financial Group lifted 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. Robert W. Baird lifted their target price on National Storage Affiliates Trust from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. KeyCorp lowered National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research report on Monday, September 9th. Finally, Wells Fargo & Company boosted their target price 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. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $43.17.

National Storage Affiliates Trust 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.