OVERSEA CHINESE BANKING Corp Ltd Acquires 16,791 Shares of National Storage Affiliates Trust $NSA

OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of National Storage Affiliates Trust (NYSE:NSA) by 22.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 90,522 shares of the real estate investment trust’s stock after acquiring an additional 16,791 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in National Storage Affiliates Trust were worth $2,896,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in National Storage Affiliates Trust by 10.2% during the first quarter. Janney Montgomery Scott LLC now owns 24,746 shares of the real estate investment trust’s stock valued at $975,000 after purchasing an additional 2,289 shares during the period. Highland Capital Management LLC purchased a new position in National Storage Affiliates Trust during the 1st quarter worth $281,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in National Storage Affiliates Trust by 4.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 78,217 shares of the real estate investment trust’s stock worth $3,082,000 after purchasing an additional 3,032 shares during the period. Peregrine Capital Management LLC increased its holdings in National Storage Affiliates Trust by 47,286.2% during the 1st quarter. Peregrine Capital Management LLC now owns 137,420 shares of the real estate investment trust’s stock worth $5,414,000 after purchasing an additional 137,130 shares during the period. Finally, Clear Creek Financial Management LLC increased its holdings in National Storage Affiliates Trust by 4.6% during the 1st quarter. Clear Creek Financial Management LLC now owns 23,588 shares of the real estate investment trust’s stock worth $929,000 after purchasing an additional 1,042 shares during the period. 99.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NSA. Wall Street Zen cut National Storage Affiliates Trust from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Barclays lowered their price target on National Storage Affiliates Trust from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, August 8th. UBS Group lowered their price target on National Storage Affiliates Trust from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, September 16th. Robert W. Baird decreased their price objective on National Storage Affiliates Trust from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, August 12th. Finally, Wells Fargo & Company decreased their price objective on National Storage Affiliates Trust from $38.00 to $35.00 and set an “underweight” rating for the company in a report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, National Storage Affiliates Trust presently has an average rating of “Reduce” and a consensus price target of $33.64.

National Storage Affiliates Trust Price Performance

NYSE:NSA opened at $31.34 on Tuesday. The firm has a market cap of $2.41 billion, a P/E ratio of 50.55 and a beta of 1.08. The stock has a 50 day moving average of $31.29 and a two-hundred day moving average of $32.67. National Storage Affiliates Trust has a 12 month low of $28.02 and a 12 month high of $46.07. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.62.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). The company had revenue of $188.84 million for the quarter, compared to analyst estimates of $185.91 million. National Storage Affiliates Trust had a return on equity of 4.91% and a net margin of 8.92%.The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. On average, analysts expect that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 7.3%. The ex-dividend date was Monday, September 15th. National Storage Affiliates Trust’s dividend payout ratio is presently 367.74%.

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.